For Sale
$5,900,000

1005 Us-491Gallup, NM 87301

Prime Retail Location, 40,256 SF

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 40,256-square-foot shopping center situated on an expansive 8-acre lot in Gallup, New Mexico. Currently configured as three former auto dealerships, this Class B property offers significant potential for continued use or redevelopment. The asking price is $5,900,000, translating to $146.56 per square foot. Located at 1005 US-491, the property enjoys a highly visible position at the intersection of N Highway 491 and Jefferson Avenue, within Gallup's main retail corridor. This strategic location serves as a regional hub for western New Mexico and eastern Arizona, benefiting from exceptional accessibility and high traffic volume. The property's strong tenant mix includes prominent national retailers such as Safeway, Big 5 Sporting Goods, Walmart Supercenter, Home Depot, Harbor Freight, McDonald's, and Starbucks, ensuring a robust and established commercial environment. The property is zoned HC - Heavy Commercial, providing flexibility for a variety of retail uses. The ownership is held by DM & KC, LLC, and the property is offered for sale by owner. This is a rare opportunity to acquire a significant retail asset in a thriving market. The property's size, location, and surrounding commercial activity make it an attractive investment for both experienced and emerging investors seeking strong returns in a growing region. The 360,412 square foot lot provides ample space for expansion or future development. This is a turnkey opportunity to acquire a well-positioned retail property with significant upside potential.

Highlights

  • $5,900,000 asking price for a 40,256 square foot retail shopping center.
  • Class B property with three units, located in Gallup, New Mexico.
  • Situated on an 8-acre lot (360,412 sq ft) in a high-traffic area with HC (Heavy Commercial) zoning.
  • Prime location at the intersection of US-491 and Jefferson Avenue, surrounded by major retailers including Safeway, Walmart, and Home Depot.
  • Ideal for continued auto dealership use or redevelopment into other retail uses.

Property Details for 1005 Us-491

Property type
Lifestyle centers, Power centers
Square Feet
40,256 SF
Class
B
Units
3

Location Insight

City
Gallup
County
McKinley
State
New Mexico
Latitude
35.536419851008
Longitude
-108.75871388516
1005 Us-491, Gallup, New Mexico

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1005 Us-491
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