Listed by Antonoff & Co
$4,500,000
Walgreens
Details
APN 1-020-056-527485-1-16-17
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 16,576
Net Rentable (SqFt) 16,576
Cap Rate 5.95%
NOI $386,163
Tenancy Vacant
Brand/Tenant Walgreens
Lease Type Absolute NNN
Rent Bumps No
Price per SqFt $271
Class C
Year Built 2006
Buildings 1
Acreage 1.770
Zoning MX-H
Parking Spaces 64 spaces
Parking per 1,000 SqFt 3.86
Former Walgreens For Sale or Lease Or Build To Suit
Investment highlights
- Current zoning: MX-H (Mixed-use - High Intensity)
- Owner will consider a build-to-suit, subdivide building for multiple new tenants. Lease building “as-is” with negotiated tenant finish allowance, sell the property or redevelopment of the parcel
- Absolute Triple-Net (NNN) income from Walgreens Corporation until March 31, 2031
- Infill Albuquerque - 233,318 residents in growing 5 mile trade area
- Central Avenue is a major east-west street in Albuquerque known as the city’s “Main Street” and was once a significant part of Route 66
- Less than 1 mile off the I-40 freeway (approx. 68,000 to 74,000 vehicles per day NMDOT)
- Adjacent to Starbucks, Church’s, Chili’s, Taco Cabana, Jack-in-the-Box, Burger King, O’Reilly Auto Parts, Dutch Bros. Coffee, Freddy’s Frozen Custard
- Within one block of several well known big box retailers - Costco and Home Depot
- Within close proximity of other big box retailers such as Target, Sam’s Club, Walmart Supercenter, Pet Smart, Sandia Toyota, Office Max, Petco, Best Buy
- Over 400 businesses in a 1-mile radius
- Over 53,000 daytime employees within a 3-mile surrounding area
- Walking distance from the National Museum of Nuclear Science & History
- In close proximity to Sandia Science & Technology Park and Kirtland Air Force Base
- 15 minutes east of downtown Albuquerque
- 10 minutes from the Albuquerque International Sunport - the largest commercial airport in the vicinity with over 5.3 million passengers each year
Listing Contacts
Listed by Antonoff & Co
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$386,163.00
$32,180.25/mo
Valuation Metrics
0
DSCR
8.58%
Cap Rate
8.58%
ROI
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