NE Nob Hill Retail Strip Investment

Retail-Commercial for Sale
Catylist Listing ID: 30151735
Property Subtypes: Street Retail
Building Size (RSF): 2,910 SF
Gross Land Area: 6,250 SF
Sale Price: $210,000
Unit Price: $72.16 PSF
Property Use Type: Investment
Building Name: Harris Bldg
Usable Size (USF): 2,910 SF
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 8/15/2018

Overview / Comments

Perfect small investment for the area. Three suites on 36-month leases. Low maintenance, great location. Stable area for a small retail strip. Each space is separately metered for gas/electric. Each unit has a lavatory (Non-ADA), two units have gas space heaters and evaporative cooling. The middle unit is equipped with a combo air conditioning unit. To the rear of the property is an asphalt parking lot with 8 parking spaces. Constantly cared and maintained by Owner/Manager.

Current Tenants

Tenant Business Name Tenant A
Industry Type Retail Trade
Annual Revenue $7,800 (Annual)
Current Rent $650 PSF (Annual)
Lease Expiration 6/2020
Escalations 3% annual
Tenant Business Name Tenant B
Industry Type Retail Trade
Is Renting? Yes
Annual Revenue $7,800 (Annual)
Current Rent $650 PSF (Annual)
Lease Expiration 8/2020
Escalations 3% annual
Tenant Business Name Tenant C
Industry Type Retail Trade
Is Renting? Yes
Annual Revenue $7,800 (Annual)
Current Rent $650 PSF (Annual)
Lease Expiration 7/2020
Escalations 3% annual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: University
Taxing Authority: Bernalillo
Tax ID/APN: ABQ133572
Zoning: C-2 - Community Commercial Zone
Retail Clientele: Family, Business
Property Located Between: San Mateo & Washington
Feet of Frontage: 50
Site Description: Located on the South side of Lomas with 50 feet of frontage. Just East of Washington. Lomas is noted to be a major East/West arterial street.
Area Description: Residential commercial. The general area is predominantly older single family residences. Commercial development includes restaurants, retail, and automobile sales lots.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1950
Roof Type: Flat
Construction/Siding: Stucco
Total Parking Spaces: 8
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Evaporative Cooler, Package Unit
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 008 030J L FINLEY SUB L8&9

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,616 140,477 308,526
Median Age: 41.23 35.67 37.64
Households: 9,433 62,227 135,375


Photograph of Listing Agent

Tim Lopez

KW Commercial CARNM CIE Member
Photograph of Listing Agent

Laurette Partain

KW Commercial CARNM CIE Member
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