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Unique business opportunity - Mountain location

2,575 Views | 15 Replies | Last: 3 mo ago by MR Gadsden
MR Gadsden
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About 7 years ago I posted on here an Airbnb business we had in Corpus and some fellow Ags purchased that and as far as I know are still running that as an Airbnb down there. Today I have another very unique opportunity that I'm posting on here exclusively. If you have any questions you can contact me directly via email.

Investment Opportunity: High Rolls General Store

Are you looking for a unique investment opportunity in a picturesque location? Look no further than the High Rolls General Store in High Rolls, New Mexico!

History and Location:
The High Rolls General Store has been a cornerstone of the community since its establishment in 1905. Nestled in the beautiful Sacramento Mountains, at 6700 foot elevation, between Cloudcroft and Alamogordo, this historic store is located on the scenic Highway 82, just seconds away from the famous Apple Barn and the stunning Highway 82 tunnel.

Building and Upgrades:
The store is nearly 3000 square feet of space, which has been thoughtfully upgraded to allow for easy subdivision into multiple sections. The building features a full kitchen, making it perfect for a variety of business opportunities. Additionally, the store comes with a water filtration system and water dispenser for water sales. Optional equipment includes an Everest water and ice machine.

Gas and Diesel Pumps:
Included in the sale are nonbranded gas and diesel pumps, making the High Rolls General Store the only gas station between Cloudcroft and Alamogordo.

Traffic and Visibility:
With thousands of cars passing by the store every day, the High Rolls General Store enjoys excellent visibility and exposure. This high-traffic location is ideal for attracting customers and ensuring a steady stream of business.

Owner Financing Available:
We are willing to offer owner financing for a portion of the purchase price, making this investment opportunity even more attractive.

This is truly a unique opportunity. We have owned the store since 2014 and my dad ran it for a couple of years. My uncle and aunt ran it for a few years after that with my uncle having established a good restaurant business inside the building. For the last 5 years it has been leased out by a local and run as a C-Store and breakfast establishment. He may be interested in continuing to rent the location after the sale. Current rent is $1500/month and he is responsible for all utilities.

My dad is pushing 70 and is no longer interested in running the store on a day to day basis. My family lives in Midland and my brother in Corpus. It's time to part with this investment.

I'll have a google photo link in a couple of days with photos of both the inside and outside. I'm also working on an equipment list of everything that will be included in the sale.

Asking $259,000 but willing to entertain offers
email - mrichline@gadsdenbuildings.com

https://maps.app.goo.gl/nAaAkBiLx6UWgCar7
EliteZags
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AG
Whoa whoa slow dowwn there maestro, there's a NEW Mexico?
MR Gadsden
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Yeah I guess that would have been important to put in the post. Yes, High Rolls NM. Just down the hill from Cloudcroft heading toward Alamogordo.
a07nathanb
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AG
Looks like cool opportunity for someone. This made me Google the community. Went to Wikipedia and boom there's the store

Good luck with selling
Comeby!
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AG
I'm no real estate guy but at that rent and purchase price, not counting taxes and insurance that's a 14 year payout?
MR Gadsden
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If someone wanted to buy it and just rent the place out then it would be a pretty predictable income. If they were looking to check out of the grind, move to the mountains and run it there's a lot more potential. Another option we are looking at is an automated vending market that would take the place of the store, and then rent out the other side of the building as a restaurant. That way you don't have to be at the store or pay someone to sit there.

I forgot to mention it has fiber internet at the store. So it could double as an office. It also has a full bathroom with shower and tub and water heater and another male/female set of toilets on the other side of the building. Years ago it was setup with a Laundromat in it.
BTHOtrolls
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AG
Have you thought about offering your current tenant the chance to buy your property?

There are loans that can help small business owners purchase the real estate they lease with zero down payment. I recently worked on a deal like this, and the business owner got an interest rate in the 7s on a 25-year term.

With those loan assumptions, you could figure out the purchase price needed for your tenant's debt service to match their current $1,500 rent.
MR Gadsden
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Yes, 3 years ago we offered a lease with option to buy. He had incentive to purchase within the first 12 months where we gave him a discounted price. We even offered owner financing to him if he could put up enough down payment. He kept saying for the last 3 years that he was getting his finances in order and was going to get a bank loan to buy it. Nothing has ever come of it. He's been a good renter, we wanted to see him buy the place but have come to the realization it's not going to happen.
sts7049
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AG
does your dad live nearby i guess? i know diddly-poo about the area and where you could live if you ran it day to day
MR Gadsden
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Yes..my folks live about 8 miles on the other side of Cloudcroft. If you like the mountains Cloudcroft (8000+ ft elevation) is a good option, if you like the desert Alamogordo is about the same distance down the mountain. We have a vacation rental down in Alamo that we could also include in the deal

If you haven't been in the area, it's a great spot to check out. Hiking and waterfalls, camping, hunting, White sands.. Beautiful area.
oldarmy76
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Small world…I actually bought a Gatorade and some gas there last year.
Red Pear Luke (BCS)
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Sponsor
AG
oldarmy76 said:

Small world…I actually bought a Gatorade and some gas there last year.


We drove thru there in December 2020 in an RV and stopped at the store so I could go buy some road snacks and water while mama breastfed the baby!

Incredible to come down the side of the mountain into Alamogordo while the sun was setting. Great trip until we couldn't find an RV camping spot for the night
HarleySpoon
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AG
Fuel storage tanks above ground or below ground and when were they installed?
94chem
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Is it near the furniture store and the place that sells pottery?
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
MR Gadsden
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HarleySpoon said:

Fuel storage tanks above ground or below ground and when were they installed?


In ground and I'll have to check with my dad on the install date.
MR Gadsden
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94chem said:

Is it near the furniture store and the place that sells pottery?


Yes, those are all in that High Rolls/Mountain View area.
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