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

Retail space

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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