264 New Mexico HwyGallup, NM 87301

Property Details for 264 New Mexico Hwy

Year built

2025

Lot size

1.17 AC

Property size (Sq ft)

9,100 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 9,100-square-foot Dollar General store situated on a 1.17-acre lot in Tse Bonito, New Mexico. The property boasts a 15-year absolute NNN lease commencing February 1, 2025, and expiring February 1, 2040, with five 5-year renewal options. The lease includes a corporate guarantee and features a 5% rent increase every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 7.00% cap rate and a substantial net operating income (NOI) of $151,548. Located on New Mexico Highway 264, a high-traffic thoroughfare with over 40,000 vehicles per day, this strategically positioned asset benefits from excellent visibility and accessibility. The property's proximity to a public airport and other major national retailers further enhances its appeal. The e-commerce resistant nature of Dollar General, a rapidly expanding national retailer, adds to the investment's long-term stability. This property is ideally suited for investors seeking a secure, high-yield, and low-maintenance retail investment within the thriving Navajo Nation market, home to a population exceeding 400,000. The asking price is $2,164,971, translating to a price per square foot of $237.91. The property is currently 100% occupied.

Location Insight

City

Gallup

County

Mckinley

State

New Mexico

Latitude

35.6618

Longitude

-109.046

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