For Sale
$1,876,500

9620 Eagle Ranch RdAlbuquerque, NM 87114

High-yield Circle K investment. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 2023-built, 3,700 square foot Circle K convenience store and gas station situated on a 1.57-acre lot in Albuquerque, New Mexico. The property boasts a 15-year absolute NNN ground lease with a corporate guarantee from Circle K, a tenant with an investment-grade credit rating of BBB+. The lease includes eight 5-year renewal options and features an 8% rent increase every five years during the primary term and options. The property is strategically located at the signalized intersection of Eagle Ranch Road (17,200+ vehicles per day) and Irving Boulevard (19,100+ vehicles per day), less than a mile from Cottonwood Mall, New Mexico's second-largest mall. The large-format store includes 14 fueling positions. The current Net Operating Income (NOI) is $98,500, resulting in a 5.25% cap rate. The asking price is $1,876,500, representing a price per square foot of $507.16. This below-replacement-cost property offers a secure, high-yield investment with significant long-term growth potential. The lease commenced January 1, 2024, and expires January 1, 2039, leaving a substantial remaining lease term of approximately 14.1 years. This is a truly exceptional opportunity for a savvy investor seeking a stable, high-return investment in a prime Albuquerque location.

Highlights

  • 2023-built, 3,700 square-foot convenience store and gas station on a 1.57-acre lot in Albuquerque, NM.
  • 15-year absolute NNN ground lease with 8% rent increases every 5 years and eight 5-year renewal options.
  • Large-format Circle K with 14 fueling positions.
  • Located on a signalized intersection of Eagle Ranch Road (17,200+ VPD) and Irving Boulevard (19,100+ VPD).
  • Less than one mile from Cottonwood Mall, New Mexico's second-largest mall.
  • Investment-grade tenant (Circle K) with a BBB+ rating, over 15,000 locations, and $7.8 billion in revenue.

Property Details for 9620 Eagle Ranch Rd

Property type
Retail properties, Retail space
Square Feet
3,700 SF
Year Built
2023
Lot Size (sq. ft)
68,389 SF

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.1890159
Longitude
-106.6634521
9620 Eagle Ranch Rd, Albuquerque, New Mexico

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9620 Eagle Ranch Rd
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