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Chipotle & Stanton Optical, Farmington, NM

Chipotle & Stanton Optical

Farmington, NM

Price $2,700,000
Cap Rate 6.44%
NOI $173,791
Lease Term Various
Lease Type NNN
Rental Increases Various
Year Built 2018
Building Size 5,078 SF
Lot Size 0.7 Acres (30,492 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Kevin Held
Vice President
858.546.5428
kevin.held@cushwake.com

Brett C. Preston, CCIM
Managing Partner
915.843.8888
brett.preston@cushwake.com
NM RE License #19206
CA RE License #01240358

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with New Mexico-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

100% LEASED TWO-TENANT RETAIL CENTER
» New long-term leases to corporate tenants
» Both tenants have scheduled rental increases in primary term and options
» Low rent with diversification of tenant mix

HIGH-TRAFFIC LOCATION IN FARMINGTON’S PRIMARY RETAIL CORRIDOR
» Excellent visibility and access to 41,849 vehicles per day on East Main Street/ U.S. Highway 516
» U.S. Highway 516 serves as the primary retail corridor for Farmington
» Located across from Animas Valley Mall, a 490,000 square foot regional shopping mall serving a trade area of more than 170,000 people
» Surrounded by notable national tenants, including Walmart Supercenter, Target, Lowe’s Home Improvement, Home Depot, Sam’s Club, Albertsons, and many others

STRATEGIC LOCATION WITH STRONG DEMOGRAPHICS
» Main Street (U.S. Highway 516) serves as the primary east/west thoroughfare for Farmington
» 1.5 miles east of San Juan College, with more than 15,000 students
» Farmington serves as the commercial hub for most of northwest New Mexico, as well as the Four Corners market of New Mexico, Colorado, Arizona, and Utah
» Daytime population of approximately 7,400 within a one-mile radius
» Average household income of $92,020 within a one-mile radius

NEW 2018 CONSTRUCTION
» New building with an original 15-year roof warranty, limiting near-term deferred maintenance or capital costs
» State of the art construction, outparcel to Target, which has been operating

Click Here to Download Offering Memorandum


Property Description

The property is strategically located at the signalized hard corner of East Main Street (Highway 516) and English Road, with excellent visibility and access to over 41,800 vehicles per day. Highway 516 serves as the main east/west thoroughfare for Farmington and connects the city to Flora Vista, Spencerville, and Aztec. Located in a dense retail corridor, the property is surrounded by major national retailers and large shopping centers. The property is across from Animas Valley Mall, which features Dillard’s, Sears, Ross, Dollar Tree, and a 10-screen movie theater, and several other national tenants. The property is also located 1.5 miles east of San Juan College, home to over 15,000 students annually. Other notable tenants near the property include Home Depot, Walmart Supercenter, Lowe’s, Target, Albertsons, Dick’s Sporting Goods, and many others.

Contact Us About This Property

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