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506 W Highway 66 9,026 SF Retail Building Milan, NM 87021 $1,708,537 CAD ($189.29 CAD/SF) 7.75% Cap Rate
Executive Summary
Tenant: Dollar General has recently exercised a 5-year lease extension,
demonstrating long-term commitment to the site. The lease includes
10% rental increases in each option period, providing strong built-in
NOI growth.
Lease Structure: Absolute NNN lease with zero landlord
responsibilities, offering a truly passive investment. Tenant is
responsible for all taxes, insurance, and maintenance, eliminating
ownership risk.
Traffic Counts: The property benefits from strong visibility with 15,916
vehicles per day. High traffic exposure supports consistent store
performance and long-term tenant stability.
Demographics: Over 13,139 people reside within a 5-mile radius,
providing a solid consumer base. The surrounding population supports
daily-needs retail and repeat visitation.
Building Size: The 9,026 SF prototype store is a proven, efficient
layout for Dollar General operations. This size aligns with the tenant’s
most successful and widely utilized store format.
Year Built: Constructed in 2011, the property offers relatively modern
improvements with limited near-term capital needs. Newer vintage
reduces risk compared to older Dollar General assets.
demonstrating long-term commitment to the site. The lease includes
10% rental increases in each option period, providing strong built-in
NOI growth.
Lease Structure: Absolute NNN lease with zero landlord
responsibilities, offering a truly passive investment. Tenant is
responsible for all taxes, insurance, and maintenance, eliminating
ownership risk.
Traffic Counts: The property benefits from strong visibility with 15,916
vehicles per day. High traffic exposure supports consistent store
performance and long-term tenant stability.
Demographics: Over 13,139 people reside within a 5-mile radius,
providing a solid consumer base. The surrounding population supports
daily-needs retail and repeat visitation.
Building Size: The 9,026 SF prototype store is a proven, efficient
layout for Dollar General operations. This size aligns with the tenant’s
most successful and widely utilized store format.
Year Built: Constructed in 2011, the property offers relatively modern
improvements with limited near-term capital needs. Newer vintage
reduces risk compared to older Dollar General assets.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
9,026 SF
Building Class
B
Year Built
2011
Price
$1,708,537 CAD
Price Per SF
$189.29 CAD
Cap Rate
7.75%
NOI
$132,412 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.96 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
18 Spaces (1.99 Spaces per 1,000 SF Leased)
Frontage
165’ on U.S. Route 66
Amenities
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | R22387 | Improvements Assessment | $326,989 CAD |
| Land Assessment | $27,220 CAD | Total Assessment | $354,209 CAD |
Property Taxes
Parcel Number
R22387
Land Assessment
$27,220 CAD
Improvements Assessment
$326,989 CAD
Total Assessment
$354,209 CAD
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506 W Highway 66
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