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811 Paseo Del Pueblo Sur
Taos, NM 87571
Walgreens · Retail Property For Sale
Investment Highlights
- Absolute NNN Walgreens Zero landlord responsibilities
- 5% Rental Increases Every 5 Years - Embedded rent growth
- 13.5 Years Remaining on Primary Term Long-term, secure income stream
- Only National Drugstore in Taos No direct national competition within 40+ miles
Executive Summary
The offering presents the opportunity to acquire an absolute NNN leased Walgreens located at 811 Paseo del Pueblo Sur in Taos, New Mexico, the primary commercial corridor and economic hub of northern New Mexico. The property is offered at a purchase price of $4,950,000, providing a 6.25% cap rate on current income with approximately 13.5 years remaining on the primary lease term. Walgreens operates under an absolute NNN lease, resulting in zero landlord responsibilities, and features 5% rental increases every five years, offering built-in income growth over the hold period. The asset is well positioned as the only national branded drugstore in Taos and the only Walgreens within a 40+ mile radius, supporting long-term tenant commitment and durable cash flow.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
16,224 SF
Building Class
B
Year Built
2009
Price
$6,766,898 CAD
Price Per SF
$417.09 CAD
Cap Rate
6.25%
NOI
$422,931 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
2.08 AC
Parking
66 Spaces (4.61 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 15325 | Improvements Assessment | $609,583 CAD |
| Land Assessment | $272,001 CAD | Total Assessment | $881,583 CAD |
Property Taxes
Parcel Number
15325
Land Assessment
$272,001 CAD
Improvements Assessment
$609,583 CAD
Total Assessment
$881,583 CAD
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