915 Silver Heights BlvdSilver City, NM 88061

Property Details for 915 Silver Heights Blvd

Year built

1980

Lot size

0.66 AC

Property size (Sq ft)

1,544 SF

Property type

Retail properties

Property subtype

Gas stations

APN

3-080-102-428-374

APU

3080102428374

Description

This exceptional investment opportunity presents a 1,544 square foot Fast Stop convenience store and gas station located at 915 Silver Heights Boulevard, Silver City, NM 88061. The property sits on a 0.66-acre lot and boasts a strong 7.00% cap rate with a Net Operating Income (NOI) of $100,000. The property is currently operating at 100% occupancy under a 20-year absolute triple-net (NNN) lease with Fast Stop Management, commencing October 27, 2023, and expiring October 31, 2043. This leaves approximately 19 years remaining on the lease term. The lease includes a 2% annual rent increase, providing protection against inflation. The tenant, Fast Stop Management, is a reputable and established business with a proven track record. The property benefits from its strategic location on Highway 180, surrounded by national tenants such as Domino's Pizza, Denny's, Comfort Inn, and more. Built in 1980, this well-established business offers a long-term operating history and significant tax incentives (consult your CPA). The asking price is $1,428,571, translating to a price per square foot of $925.24. The lease includes four 5-year renewal options. A comprehensive due diligence package will be provided upon execution of the purchase and sale agreement. This is a secure, low-maintenance investment with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $224,889

  6.5%

  $207,590

  7%

  $192,762

• Comparable approach

  Method

  Valuation

  Relative Method

  $647,442

  Geo Method

  $647,442

• Alternative Use

  Use

  Valuation

  Residential

  $175,110

  Hospitality

  $160,400

  Educational

  $133,451

  Medical

  $138,040

  Retail

  $207,590

Location Insight

City

Silver City

County

Grant

State

New Mexico

Latitude

32.7836

Longitude

-108.266

CBSA code

43500

CBSA name

SILVER CITY, NM MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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