Listed by Sands Investment Group Austin, Sands Investment Group
$4,615,385
Red Robin - Albuquerque, NM (7.15% CAP)
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 6,157
Cap Rate 7.15%
NOI $330,000
Occupancy 100%
Tenancy Single
Brand/Tenant Red Robin
Lease Type Absolute NNN
Lease Term 17.9
Lease Expiration 05/31/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options 4 x 5 Year Options
Price per SqFt $750
Year Built 2001
Acreage 1.510
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/14/2014
Ground Lease No
Red Robin - Albuquerque, NM | 72,000+ VPD | Mall Outparcel | 24+ Year Operating History | ABS NNN
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 6,157 SF Red Robin located at 10009 Coors Blvd NW in Albuquerque, NM. This deal includes ~6 years remaining on an Absolute Triple Net (NNN) Lease with zero landlord responsibilities and 10% rent increases every 5 years, providing a healthy hedge against inflation and offering a secured investment.
Investment highlights
- Lease Term: ~6 years remaining on an Absolute Triple Net (NNN) lease with zero landlord responsibilities and a proven 24+ year occupancy history.
- Rent Increases: 10% rent increases every 5 years, providing a strong hedge against inflation.
- Tenant: Corporately guaranteed by Red Robin Gourmet Burgers and Brews (NASDAQ: RRGB), operating 500+ locations nationwide with $1.28B in 2023 revenue.
- Demographics: Population exceeds 191,301 with an average household income of $108,454+ within a 5-mile radius.
- Retail Positioning: Strategically located as an outparcel to Cottonwood Mall, the second-largest mall in New Mexico (1,041,680 SF), driving significant daily traffic.
- Traffic Counts: Positioned directly off Coors Blvd NW with traffic counts exceeding 72,000 vehicles per day.
- Nearby School: Adjacent to the sixth-largest high school in New Mexico, with 1,752 students.
- Market Overview: Albuquerque is the most populous city in New Mexico.
- Surrounding Retailers: Nearby national tenants include Costco, Hobby Lobby, Dillard’s, The Home Depot, Walmart Supercenter, Buffalo Wild Wings, Outback Steakhouse, Chili’s, BJ’s Brewhouse, Texas Roadhouse, LongHorn Steakhouse, Popeyes, Taco Cabana, Starbucks, Tropical Smoothie Cafe, and more.
Listing Contacts
Listed by Sands Investment Group Austin, Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$330,000.00
$27,500.00/mo
Valuation Metrics
0
DSCR
7.15%
Cap Rate
7.15%
ROI
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