Great Tenants!

Retail-Commercial for Sale
Also listed as Industrial
Catylist Listing ID: 30348500
Property Subtypes: Free-Standing Building, Mixed Use, Movie Theatre, Post Office, Retail-Pad, Street Retail, Vehicle Related, Other
Building Size (RSF): 65,145 SF
Gross Land Area: 2.61 Acres
Sale Price: $3,800,000
Unit Price: $58.33 PSF
Ceiling: 17 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Baillio's
Sale Terms: Cash to Seller
Cap Rate: 7.39%
Average Occupancy Rate: 100
Last Updated: 11/21/2020

Overview / Comments

Flyer revisions are in process. A video can be seen on Youtube under the name: Investment Property 5301 Albuquerque, NM. Here is a "Value Added" retail investment property located on the very desirable Menaul retail corridor with great visibility, good traffic counts, good access, good access to I-40, and great signage. This retail investment also includes the Verizon Cell Tower lease. The four story tower portion of the building was originally built for a moving & storage company, it has the freight elevator still in place, and is a good candidate for a secure storage facility for this portion of the building. Builders Source, the main Tenant, has 3 five year options to renew the lease with 2% annual increases in the rent. The tenant, Builders Source, which has annual sales of 50 million +, owns not only Baillio's, but Appliance Liquidators in Albuquerque, and has Builders Source stores in Albuquerque, Santa Fe, Las Cruces, and El Paso. Builders Source is willing to consider extending the lease term for this property. The main showroom area is 34,041sf, office area 4,529sf, mezzanine 5,072sf, 2nd floor space 7,120sf, 3rd floor space 7,130sf, 4th floor space 7,253sf.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Northeast
Submarket Type: Central Business District
Taxing Authority: Bernalillo County
Tax ID/APN: ABQ64195
Zoning: MX-M - Mixed-use: Moderate Intensity
Retail Clientele: Business
Property Located Between: Menaul & San Mateo
Property Visibility: Excellent
Largest Nearby Street: Madeira
Feet of Frontage: 280
Traffic/Vehicle Count: 31,300
Highway Access: Menaul & San Mateo, with easy access to I-40
Airports: Albuquerque Sunport
Site Description: Mostly level site with paved onsite parking
Area Description: Highly sought after retail corridor located close to major shopping malls, and established residential neighborhoods.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Average
Year Renovated: 1982
Roof Type: Flat
Construction/Siding: Concrete - Tilt up
Exterior Description: Pained concrete
Total Parking Spaces: 99
Parking Ratio: 1.6 (per 1000 SF)
Parking Type: Surface
Parking Description: Paved onsite parking
Passenger Elevators: 1
Sprinklers: Dry
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: The tower is used for product storage, and is in a warehouse type finish. The showroom is finished with typical carpet, lighting, and product display.
Zoning Description: MX-M
Lot Frontage: 280
Lot Depth: 300'
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Land Ownership: Fee Simple
Legal Description: Tract A - 2 - A, and possibly Tract A- 1 - A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,418 152,719 356,196
Median Age: 39.79 37.01 38.15
Households: 8,499 68,691 156,159

Contact

Photograph of Listing Agent

Michael J. Contreras, CCIM

Sentinel Real Estate & Inv. CARNM CIE Member
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