555 Broadway BlvdAlbuquerque, NM 87102

Property Details for 555 Broadway Blvd

Year built

2003

Lot size

3.11 AC

Property size (Sq ft)

64,980 SF

Property type

Office buildings

APN

1-014-058-374-019-4-04-02

APU

101405837401940402

Description

This exceptional Albuquerque investment opportunity presents a fully leased, 62,078 square foot Class A office building, boasting a strong 8.75% cap rate. The property, constructed in 2003, comprises a single, two-story building situated on 3.1 acres and features a substantial 251-space parking lot (including six motorcycle spaces). Currently housing two tenants, the Bureau of Reclamation and the Social Security Administration, both are under recently renewed long-term leases; a 7-year lease with the SSA and a 7-year lease with the BoR (including options for a further 5 years). These mission-critical facilities benefit from significant tenant improvements and robust security systems. The building itself is meticulously maintained, showcasing durable masonry and stucco construction. Located at 555 Broadway Blvd NE, Albuquerque, NM 87102, this institutional-grade investment offers exceptional stability and return, backed by the AA+ S&P credit rating of the United States Government. The property's 100% occupancy ensures immediate cash flow, making it an attractive proposition for discerning investors seeking a secure and high-yielding asset in a growing market. The Albuquerque metropolitan area's population of 562,599 (2021) further underscores the property's strategic location and long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $9,390,422

  6.5%

  $8,668,082

  7%

  $8,048,933

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,599,120

  Geo Method

  $5,368,648

• Alternative Use

  Use

  Valuation

  Residential

  $10,748,421

  Hospitality

  $9,845,496

  Educational

  $8,191,337

  Medical

  $8,473,050

  Retail

  $12,742,080

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0879

Longitude

-106.645

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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