2341 Main StLos Lunas, NM 87031

Property Details for 2341 Main St

Year built

1990

Property size (Sq ft)

13,500 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 13,500-square-foot Dollar Tree store located at 2341 Main St NE, Los Lunas, NM 87031. The property, built in 1990 and renovated in 2020, sits on a 67,954-square-foot lot and boasts 50 parking spaces. Currently operating under a Net Lease (NN) agreement with a corporate guarantee, the tenant enjoys a strong presence in a thriving retail corridor. The lease, expiring March 24, 2030, offers a remaining term of 5.3 years with two 5-year options. Rent increases by $0.50 per square foot every five years, providing a built-in hedge against inflation. The property's strategic location within an Albertsons-anchored shopping center, coupled with excellent visibility from Highway 47 and Main Street (traffic exceeding 40,000 cars daily), ensures high foot traffic. The surrounding area features a robust mix of national retailers, including Ross, Big 5, Smith's, and more. Los Lunas itself is a rapidly growing community, with over 42,700 residents within a five-mile radius and an average household income of $74,248. The property's strong financials include a current NOI of $111,375 and a pro-forma NOI of $118,125, resulting in a 6.5% cap rate and a pro-forma cap rate of 6.89%. The asking price is $1,713,462, translating to $126.92 per square foot. The property is zoned C and benefits from a prime location adjacent to a top-performing Albertsons supermarket. This is a rare opportunity to acquire a stable, high-performing retail investment with significant upside potential.

Location Insight

City

Los Lunas

County

Valencia

State

New Mexico

Latitude

34.8044

Longitude

-106.704

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].