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21462839
21462840

10300 Central Ave SE, Albuquerque, NM 87123

JH
CO ER.001314346
Antonoff & Co
Listed by Antonoff & Co
$6,495,000
488 days on market
Updated 100 days ago

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 $392
Class C
Year Built 2006
Buildings 1
Acreage 1.770
Zoning MX-H
Parking Spaces 64 spaces
Parking Per 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 - 226,000 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 (60,306 cars per day)

  • 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 500 businesses in a 1-mile radius

  • Over 60,843 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

JH
CO ER.001314346
Antonoff & Co
Listed by Antonoff & Co

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$386,163.00
$32,180.25/mo

Valuation Metrics

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DSCR
5.95%
Cap Rate
5.95%
ROI

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