Listed by Resolut RE Albuquerque
$1,401,084
Old Town Albuquerque Vet Center Investment
Details
Property Type Office
Sub Type Traditional Office
Square Footage 5,526
Units 2
Cap Rate 8.50%
NOI $119,092
Occupancy 100%
Tenancy Multi
Brand/Tenant Albuquerque Veterans Center, Monarch Del Rey Barber Shop
Lease Type Gross
Price per SqFt $254
Broker Co-Op Yes
Class B
Year Built 1995
Zoning MX-M (Moderate Density)
Investment Type Stabilized
2001 Mountain Rd NW, Albuquerque, NM 87104
Marketing description
2001 Mountain Rd NW is a multi-building, mixed-use condominium project as part of Felipe Plaza in Old Town Albuquerque. Building F consists of two tenants, the Albuquerque Veterans Center (5,076 SF) and Monarch Del Rey Barber Shop (450 SF) and is 100% leased. Albuquerque Vet Center pays rent, plus a set operating cost, whereas Monarch pays electric and janitorial. Both leases have short terms remaining, making this investment a great play for an experienced investor or even an owner/user who plans to occupy the office space. Common areas are covered by the Felipe Plaza Condo Association and property is managed by Colliers International. This Old Town building features a beautiful Spanish-style stucco with decorative vigas and blends in well with the historic architecture of the historic area. The building is connected to the parking garage for the condominium and is right in the heart of the Sawmill District, joining Hotel Albuquerque, Hotel Chaco, Sawmill Market and is directly north of the Historic Old Town Albuquerque.
Investment highlights
- Two tenant office investment with the U.S. Department of Veterans Affairs and Barber Shop
- Prime Old Town Albuquerque location within Felipe Plaza and adjacent to the Sawmill District
- Great opportunity for investor or owner/user with current leases expiring in 2027
- VA pays rent and majority of operating expenses associated with the investment
- Beautiful Spanish-style building with well-maintained common areas and parking structure
- 100% leased property
- Building connected to parking garage for the condominium
Listing Contacts
Listed by Resolut RE Albuquerque
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$119,092.10
$9,924.34/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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