1335 Grand AveLas Vegas, NM 87701

For Sale
$1,335,722

High-yield NNN Burger King in Las Vegas, NM

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity features a 3,600-square-foot Burger King restaurant located on a 0.62-acre lot in Las Vegas, New Mexico. The property is subject to an absolute NNN lease with a highly creditworthy franchisee, offering significant long-term stability. With 11.6 years remaining on the lease, plus four, five-year renewal options, this investment provides a predictable cash flow stream. The property boasts a 6.50% cap rate and a strong NOI of $86,822, representing an asking price of $1,335,722 ($371.03 per square foot). The building, renovated in 2016, enjoys 100% occupancy since September 19, 2005. This prime retail location benefits from high visibility and accessibility, ensuring consistent customer traffic. The property's strategic location within Las Vegas, NM, offers a blend of historical charm and modern amenities, attracting both residents and tourists. This is a rare opportunity to acquire a well-established, high-performing Burger King franchise in a desirable market. The absolute NNN lease structure minimizes landlord responsibilities, making this an ideal investment for passive income seekers. The property's strong tenant, long lease term, and attractive financial metrics make it a compelling investment prospect.

Highlights

  • Significant upside potential via percentage rent.
  • 3,600 SF building on a 0.62-acre lot in a prime location.
  • 12 years remaining on a triple-net (NNN) lease with a strong Burger King tenant.
  • High visibility ensures excellent customer access and convenience.

Property Details for 1335 Grand Ave

Property type
Other retail properties, Restaurants
Square Feet
3,600 SF
Year Renovated
2016
Lot Size (sq. ft)
27,007 SF
Units
1

Location Insight

City
Las Vegas
County
San Miguel
State
New Mexico
Latitude
35.605688104787
Longitude
-105.21141994618
1335 Grand Ave, Las Vegas, New Mexico

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1335 Grand Ave
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