Fairmont Supply Company | NNN Lease

Retail-Commercial for Sale
Catylist Listing ID: 30098248
Property Subtypes: Free-Standing Building
Building Size (RSF): 14,000 SF
Gross Building Area: See Agent
Sale Price: $1,436,530
Unit Price: $102.61 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 9/20/2017

Overview / Comments

Marcus & Millichap is pleased to offer for sale 4400 Lomas Street, a 14,000-square foot industrial building located in Farmington, New Mexico. Built in 2010, the building cis fully leased by Fairmont Supply Company and features a triple-net lease with the tenant responsible for all property expenses including roof and structure. The tenant has recently exercised their first option and has one additional option to renew with rent escalations equal to two percent annually.

• 4 YEARS REMAINING ON TRIPLE-NET LEASE, INCLUDING ROOF AND STRUCTURE
• CONSTRUCTED IN 2010 - 14,000 SQUARE FOOT BUILDING LOCATED ON A 3 ACRE LOT
• LOT SITUATED JUST OFF THE CORNER OF LOMAS STREET AND TROY KING ROAD
• FAIRMONT SUPPLY COMPANY HAS MORE THAN 500 MILLION IN ANNUAL REVENUE
• FAIRMONT WAS FOUNDED IN 1921 WITH 16 LOCATIONS THROUGHOUT THE UNITED STATES

Additional Details

Nearest MSA: Farmington
County: San Juan

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,144 9,875 33,735
Median Age: 25.36 28.36 32.64
Households: 883 3,089 11,882

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
© Copyright Commercial Association of REALTORS® - New Mexico. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.