1921 Girard Blvd Albuquerque, NM 87106

This Albuquerque, NM industrial property presents a compelling investment opportunity. The 44,350-square-foot warehouse, built in 1981 and extensively renovated in 2024, sits on a 2.77-acre lot. A new 10-year net lease (NNN) with Pelican Products, Inc., a globally recognized company, commenced July 1, 2016, and expires July 31, 2034, offering 9.9 years of remaining lease term. The lease includes a corporate guarantee and boasts rare 4.5% annual rent increases, providing a strong hedge against inflation. The property features a new silicone CentiMark roof coating (10-year warranty), full HVAC replacements, new sprinkler systems, expanded and refurbished parking lot, and new fencing. The 18-foot ceiling height and ample lot size allow for potential outdoor storage. Located less than a mile from Albuquerque International Airport and near major transportation routes (I-25 and Gibson Blvd), this property benefits from a prime location in a low-vacancy market (2.5% in Q2 2024). The current NOI is $388,062, resulting in a 6.55% cap rate and a price per square foot of $133. The lease includes two 5-year options at fair market value, followed by 4.5% annual increases. The asking price is $5,925,000, with a land value of $49 per square foot. This is an exceptional opportunity for investors seeking a stable, long-term, and inflation-protected investment.