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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

Array

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

Cole Flanagan, CPA, MBA

Partner
505.338.4107

Jake Mechenbier

Director
505.338.4186

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