1580 Main StLos Lunas, NM 87031

Property Details for 1580 Main St

Year built

2014

Property size (Sq ft)

4,010 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple, single-tenant IHOP restaurant located at 1580 Main St NW, Los Lunas, New Mexico, 87031. The 4,010-square-foot building, constructed in 2014, sits on approximately 42,732 square feet of land and boasts a strong 9.02% cap rate with a current NOI of $137,500. The property is strategically positioned in a high-traffic area, benefiting from its location on Main Street/Highway 6 (21,760 vehicles per day), offering excellent visibility and accessibility. The IHOP restaurant is part of a larger power center anchored by Home Depot and Lowe's, and enjoys close proximity to numerous national retailers including McDonald's, Wendy's, and Starbucks, creating a synergistic retail environment. The current lease agreement features 14 years remaining, with two five-year options to renew, providing long-term stability and predictable income. The property is offered at $1,525,000 ($380.30 per square foot), representing a compelling investment for those seeking a core, credit-rated, NNN-leased asset. The property is currently 100% occupied by a multi-unit franchisee, further enhancing its investment appeal. This location is one of five IHOP properties available for purchase

Location Insight

City

Los Lunas

County

Valencia

State

New Mexico

Latitude

34.8148

Longitude

-106.752

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