4.15 Acre - 1235 S 2nd St, Raton, New Mexico 87740
Absolute Investment Realty has been selected as the exclusive representative of the owner of this reposition opportunity in Raton, New Mexico. The
property is currently leased by Kmart. Though the property has been continuously operated by Kmart since it opened it’s doors in 1979, and
the tenant has recently renewed its lease through 05/31/2021, Sears Holdings, Kmart’s parent corporation, closed this location on April 8, 2018.
The closing of this KMart store leaves a huge market gap, resulting in a potential fantastic opportunity for the future owner and user of this property. The
tenant remains responsible for it’s lease obligations including rent and property maintenance through 05/31/2021, presenting the buyer of this
property with an opportunity to potentially negotiate a buyout of the lease and reposition and re-let the property for a higher rent rate. At $22.19/SF,
this property also is priced well below replacement value helping to reduce the buyer’s risk and allow for a multitude of future tenant’s and uses.
Building size is +/- 40,327 SF on 4.15 acre lot.