Catylist ID: #30171289
10 Year Family Dollar NNN Lease - Rare Urban Location
Retail-Commercial for Sale
|Catylist Listing ID:||30171289|
|Property Subtypes:||Free-Standing Building, Street Retail|
|Building Size (RSF):||12,563 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.73 Acres|
|Unit Price:||$146.94 PSF|
|Property Use Type:||Net Leased Investment (NNN)|
|Building Name:||Family Dollar|
|Sale Terms:||Cash to Seller|
Overview / Comments
Absolute Investment Realty has been selected as the exclusive representative of this opportunity to own a rare metro area Family Dollar leased property located in one of the most underserved trade areas in Albuquerque, New Mexico. The site sits just blocks away from Albuquerque's Central Business District in the heart of Downtown. Family Dollar has sought a location in this trade area for over 10 years and has just signed a 10 year modified NNN lease for this property. The higher than average rental rate is a testament to the desirability of this location and the tenant’s commitment to the property.
Fundamental down-town infill location
+/- 12,563 SF building 100% leased to tenant
+/- 8,603 SF retail area.
The building includes an additional 3,960 Square feet of storage space.
Masonry & Steel Construction
Complete remodel of existing building
Brand new 20 year TPO roof
32 on site parking stalls on brand new parking lot
Modified NNN Lease
Landlord maintains roof and structure (Brand-new TPO roof with 15 year warranty, masonry & steel structure).
Tenant: Family Dollar Corporation
10 Year Initial Term
Six (6) Five year options
Five percent (5%) Rent increase in year 11
5% increases every 5 years.
Anticipated delivery date 10/31/2017
Rent commencement: 30 days following delivery
Attachments & Media
|Retail Clientele:||General, Family|
|Site Description:||Corporate Guaranteed Lease Minimal Landlord Responsibilities Fee-simple Ownership Complete Remodel Low Rent ($9.55/SF) Very Rare Metropolitan Location Corner Property Excellent Access, Visibility, & Signage Rent Commencement: Jan 12, 2018|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Proximity:||1 mile||3 miles||5 miles|
Alfredo BarrenecheaAbsolute Investment Realty CARNM CIE Member
Jeremy D NelsonAbsolute Investment Realty CARNM CIE Member
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