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

Retail-Commercial for Sale
Catylist Listing ID: 30458178
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: 7/12/2019

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.

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

Cauwels & Stuve Realty and Development Advisors
CARNM CIE Member
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