10026 Central AveAlbuquerque, NM 87123

Property Details for 10026 Central Ave

Year built

2016

Lot size

1.12 AC

Property size (Sq ft)

7,056 SF

Property type

Retail space

APN

1-020-056-428-502-1-15-16

APU

102005642850211516

Description

This exceptional investment opportunity features a 7,056 square foot Advance Auto Parts store in Albuquerque, New Mexico, built in 2017 on a 1.12-acre lot. The property boasts a strong 7.3-year remaining lease term (initial 15-year lease) with a corporate guarantee from Advance Auto Parts, a Fortune 500 company. The Net Lease (NNN) structure minimizes landlord responsibilities, limiting them to the building's slab and structure. The tenant is responsible for roof, parking lot, and HVAC maintenance. The property offers 31 parking spaces and benefits from a prime location, just 1.5 miles from Kirtland Air Force Base and 5.5 miles from the University of New Mexico, ensuring a robust customer base. The Albuquerque International Sunport is also conveniently located 8.5 miles away. The property's strong financials include a 6.85% cap rate and a net operating income (NOI) of $143,000. The asking price is $2,087,591, translating to $295.86 per square foot. Three five-year lease options are available. The property's location offers excellent access to major highways and a dense population with high average household incomes within a 7-mile radius. This is a rare opportunity to acquire a high-quality, well-located, and financially sound net-leased property with a strong, creditworthy tenant. The property's strong location and tenant make it an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,498,932

  6.5%

  $1,383,629

  7%

  $1,284,798

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,532,145

  Geo Method

  $1,469,076

• Alternative Use

  Use

  Valuation

  Residential

  $1,167,143

  Hospitality

  $1,069,097

  Educational

  $889,476

  Medical

  $920,066

  Retail

  $1,383,629

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0717

Longitude

-106.536

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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