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Dense Infill Dollar Tree - Top Performer 2341 Main St SE

13,500 SF Retail Building Los Lunas, NM 87031 £1,351,921 (£100/SF) 6.50% Net Initial Yield

Investment Highlights

  • Single Tenant NN Dollar Tree 2020 Opening Date: 5.7+ Years Term Remaining with Minimal Landlord Responsibilities
  • Investment Grade Tenant: S&P Rated BBB | Dollar Tree, Inc. is a Fortune 500 Company and Operates 15,115 Stores in the U.S. and Canada
  • Excellent Signage and Traffic: Pylon Sign Visible from Hwy 47 and Main Street Signalized Intersection Traffic Counts Over 40,000 Cars Per Day.
  • Excellent Hedge Against Inflation: Attractive $0.50 Cent Increase Every 5 Years through Term and Options - Two-Five Year Options
  • Top Ranked Shadow Anchor: Adjacent to the Los Lunas Albertsons Supermarket which is ranked top 6% nationwide in Placer AI
  • Strong Retail Corridor in a Thriving and Growing City: In 2016 Facebook Spent Over $1 Billion Building their Data Centers in the City of Los Lunas

Executive Summary

Dollar Tree Los Lunas, which opened in 2020, has over 5.7 years remaining on its lease term, with minimal responsibilities for the landlord. This property serves as an excellent hedge against inflation, offering a $0.50 rent increase every five years, with two additional five-year extension options.
Dollar Tree, Inc., a Fortune 500 company, operates 15,115 stores across the contiguous U.S. and Canada, and is an investment-grade tenant with a BBB rating from S&P. The store is strategically located next to the Los Lunas Albertsons supermarket, which is ranked in the top 6% nationwide and in the top 20% in New Mexico, according to Placer AI.
The Dollar Tree boasts excellent signage, with a pylon sign visible from Highway 47 and Main Street, where traffic counts exceed 40,000 cars per day. It is part of a strong retail corridor, surrounded by major retailers such as Albertsons, Ross, Big 5, Smith’s, Ace Hardware, Walgreens, Taco Bell, Starbucks, Burger King, Pizza Hut, US Bank, O’Reilly Auto Parts, and AutoZone.
Los Lunas, located 20 miles south of Albuquerque, is a thriving and growing city with over 42,700 residents within a five-mile radius and an average household income of $74,248. In 2016, Facebook invested over $1 billion in building its Meta Data Centers in Los Lunas, further contributing to the city’s growth and economic development.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,500 SF
Building Class
B
Year Built/Renovated
1990/2020
Price
£1,351,921
Price Per SF
£100
Net Initial Yield
6.50%
NOI
£87,875
Tenancy
Single
Number of Floors
1
Building FAR
0.20
Land Acres
1.56 AC
Parking
54 Spaces (4 Spaces per 1,000 SF Leased)
Frontage
407 ft on Main St

Amenities

  • Pylon Sign
  • Signage
  • Tenant Controlled HVAC

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • 13,500 SF
  • £6.51
  • Double Net
  • Mar 2030

At Dollar Tree, their customers can expect to find an environment where shopping is fun. They're known for their “thrill-of-the-hunt” shopping experience where customers can discover new, exciting items every week, from everyday essentials to fun craft, seasonal, and party merchandise. Many of the items they carry sell for more elsewhere, which means that their customers can stretch their dollars to get the products they need at an extreme value. They remain fiercely committed to their mission of bringing their customers extreme value every day, along with more thrills, more fun & new items every week! Dollar Tree carries a broad, exciting mix of consumable, variety, and seasonal merchandise that includes many trusted national and regional brands. In the midst of massive growth, Dollar Tree remains committed to their original mission: giving customers extreme value at low prices. With stores in the U.S. and Canada, they are fulfilling that mission more now than ever before.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer 13,500 SF £6.51 Double Net Mar 2030

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1-011-038-183-245-000000
Land Assessment
£89,170
Improvements Assessment
£84,220
Total Assessment
£173,389
  • Listing ID: 32410838

  • Date on Market: 10/07/2024

  • Last Updated:

  • Address: 2341 Main St SE, Los Lunas, NM 87031

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