Retail Property–long term lease–8% cap rate!!!

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30458178
Status: Pending
Building Size (RSF): 1,541 SF
Gross Building Area: See Agent
Sale Price: $380,000
Unit Price: $246.59 PSF
Property Use Type: Investment
Building Name: Natural RX
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 6/30/2020

Overview / Comments

Great retail property in North I-25 submarket. Long term tenant in place through 9/30/2027 on NN lease with rental increases every other year. $30,400 NOI translates to 8% cap rate at list price. May be combined with other properties and similar terms for up to $1,150,000.

Call listing broker for details. Traditional financing may not be available. Do not disturb tenant. Square footage estimated and should be verified.

Attachments & Media

Current Tenants

Tenant Business Name Natural RX
Suite Number E
Lease Expiration 10/2027
Escalations None.
Tenant Notes Do not disturb tenant. Contact listing broker prior to any showings. Landlord pays for insurance premium and tenant pays for repairs, maintenance and property taxes. $5000 security deposit held by landlord.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Tax ID/APN: 101606439830910918
Zoning: NR-LM - Non-residential: Light Manufacturing
Retail Clientele: Other
Property Visibility: Fair
Largest Nearby Street: Alameda Blvd
Tenancy: Single Tenant
Property Condition: Good
Construction/Siding: Stucco
Parking Type: Surface, Other
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,753 57,122 237,526
Median Age: 37.47 40.85 40.48
Households: 2,487 25,064 101,385

Contact

Photograph of Listing Agent

Mark Thompson

C&S Real Estate and Development LLC
CARNM CIE Member
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