Single Tenant Business for sale in Gallup, NM
Popeye’s – Gallup, NM
Offer Price
$2,500,000
Single tenant
About this property
Popeye’s – Gallup, NM
Popeye’s has 16+ years remaining on initial 20-year Absolute NNN lease with attractive 7.0% rental escalations every 5 years – next escalation April 19, 2028. The Tenant, Legacy Chicken, LLC is an experienced/seasoned 15-unit Popeyes operator in New Mexico.
The Asset is Situated on a large ±1.114-acre lot with excellent drive-by visibility/access on Historic Hwy 66 (main east/west corridor) with traffic counts of 14,523 CPD! Just west of I-40 with traffic counts of 26,193 CPD! Major retailers in Gallup include Walmart, Home Depot, Hobby Lobby, Marshalls, Five Below, Ashley, JCPenney, Boot Barn, Hibbett, Big 5 Sporting Goods, Dollar General, Dollar Tree, Family Dollar, Albertsons, Safeway, Shop-N-Save, Ace Hardware, Tractor Supply, Harbor Freight, AutoZone, O’Reilly Auto Parts, NAPA Auto Parts, Carquest, Goodwill, Rent-A-Center, Buddy’s Home Furnishings, Walgreens. It is Less than 3 miles from UNM Gallup – a two-year branch campus offering vocational certificates & associate degrees in academic & technical fields serving 1,906 students; 5 miles from Gallup Indian Medical Center (GIMC) – a 99-bed hospital with the largest staff of IHS Navajo Area facilities offering clinical specialties include internal medicine, cardiology, anesthesia, OB/GYN, general surgery and much more.
Property Highlights LONG-TERM ABSOLUTE NNN LEASE: 16+ years remaining on initial 20-year Absolute NNN lease with attractive 7.0% rental escalations every 5 years – next escalation April 19, 2028
TRAFFIC COUNTS: Situated on a large ±1.114-acre lot with excellent drive-by visibility/access on Historic Hwy 66 (main east/west corridor) with traffic counts of 14,523 CPD! Just west of I-40 with traffic counts of 26,193 CPD!
TENANT: Legacy Chicken, LLC is an experienced/seasoned 15-unit Popeyes operator in New Mexico.
2026 DEMOGRAPHICS: Total Population (5MI): 20,569 | Average Household Income (1MI): $94,169
Year built: 2023
CAP rate: 7.00%
Tenant: Legacy Chicken, LLC
Lease type: Absolute NNN
Lease expiration: 04/18/2043
Details: Four 5-Year Renewal Options
Building size: 2344 sq ft
Property Details
Location
Business Details
Pricing Details
Listing Information
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.