Improved Commercial Land for Sale in Melrose, New Mexico

Newly Opened 10,566 sq ft Dollar General located in Melrose, NM. The lease is a true NNN lease with all the cost of ownership paid by the Tenant. This lease started December 27, 2023 with a primary term of 15 years and has 5 - 5 year options with a 5% rate increase every 5 years. The Dollar General Corporation has a "BBB" credit rating which is classified as Investment Grade and will guarantee the lease. The building is close to the intersection of highways US 60-84 and NM SR 276 and has a traffic count of 3825 cars per day. Melrose NM is a rural community with no other grocery stores within 18 miles of this location. Rent Schedule Years Annual Lease 1-5 $108,461.40 6-10 $113,884.44 11-15 $119,578.68 OPTION PERIOD 16-20 $125,557.56 21-25 $131,935.48 26-30 $138,427.30 31-35 $145,348.56 36-40 $152,616.00