1605 Vicki DrGrants, NM 87020

Property Details for 1605 Vicki Dr

Year built

2023

Lot size

4.16 AC

Property size (Sq ft)

21,930 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a newly constructed, 21,930-square-foot retail building in Grants, New Mexico, leased to Tractor Supply Company (TSCO) under a net lease. The property, situated on a 4.16-acre lot, boasts a prime location adjacent to Interstate 40's on/off ramp, ensuring high visibility and accessibility. Built in 2023, the single-story concrete block structure incorporates Tractor Supply's innovative Fusion and outdoor garden center design, along with a large secured outdoor sales area. Ample parking is available on-site. The 16-year lease, commencing September 1, 2023, and expiring August 31, 2039, includes four 5-year renewal options with 5% rent bumps each. The tenant, a publicly traded company with a strong credit rating, provides a corporate guarantee. The property benefits from its location within a thriving commercial corridor near other national retailers such as Walmart, Walgreens, and Dollar Tree, serving a population of 11,987 within a five-mile radius with an average household income exceeding $62,000. This presents a compelling investment with significant long-term potential, offering a stable income stream and minimal landlord responsibilities. The asking price is $7,084,000, resulting in a price per square foot of $323.03. The property's strategic location and strong tenant provide a secure and attractive investment opportunity.

Location Insight

City

Grants

County

Cibola

State

New Mexico

Latitude

35.1276

Longitude

-107.825

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