For Sale
$2,599,999

2600 Karsten CtAlbuquerque, NM 87102

Carvana NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
117
This Albuquerque, NM industrial property offers a compelling investment opportunity with a strong, credit-rated tenant, Carvana. The 8,150 square foot distribution warehouse, built in 2006, sits on a 3.032-acre lot and features 26 dock-high doors and ample parking (25 spaces). Currently operating under a Net Lease (NNN) agreement with a 3-year remaining term and two 3-year renewal options, the property boasts 100% occupancy since September 1, 2021. The lease includes annual rent bumps of 3%, ensuring consistent income growth. The property's strong financial performance is reflected in its 6.56% cap rate and a substantial NOI of $170,465. Located off Interstate 25, near the Albuquerque International Sunport, this strategically positioned asset benefits from high traffic visibility and convenient access. The property is zoned NR-LM and offered as a fee-simple ownership, making it ideal for 1031 exchange investors. The asking price is $2,599,999, translating to $319.02 per square foot. This is a rare opportunity to acquire a high-performing industrial asset with a secure, long-term tenant in a thriving market.

Highlights

  • Investment-grade tenant Carvana, a leading online used-car retailer.
  • Strong financial performance with significant revenue growth and profitability.
  • Nationwide presence with as-soon-as-next-day delivery in 300+ markets.
  • Publicly traded company (NYSE: CVNA) demonstrating market leadership.
  • Proven resilience during the COVID-19 pandemic, showcasing adaptability and strong demand.

Property Details for 2600 Karsten Ct

Property type
Warehouses, Industrial properties
Square Feet
8,150 SF
Year Built
2006
Buildings
1
Stories
1
Lot Size (sq. ft)
132,074 SF

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.055386140253
Longitude
-106.64150911874
2600 Karsten Ct, Albuquerque, New Mexico

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2600 Karsten Ct
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