John Dunn Shops

Price: $7,545,000
Sq. Ft.: 21,495
Cap Rate: 6.0%
Built: 1920/2013

The John Dunn Shops is the premier investment opportunity located in historic downtown Taos, NM, offered for sale for the only the second time in 41 years. This immaculately maintained, lushly landscaped, and tree-shaded outdoor pedestrian shopping area is located adjacent to the historic Taos Plaza and links it with both Bent Street and Camino de la Placita. With established long-term tenants, solid income, reasonable rents, and low/no vacancy, this unique property is a solid investment poised to take advantage of the continually improving Taos economy. Beloved by locals and visitors alike, John Dunn Shops is the community gathering place in the heart of the historic district.

This rare offering comprises three buildings:

The original home of John Dunn, which he built c. 1920, is a spacious adobe house with an enclosed porch on three sides. It is on the historic register. The Dunn family sold it in the late 1960s to a new owner who renovated it to accommodate seven small shops. In 2013, it was renovated again with a new roof, traditional plastering, and modern electrical and HVAC systems. Two shops have expanded into adjacent spaces; four retail shops and a coffee shop occupy the building today. (Building A)

John Dunn’s stable faced Taos Plaza on the south-east corner of the property. It was converted to a restaurant in the early 1970s and destroyed by a fire in 1983. In 1984, a completely new building was built on the site containing seven shops and four second-story offices. In 1990, the building was expanded to reach Bent Street with two more shops, a fifth second-story office, and a deli/cafe. Due to shop consolidations, the building today contains nine shops, the Deli/Café, and two offices. (Building B)

On the southwest corner, a new building in 1988 originally housed five shops on the first floor and two residential apartments with balconies above them. One shop expanded twice into adjacent spaces, so today there are three shops and two apartments in the building. (Building C)

Merchants regard the John Dunn Shops as a desirable location for a retail business. Retiring merchants have usually sold their businesses to new owners. Ten businesses and five owners have been in place for 30 or more years. Today, there are 16 retail shops, the deli/cafe, a coffee shop, two office tenants (both of whom are John Dunn merchants), and two residential apartments. In warm weather, there are also several seasonal street vendors.

  • Rare Investment Opportunity in Downtown Historic District of Taos, New Mexico | Adjacent to Taos Plaza
  • Comprised of 20+ Unique Shops, Galleries, and Restaurants in Three Separate Buildings Centered Around a Beautifully Landscaped Pedestrian Walkway
  • The John Dunn House is on the State Historic Register
  • 100% Occupied | 87% of the Gross Leasable Area has Triple-Net Leases
  • Diverse Tenant Base with Long-Term, Established Tenants | 10+ of the Tenants Have Been in Place for 30 or More Years
  • Extremely High Historical Occupancy Levels | Landlord States There Have Been No Vacancies Since Ownership Except for the Occasional Month Between Tenants for Renovations
  • Includes Two Second-Story Apartments with Balconies | Both Units Remodeled in 2023 with New Appliances, Cabinets, Fixtures, Saltillo Tile Flooring, HVAC Units, and More
  • Located in Taos Historic District Within a Five-Minute Walk to Six Museums | Near Many Hotels, Galleries, Historical Attractions, Restaurants, and Retail Shops
  • Taos is a Popular Destination for Artists, Historians, and Outdoor Enthusiasts | Home to Taos Art Colony and 80+ Galleries, Many Within a Five-Minute Walk of John Dunn Shops
  • Home to Taos Pueblo, the Only Living Native American Community Designated both a UNESCO World Heritage Site and a National Historic Landmark | Continuously Inhabited for More Than 1,000 Years
  • Close Proximity to Taos Ski Valley | First Certified B Corp Ski Resort in the World for Meeting High Standards of Social and Environmental Performance | 260,000+ Visitors per Year
  • Outdoor Enthusiasts Enjoy Easy Access to the National Forest, Wild Rivers Wilderness Area, and the Rio Grande River for Rafting, Kayaking, Mountain Biking, Fishing, Hiking and Camping
  • Newly Renovated Airport with Direct Flights to Major Cities Including Dallas, TX; Austin, TX; Burbank, CA; and Carlsbad, CA | Plans to Add Direct Service to Denver, CO