1335 Grand AveLas Vegas, NM 87701

Property Details for 1335 Grand Ave

Lot size

0.62 AC

Property type

Other commercial real estate

APN

R0660034

APU

R0660034

Description

This exceptional investment opportunity features a 3,600-square-foot Burger King restaurant located on a 0.62-acre lot in Las Vegas, New Mexico. The property is subject to an absolute NNN lease with a highly creditworthy franchisee, offering significant long-term stability. With 11.6 years remaining on the lease, plus four, five-year renewal options, this investment provides a predictable cash flow stream. The property boasts a 6.50% cap rate and a strong NOI of $86,822, representing an asking price of $1,335,722 ($371.03 per square foot). The building, renovated in 2016, enjoys 100% occupancy since September 19, 2005. This prime retail location benefits from high visibility and accessibility, ensuring consistent customer traffic. The property's strategic location within Las Vegas, NM, offers a blend of historical charm and modern amenities, attracting both residents and tourists. This is a rare opportunity to acquire a well-established, high-performing Burger King franchise in a desirable market. The absolute NNN lease structure minimizes landlord responsibilities, making this an ideal investment for passive income seekers. The property's strong tenant, long lease term, and attractive financial metrics make it a compelling investment prospect.

• Alternative Use

  Use

  Valuation

  Residential

  $4,398,962

  Hospitality

  $4,029,425

  Educational

  $3,352,434

  Medical

  $3,467,730

  Retail

  $5,214,898

Location Insight

City

Las Vegas

County

San Miguel

State

New Mexico

Latitude

35.6059

Longitude

-105.212

CBSA code

29780

CBSA name

LAS VEGAS, NM MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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