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70 NM-371 9,180 SF Retail Building Thoreau, NM 87323 $852,544 ($92.87/SF) 9% Cap Rate
Investment Highlights
- Double Net (NN) Lease | Minimal Landlord Responsibilities
- Located in an Opportunity Zone!
- 3 Mile Household Income $41,524
- Recently Extended Primary Term Proving Commitment to the Site
- 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
- 10 Mile Population 3,945
Executive Summary
This Family Dollar is highly visible as it is strategically positioned off of I-40 which sees 20,010 cars per day, on NM-371 which sees 4,124 cars per day. It is conveniently located on the main thoroughfare surrounded by local schools, residential, & other retailers. The 10 mile population from the site is 3,945 while the 3 mile average household income is$41,524 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. List price re?ects a 9% cap rate based on NOI of $76,729. Owner is a license New Mexico Real Estate Broker.
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 9,180 SF
- $8.50
- Jun 2028
Family Dollar is a national discount retail chain headquartered in Chesapeake, Virginia, operating as a subsidiary of Dollar Tree since 2015. The company provides affordable everyday merchandise including household goods, groceries, cleaning supplies, apparel, health and beauty products, and seasonal items. Originally founded in 1959 in Charlotte, North Carolina, Family Dollar expanded rapidly through the Southeast and later nationwide. After its acquisition by Dollar Tree, the corporate headquarters transitioned to Chesapeake, though Family Dollar continues to maintain major operations and a distribution presence in Matthews and Charlotte, North Carolina. The Chesapeake headquarters supports executive leadership, merchandising, supply chain, operations, and administrative functions for thousands of Family Dollar stores across the United States. The brand focuses on neighborhood convenience, operating small-format stores that emphasize essential products at low prices.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 9,180 SF | $8.50 | Jun 2028 |
Property Taxes
| Parcel Number | R300777 | Improvements Assessment | $146,225 |
| Land Assessment | $27,880 | Total Assessment | $174,105 |
Property Taxes
Presented by
70 NM-371
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