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Stripes 1115 S Dal Paso St 5,358 SF 100% Leased Retail Building Hobbs, NM 88240 $3,429,755 CAD ($640.12 CAD/SF) 5.50% Cap Rate
Investment Highlights
- 7-Eleven lease extended through 2041 with 10% rent increases every 5 years
- NNN lease — both tenants reimburse taxes, insurance, repairs, and maintenance
- Near Highway 62 & Highway 18 with 20,000+ combined vehicles per day
- 7-Eleven carries an A- S&P credit rating, strongest among U.S. convenience store operators
- Located in Lea County, the #1 oil-producing county in the U.S. with 1M+ barrels/day
- Nipa Hut signed new 5-year lease at $7.17 PSF, well below market rents
Executive Summary
Broker Of Record
Brian Brockman
Bang Realty-New Mexico, Inc.
20241, 9568 (NM)
2939 Vernon Place, Cincinnati, OH 45219 (866) 889-0550
Brian Brockman
Bang Realty-New Mexico, Inc.
20241, 9568 (NM)
2939 Vernon Place, Cincinnati, OH 45219 (866) 889-0550
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
5,358 SF
Building Class
C
Year Built
2000
Price
$3,429,755 CAD
Price Per SF
$640.12 CAD
Cap Rate
5.50%
NOI
$188,637 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.25
Lot Size
0.50 AC
Opportunity Zone
Yes
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 4000128180001 | Improvements Assessment | $129,332 CAD |
| Land Assessment | $12,781 CAD | Total Assessment | $142,114 CAD |
Property Taxes
Parcel Number
4000128180001
Land Assessment
$12,781 CAD
Improvements Assessment
$129,332 CAD
Total Assessment
$142,114 CAD
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Stripes | 1115 S Dal Paso St
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