1001 2Nd StRoswell, NM 88201

Property Details for 1001 2Nd St

Year built

2024

Lot size

1.10 AC

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional investment opportunity: a brand-new (2024 construction) Murphy USA convenience store and gas station in Roswell, New Mexico, presents a compelling net lease offering. This single-tenant property boasts a 20-year absolute NNN lease commencing October 1, 2024, and expiring October 1, 2044, with four 5-year renewal options. The lease includes attractive 8% rent bumps every five years, ensuring consistent income growth. The property sits on a 1.1-acre lot at a high-traffic hard corner location on W 2nd Street and N Union Avenue, experiencing over 17,500 vehicles per day. The strong demographics are highlighted by over 49,235 people residing within a 5-mile radius, boasting an average household income exceeding $88,130. The property's strategic location is further enhanced by its proximity to several nationally recognized brands, including Sonic, Dollar General, Subway, and Dairy Queen. Murphy USA, a leading retailer with over $25.45 billion in revenue, provides a strong corporate guarantee. The property offers a 5.75% cap rate and a current net operating income (NOI) of $98,000. Roswell's designation as New Mexico's most affordable city, coupled with a population exceeding 46,355, adds to the investment's appeal. This is a turnkey investment with significant long-term growth potential. The property is 100% occupied.

Location Insight

City

Roswell

County

Chaves

State

New Mexico

Latitude

33.3948

Longitude

-104.537

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