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- LoopNet Team
400 W Main St
Farmington, NM 87401
Mikasa Japanese Restaurant · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Authentic & Classic Japanese Restaurant with a Long & Successful Operating History located in the heart of Farmington, NM
- Annual Escalations in the Rent Commence 1/1/2023 (3% or CPI, whichever is lesser) | One, Five Year Tenant Option to renew
- Hard-Signalized Corner location w/ Prime Visibility & Convenient Ingress/Egress | Situated on a ±0.50 Acre Lot | Ample Parking | Opportunity Zone
- Strong Sales & Below Market Rent | Extremely Attractive Rent-to-Sales Ratio well below 5% (Contact Broker for details)
- Fee Simple Investment Property (Land and Building) | ±3 Years remaining on the base term of the Lease
- High Foot Traffic comprised of the daily professional community & tourists due to being positioned in the epicenter of the City of Farmington
PROPERTY FACTS
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
ABOUT 400 W MAIN ST , FARMINGTON, NM 87401
Mikasa Japanese Restaurant is situated off W Main St, which is the main retail artery of Farmington, NM & the epicenter of the city. Restaurant is walking distance from the San Juan Medical Park, where the main regional hospital in the "Four Corners" area is located. Excessive traffic flows through this immediate area since both people in the city and those who live in the greater MSA have to travel here in order to receive health related services. Additionally, Mikasa is surrounded by a dense mix of national and local eateries, convenient health & wellness services, banks and an array of some of the nation’s most dominant retail tenants including Safeway & Walmart Supercenter. Not only does the location provide a sense of security, but it offers additional upside in the long-term through its ability to not only be easily re-leased but investors can raise rents up to market since at the end of the current term due to the Tenant paying below market rent.
PROPERTY TAXES
| Parcel Number | 0028252 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $87,839 |
PROPERTY TAXES
