NWC 2nd St. & Alameda Blvd.

Additional Information

Murphy USA
NWC 2nd St. & Alameda Blvd.
201 Alameda Blvd. NW
Albuquerque, NM 87114

Offering Summary

Purchase Price: $1,800,000
Net Operating Income: $90,000*
Cap Rate: 5.00%
Lease Type: Absolute NNN Ground Lease

_{*additional income of $622/mo ($7,464.00/yr) from Twice the Ice lease not included in the NOI}

Investment Highlights

• Single-Tenant NNN Ground Lease – Murphy USA
• New 20-year ground lease
  – Rent Commencement – March 22, 2021
  – Zero landlord responsibilities
  – Significant capital investment by Tenant
• Strong credit tenant (Murphy Oil USA, Inc.)
  – BB+ credit rating
  – Traded on the NYSE (MUSA)
  – Operates more than 1,400+ locations
• Building Size: +/- 2,824 SF
• Land Size: +/- 0.9 Acres
• Attractive 8% rental increases every 5 years (base term and options)
• Strong real estate fundamentals
  – Hard corner, signalized intersection
  – Neighboring tenants include Sonic, Champion Xpress Car Wash and Circle K among many others
  – This location sells alcohol (high barrier to entry and very desirable)
• Significant traffic counts with excellent visibility
  – Alameda Blvd (Hwy 528) is a river crossing (connects the east and west sides of the City)
  – Over 40,000 cars per day at the intersection of Alameda Blvd. and 2nd St.
• Bonus/Additional Income
  – Twice the Ice has an ice machine on the site and pays $622/month ($7,464.00/yr) which is not included in the NOI