100% Occupied - 2 National Credit Tenants

Office for Sale
Catylist Listing ID: 30578638
Property Subtypes: Business Park, Mixed Use, Office Building
Building Size (RSF): 21,851 SF
Gross Building Area: See Agent
Sale Price: $4,150,000
Unit Price: $189.92 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 5501 Jefferson
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.08%
Last Updated: 9/21/2020

Overview / Comments

5501 Jefferson is a single-story office building in the prominent North I-25 Corridor. 100% occupied with two national credit tenants. The property benefits from its proximity to Interstate 25. This location provides direct access to all quadrants of Albuquerque and is within walking distance to numerous restaurants, shops, walking tails and entertainment venues.

• 7.00% Cap / $4,150,000
• 100% leased to two credit tenants: Bank of the West (BNP Paribas) with
$76MM in deposits at this location (#4 Bank of the West in MSA) & Old
Republic Title Company (NYSE: ORI)
• Stable cash flow with annual rent escalations
• Exceptionally well located in #1 Albuquerque Central Business District
• Below market rents
• Constructed in 2000 and priced below replacement cost

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Taxing Authority: Bernalillo County
Tax ID/APN: 101706116546520228
Zoning: NR-BP - Non-residential: Business Park
Property Located Between: SEC of Jefferson & Singer - just west of Interstate 25
Property Visibility: Excellent
Highway Access: Interstate 25
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 21,851 SF
Year Built: 2000
Parking Ratio: 4.5 (per 1000 SF)
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,865 112,839 314,343
Median Age: 29.5 39.27 39.08
Households: 4,609 50,336 137,659

Contact

Photograph of Listing Agent

Jim P Dountas

CBRE
CARNM CIE Member
Photograph of Listing Agent

Jason Lott

CBRE CARNM CIE Member
Photograph of Listing Agent

Marguerite Haverly

CBRE CARNM CIE Member
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