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Walgreens

Former Walgreens For Sale or Lease Or Build To Suit

Listing Contacts

Active

Asking Price: $6,495,000
Earnest Money  Deposit: 100% min.
Address 

10300 Central Ave SE, Albuquerque, NM 87123

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Date Added
Jan 31, 2025
Days on Market
140 days
Time Since Last Update
46 days

Details

Property TypeRetail
SubtypePharmacy/Drug
ClassC
Lease TypeAbsolute NNN
TenancyVacant
Brand/TenantWalgreens
Square Footage16,576
Net Rentable (sq ft)16,576
Price/Sq Ft$391.83
Cap Rate5.95%
NOI$386,163
Year Built2006
Buildings1
ZoningMX-H
Lot Size (acres)1.77
Parking (spaces)64
Rent BumpsNo
APN1-020-056-527485-1-16-17
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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

Valuation Calculator

Valuation Calculator

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

Valuation Metrics

0
DSCR
5.95%
Cap Rate
5.95%
ROI
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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


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