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506 W Highway 66
Milan, NM 87021

Dollar General · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Convenience Store
Building Size
9,026 SF
Building Class
B
Year Built
2011
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.96 AC
Parking
18 Spaces (1.99 Spaces per 1,000 SF Leased)
Frontage
165 FT on U.S. Route 66

Amenities

  • Wheelchair Accessible
  • Air Conditioning
  • Smoke Detector

About 506 W Highway 66 , Milan, NM 87021

INVESTMENT HIGHLIGHTS: Strong Location – Situated on Historic Route 66, one of the most famous roads in the United States, drawing tourists from all over the world Extremely Strong Tenant – Dollar General Corporation reported a 9.18% increase in revenue from 2018 and a Market Cap of $41.4 Billion. DG (NYSE) stock price has grown 600% since its IPO in 2009 Absolute NNN Lease – the tenant is responsible for all operating expenses of the property including repair of the roof and structure, providing an investor passive income and no management responsibility Rare Rent Increase – The lease calls for a 3.00% rent increase on 11/1/2021, providing for a hedge against inflation. Additionally, there are 10% rent increases in each of the option periods Dollar General holds a strong investment-grade credit rating of BBB and is the market leader in dollar stores with roughly 15,000 locations nationwide Dollar General recently formed a strategic partnership with FedEx and Western Union: the partnership will encourage a more diverse customer base, of which they believe will stick around and shop

PROPERTY TAXES

  • Listing ID: 17531719

  • Date on Market: 10/23/2019

  • Last Updated:

  • Address: 506 W Highway 66, Milan, NM 87021