5455 E Main St

Farmington, NM 87402 | 0.8 Acres / 2,466 SF

$840,000.00

Investment Property For Sale


Church's Chicken | New 15-Year Absolute NNN Lease | Tenant is Paying Rent | Increasing Sales

Array

Investment Property For Sale

Price $840,000.00
Size 0.8 Acres / 2,466 SF

Benefits

Church’s Chicken
5455 E. Main St.
Farmington, NM 87402

 

Offering Summary

Purchase Price: $840,000
Net Operating Income: $50,400
Cap Rate: 6.00%
Lease Type: Absolute NNN

 

Investment Highlights

  • Single-Tenant Absolute Net-Lease Church’s Chicken
  • New 15-year lease signed in 2020
  • Recently remodeled
    – Tenant invested over $200,000 to re-image the restaurant in October 2019
  • Proven site with long tenure
    – Increasing sales (sales have been trending up)
    – Church’s Chicken has operated at this location since 1989 (over 30 years)
    – Guarantor has worked with Church’s Chicken for about 30 years
  • Building Size: ±2,455 SF
  • Land Size: ±0.84 Acres
  • Strong real estate fundamentals
    – Hard corner, full access
    – Neighboring tenants include Lowe’s, Davita, Mister Car Wash, and Speedway among many others
    – This retail corridor has seen a significant amount of growth in the last few years
  • Significant traffic counts
    – Traffic counts exceed 41,000 cars per day on Main St.
  • Farmington draws from an extremely large trade area
    – Draws from nearby cities, towns, southern Colorado, and Native American reservations

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