7% CAP with new 5 year NNN lease

Industrial for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30794178
Property Subtypes: Flex Space, Manufacturing, Mixed Use, Light Industrial, Net Leased, Warehouse/Distribution, Other
Condo? Yes
Building Size (RSF): 5,779 SF
Gross Building Area: 15,000 SF
Gross Land Area: 1.28 Acres
Sale Price: $1,242,000
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: 6919 Montgomery Blvd. NE
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 5/12/2022

Overview / Comments

Newly leased hydroponics and cannabis cultivation facility on Montgomery Blvd!!! Single tenant 100% occupied condo with $87,000 NOI in place on a 5 year NNN lease agreement (option to extend for 5 additional years). Over $250,000 of improvements recently paid by tenant for a strong long-term commitment to the property. Outstanding real estate to own long term with minimal landlord responsibility.

Over 34,000 vehicles per day drive by this site. New 277/480v electric service.

***May be purchased separately or combined with Condo C for an additional $1,242,000 at a similar cap rate.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Far Northeast
Tax ID/APN: 101806149302640420
Is Condo?: Yes
Zoning: MX-M - Mixed-use: Moderate Intensity
Property Located Between: Louisiana and San Pedro
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,524 157,066 351,043
Median Age: 38.36 40.22 38.75
Households: 10,187 71,660 154,027

Contact

Photograph of Listing Agent

Mark Thompson

C&S Real Estate and Development LLC
CARNM CIE Member
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