NNN Retail Investment Opportunity
4801 Alameda Blvd NE provides a unique opportunity for an investor to acquire a 91.5% occupied, retail/showroom building located in Albuquerque, New Mexico's desirable North I-25 Corridor submarket. The offering includes 26,638+/- square feet of physical improvements situated on 2.02 acres, plus an additional 1.06-acre vacant parcel of adjacent, separately-platted land that affords development potential and cash-flow upside.
Six of the seven total retail units are leased to a diverse mix of tenants with staggered lease terms providing stable and predictable income with minimal management oversight for the passive investor.
- Construction: Single-story, metal framed, split faced block exterior
- Utilities: Separately-metered gas (NM Gas Co) and electric (Public Service Co. of NM – PNM).
- Parking: 117 parking spaces. 4.4 spaces per 1,000 SF
- Ingress/Egress – Right-in, Right-out on Alameda. Median break in Alameda.
- Across from the new CNM Campus (Architectural & Art Design Depts.) with 1,100+ students and 300+ faculty
- Land Size: Tract C1-A (1.06 acres – excess parcel), UPC: 101706432839211115 Tract C1-B (2.02 acres - underlying retail building), UPC: 101706435639011113
- Zoning: SU-1, C-1 Uses
- Legal Description: TR C1-A and C1-B PLAT OF TRACT C1-A THRU C1-D INCLUSIVE RICHFIELD PARK ￼SUBDIVISION
- 4801 Alameda NE is the dominant multi-tenant retail property in the Alameda corridor.
- Modern construction design, built in 1999.
- Below market rents offer increased cash flow and future upside potential
- Stable and diverse tenant mix mitigates exposure to industry-specific declines.
- Separately-platted 1.06 acre land parcel affords the investor the opportunity for additional upside from new retail development.
- High quality construction offers attractive design and requires minimal maintenance.
- High traffic flows (±40,000 vehicles per day) and extensive signage provide excellent exposure for retailers.
- Direct access from signalized intersection and median cut on Alameda offer unmatched ingress/egress.
Due Diligence Materials
Income & Expense Summary
Stabilized Asset With Long-Term Cash Flow
4801 Alameda provides investors with much sought after stability as a total of 77% of the building (20,439 SF) is leased thru 2018, and 62% (16,545 SF) is leased thru early 2022. The market’s demand for quality retail space within the Alameda corridor is exemplified by the building’s impressive leasing activity since 2012, which totals 20,439 square feet.
*The overall value is based on the net operating income derived from the 26,638+/- square foot retail building capitalized at 7.5% plus the $12.58/sf value for the 1.06 acres of vacant land.
The six (6) leased units are occupied by a diverse mix of retail tenants with staggered lease terms. There is little competition in the Alameda corridor for comparable uses and the tenants are primarily supported by the growing employment base in the immediate area. 4801 Alameda Blvd NE has been repositioned from a “Design Center” concept catering to the residential industry to a more balanced general retail center capable of supporting a broader user base.
4801 Alameda Blvd NE is the premier multi-tenant retail/showroom property in the Alameda corridor. Situated at the northwest corner of a signalized intersection, the property has excellent exposure and is easily accessible with direct ingress/egress from both Alameda Blvd and Jefferson St. The immedate trade area is served by a strong existing daytime employment population and heavy commuter traffic between Albuquerque’s east and west sides. Traffic counts at the Alameda Blvd and Jefferson St intersection are exceptional with over 40,000+/- vehicles per day.