#2 HIGHEST VPD CORNER IN THE STATE WITH GUARANTEED CASHFLOW
Retail | 5.43% CAP | 16,104 SqFt
Marketing description
Rarely does a commercial real estate opportunity of this caliber come to market in New Mexico. This exclusive two-parcel portfolio controls the entirety of the #2 busiest hard corner intersection in the State of New Mexico — Montgomery Boulevard and San Mateo Boulevard NE — commanding 75,000 to 80,000 vehicles per day. Situated against the iconic backdrop of the Sandia Mountains, the portfolio totals approximately 16,104 SF of retail building area across 1.49 acres of irreplaceable urban land, both parcels fully leased under net lease structures delivering immediate, dependable cash flow from day one. The anchor asset at 4340 San Mateo Blvd NE is a 14,454 SF big-box retail building on 1.24 acres, corporate-guaranteed by CVS Pharmacy under an Absolute NNN lease running through August 2033. With CVS currently dark, the incoming owner holds a powerful dual-track position: negotiate a lease buyout directly with one of America’s largest pharmacy corporations, or sublease the space to a qualified tenant — creating two layers of financial protection atop existing corporate-backed income. The companion parcel at 5260 Montgomery Blvd NE is a 1,650 SF freestanding retail building freshly leased to In and Out MVD on a brand-new personally guaranteed 5-year NNN lease with 3% annual rent escalations. Monument signage captures both southwest and northwest traffic flows maximizing daily exposure. With a 2025 five-mile population of 300,035 and average household income of $88,000, this is one of the rarest properties to hit the New Mexico market in over a decade — uniquely positioned for an institutional buyer, an owneruser seeking a CVS buyout, or a visionary redevelopment group.
Investment highlights
TENANT LINE UP AND LEASE INFO:
- TENANT: CVS
- ADDRESS: 4340 San Mateo Blvd NE, Albuquerque, NM 87110
- BUILDING SIZE: 14,454 SF
- LAND AREA: 1.24 ACRES
- ANNUAL RENT: $361,796
- MONTHLY RENT: $30,149/month LEASE TYPE: Absolute NNN GUARANTEE: Corporate (CVS Corp.)
- LEASE EXPIRATION: November 24, 2033
- OCCUPANCY STATUS: Dark – Rent Paying
- TENANT: IN AND OUT MVD
- ADDRESS: 5260 Montgomery Blvd NE Albuquerque, NM 87110
- BUILDING SIZE: 1,650 SF
- LAND AREA: 0.25 ACRES
- ANNUAL RENT: $32,175
- MONTHLY RENT: $2,681/month LEASE TYPE: NNN + 3% Annual Steps
- GUARANTEE: Personal Guarantee
- LEASE TERM: 5 Years (Brand New)
- LEASE EXPIRATION: November 30, 2030
- OPTION TO RENEW: Yes
- #2 BUSIEST INTERSECTION IN NEW MEXICO 75,000–80,000 vehicles per day at Montgomery & San Mateo. Full hard corner control of one of Albuquerque’s most irreplaceable commercial nodes.
- CORPORATE-GUARANTEED ABSOLUTE NNN CVS Pharmacy corporate guarantee — zero landlord responsibilities. Taxes, insurance, and maintenance fully borne by tenant through August 2033.
- BUILT-IN RENT ESCALATIONS In and Out MVD lease includes 3% annual base rent increases, delivering compounding income growth throughout the 5-year term with renewal option.
- TRUE ABSOLUTE NNN — FULLY PASSIVE CVS is Absolute NNN — the gold standard of passive income. No landlord management, maintenance, taxes, or insurance obligations whatsoever.
- REDEVELOPMENT & OWNER-USER POTENTIAL Full hard corner assemblage on NM’s #2 intersection. Prime candidate for institutional redevelopment or owner-user CVS buyout negotiation.
- PREMIER MONUMENT SIGNAGE Monument signage facing SW and NW captures all oncoming traffic from both arterials — maximum brand exposure for future tenants or operators.
- DENSE, AFFLUENT TRADE AREA 300,035 residents within 5 miles (2025). Average household income of $88,000. One of Albuquerque’s strongest and most stable consumer trade areas.
- ONCE-IN-A-DECADE MARKET OFFERING Properties of this caliber, location, and strategic depth have not appeared in the New Mexico market in over ten years. True institutional-grade scarcity
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