NWC 2nd St. & Alameda Blvd.
Albuquerque, NM 87114 | 0.9 Acres / 2,821 SF | Investment Property For Sale
$1,800,000.00
Murphy USA | 20-Year Ground Lease | Corporate Credit (Fortune 500) | Absolute NNN | New Construction
Investment Property For Sale
Price | $1,800,000.00 |
---|---|
Size | 0.9 Acres / 2,821 SF |
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
Location
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