Single Tenant NNN IHOP in Los Lunas, NM

$1,525,000

1580 Main Street Northwest, Los Lunas, NM 87031

For Sale

Retail

Active

Last Updated: 12/10/2024

Details:

Cap Rate: 9%

NOI: $137,500

Building Size: 4,010 sqft

Occupancy: 100%

Class: B

Lease Type: Triple Net

Year Built: 2014

Tenancy: Single

Offered by

Chris Maling

Principal-Retail Capital Markets

Avison Young | Maling Barnes Team

#01025809

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David Maling

Principal

Avison Young | Maling Barnes Team

#01139115

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Highlights:

±4,010 SF building on ±42,732 SF of fee simple land
Operated as an IHOP by a multi-unit franchisee
14 years remaining on lease, and two five-year options
Outparcel to a Home Depot & Lowes anchored power center
Situated on heavily trafficked Main Street/Highway 6 (21,760 VPD)

Description:

Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 1580 Main Street in Los Lunas, New Mexico. The subject property is located in a popular shopping center off of Interstate 25 and Highway 6, two main thoroughfares in New Mexico. IHOP currently has 14 years remaining on the lease with two, five-year options to exercise. This is an excellent opportunity to acquire a stable investment operated by a multi-unit franchisee. This location is currently part of a five-property portfolio. All five IHOP locations are for sale and can be purchased as a portfolio if desired. Contact brokers for more information.