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

Retail-Commercial for Sale
Catylist Listing ID: 30458205
Building Size (RSF): 1,678 SF
Gross Building Area: See Agent
Sale Price: $380,000
Unit Price: $226.46 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 upscale business park in southern Rio Rancho. 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 C
SF of Space Occupied 1,678 SF
Current Rent $32,400 PSF (Annual)
Lease Expiration 10/2029
Escalations None.
Tenant Notes Do not disturb tenant. Landlord pays insurance premium. Tenant pays for repairs, maintenance and property taxes. Landlord has $5,000 security deposit.

Additional Details

Nearest MSA: Albuquerque
County: Sandoval
Submarket/Township: Rio Rancho
Tax ID/APN: R152826
Zoning: C-1
Retail Clientele: Other
Largest Nearby Street: Hwy 528
Tenancy: Single Tenant
Property Condition: Excellent
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,415 81,903 167,836
Median Age: 38.95 38.9 38.06
Households: 3,737 32,280 65,063

Contact

Photograph of Listing Agent

Mark Thompson

Cauwels & Stuve Realty and Development Advisors
CARNM CIE Member
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS┬« - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.