Blake's Lotaburger Ground Lease

Retail-Commercial for Sale
Catylist Listing ID: 30749263
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 2,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.02 SF
Sale Price: $1,945,263
Unit Price: $972.63 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 4.75%
Last Updated: 7/21/2021

Overview / Comments

- 20 Year Absolute Triple-Net (NNN) Ground Lease | 16+ Years Remaining
- Attractive Rent Increases | 10.0% Every 5 Years
- Corporate Tenant | 93 Locations

Marcus & Millichap is pleased to present the exclusive listing for a Blake’s Lotaburger located at 4121 Coors Blvd NW in Albuquerque, NM. The property consists of approximately 2,000 square feet of building space and is situated on approximately 1.02 acres of land. The property is subject to a 20-year Absolute NNN ground lease. The rent is $92,400 starting 8/1/2021 and there are 10.0% increases every 5 years. The increases will continue through the four, five-year tenant renewal options.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: West Mesa

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,960 94,302 230,602
Median Age: 35.82 37.73 35
Households: 5,123 37,923 89,941

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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