STNL Pep Boys | Corporate Guarantee | 5+ Years Remaining
|Catylist Listing ID:
Free-Standing Building, Vehicle Related
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||Net Leased Investment (NNN)
||Cash to Seller
Overview / Comments
Marcus & Millichap is pleased to present this Pep Boys Supercenter in Albuquerque, New Mexico. Albuquerque is New Mexico’s most populous city. The lease is guaranteed by The Pep Boys Manny, Moe & Jack of Pennsylvania, Corporation (Corp), which is a wholly owned subsidiary of Icahn Enterprises, Limited Partnership (LP). Icahn Enterprises ranked number 168 on the June 2017 Fortune 500 List. The tenant is operating under a triple-net (NNN) lease featuring zero landlord responsibilities. There are one- and-half percent rent increases annually.
This highly visible Pep Boys is located along San Mateo Boulevard, a major corridor in Albuquerque with daily tra ic counts that exceed 40,000 vehicles per day (VPD). Additionally, Pep Boys is less than half of a mile from Interstate-25, and is the first auto parts and service center upon exit of the interstate. More than 160,000 vehicles travel along this interstate daily. Pep Boys benefits from being surrounded by several used car dealers including: C U Auto Sales and Best Deals on Wheels. The subject asset is located within a dense trade area. There is more than 800,000 square feet of retail within one-mile. National credit anchors include: Ross Dress for Less, Albertson’s Market, and Cinemark Movies.
Pep Boys benefits from strong demographics. There are more than 250,000 residents with an average household income (AHHIC) greater than $65,000 within five-mile radius. Additional tenants in the immediate vicinity include: Dollar Tree, SUBWAY, Taco Bell, Albertsons, Verizon, Chick- Fil-A, Walgreens, Sonic, Golden Corral, and many more.
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