Single Tenant NNN Urgent Care

Retail-Commercial for Sale
Catylist Listing ID: 30757644
Property Subtypes: Free-Standing Building
Building Status: Under Construction
Building Size (RSF): 3,467 SF
Gross Building Area: See Agent
Gross Land Area: 0.40 Acres
Sale Price: $3,368,123
Unit Price: $971.48 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 9/8/2021

Overview / Comments

Available for sale is a single-tenant American Family Care in Farmington, New Mexico. The subject property sits at the intersection of East Main Street, Farmington’s key retail and service corridor, and Browning Parkway, the main entrance to Farmington from the south. Adjacent to Starbucks, Verizon and Planet Fitness and fronting a redeveloping shopping center with a pending grocery anchor, the site benefits from traffic counts of over 37,000 VPD and exceptional visibility.

The lease with Bloom Farmington, LLC, a strong, experienced operator/franchisee with a personal guaranty, has a fifteen-year primary term and two consecutive five-year options. There are 10% rental increases in years 6 and 11 of the primary term as well as years 16 and 21 if options are exercised. Tenant pays all expenses and property is maintained by the shopping center’s Maintenance Director. The Landlord is responsible for roof and structure.

Attachments & Media

Additional Details

Nearest MSA: Farmington
County: San Juan
Tax ID/APN: R6000684

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,038 37,293 48,790
Median Age: 29.03 33.36 34.02
Households: 2,905 13,435 17,522

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
Photograph of Listing Agent

Michael W Reneau

Marcus & Millichap CARNM CIE Member
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