NE Nob Hill Retail Strip Investment

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30151735
Property Subtypes: Street Retail
Status: Pending/Contingent
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: 9/21/2017

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

Contact

Photograph of Listing Agent

Tim Lopez

Keller Williams Commercial Realty
CARNM CIE Member
Photograph of Listing Agent

Laurette Partain

Keller Williams Realty
CARNM CIE Member
Photograph of Listing Agent

Steven Vigil

Keller Williams Realty
CARNM CIE Member
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