Drive-Thru Restaurant in Las Vegas, New Mexico

Located along Las Vegas, New Mexico's primary commercial corridor, surrounded by various small businesses, restaurants, and service oriented storefronts. Nearby quality tenants include Burger King, Piccadilly Circus Pizza, Olivia's Cafe, Hillcrest Restaurant, Dairy Queen, The Skillet, Wendy's, Starbucks, McDonald's, Gene Torres Golf Course, Alta Vista Regional Hospital, Walmart Supercenter, New Mexico Highlands University, among many others. The property right off of busy Interstate 25 that offers easy access to state roads 104 & 518. Las Vegas is a city in the state of New Mexico in the United States. It is the county seat of San Miguel County. Las Vegas was once two separate municipalities, one named West Las Vegas ("Old Town") and one named East Las Vegas ("New Town"). They were separated by the Gallinas River and still retain distinct characters and separate school districts.100% fully leased single-tenant investment opportunity featuring a freestanding ±2,593 SF drive-thru restaurant on ±11,805 SF. Property leased to Stefania’s Kitchen – Arturo’s Mexican Food under a NNN lease through March 31, 2037. Scheduled base rent begins April 1, 2027 at $4,500 per month plus NNN following the initial base-rent abatement period and increases 3% annually beginning in 2028. The lease includes (2) five-year renewal options and a personal guaranty. The tenant is responsible for property taxes, insurance, utilities, CAM and property maintenance, providing predictable, increasing income with limited landlord responsibilities. At the $700,000 asking price, the initial scheduled annual base rent of $54,000 has a 7.71% cap rate. Property improvements include a drive-thru, existing kitchen hood, kitchen area, open dining area, (2) private restrooms, existing signage and private lit parking with direct access to Interstate 25 making it an ideal place to stop for both travelers & local residents.