120 Bent StTaos, NM 87571

Property Details for 120 Bent St

Year built

1920

Lot size

0.84 AC

Property size (Sq ft)

21,495 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional retail investment opportunity encompasses three buildings totaling 21,495 square feet in Taos, New Mexico's historic downtown, adjacent to the Taos Plaza. The property, featuring a beautifully landscaped pedestrian walkway, houses over 20 unique shops, galleries, and restaurants. Built in 1920 with renovations completed in 2013, the property includes the John Dunn House, listed on the State Historic Register. Currently boasting 100% occupancy, 87% of the gross leasable area operates under triple-net leases. The diverse tenant base includes long-term, established businesses; over ten tenants have occupied their spaces for 30 years or more. The property's exceptionally high historical occupancy rate demonstrates its enduring appeal and strong tenant relationships. Two remodeled second-story apartments, updated in 2023, add to the property's income stream. The property's prime location within walking distance of museums, hotels, and other attractions, coupled with Taos's thriving tourism industry, ensures continued strong performance. The 0.841-acre lot provides ample space for the three two-story buildings, and the property offers a compelling combination of historical charm, modern amenities, and exceptional financial performance, with a current NOI of $468,445 and a 6.51% cap rate. The asking price is $7,200,000.

Location Insight

City

Taos

County

Taos

State

New Mexico

Latitude

36.408

Longitude

-105.574

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