Single Tenant NNN Urgent Care
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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.
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