Description

STARBUCKS DRIVE-THRU / VERIZON SHOPS is a 100%-occupied, 5,600-square-foot retail investment at 1404 North Riverside Drive in Española, New Mexico. Built in 2017 on 0.59 acres, the property combines a Starbucks drive-thru with three inline suites leased to Verizon, Great Clips, and T-Mobile.

All four tenants operate under triple-net leases with scheduled rent increases and renewal options. Starbucks occupies 1,700 SF, Verizon occupies 1,500 SF, and Great Clips and T-Mobile each occupy 1,200 SF. The multi-tenant structure provides diversified in-place income, while the drive-thru configuration supports a high-frequency retail use.

The property is an outparcel to Lowe's along North Riverside Drive, Española's primary commercial corridor, with approximately 32,300 vehicles per day. Nearby demand generators include Walmart Supercenter, Chili's Grill & Bar, McDonald's, Wendy's, Presbyterian Española Hospital, Northern New Mexico College, and the Española and Rio Arriba County Municipal Complex.

The property is offered at $2,890,900, or $516.23 per square foot, based on $183,573 in net operating income and a 6.35% capitalization rate. Review the Offering Materials for the complete rent roll, lease terms, renewal options, expense assumptions, and underwriting details.