4410 Central AveAlbuquerque, NM 87105

Property Details for 4410 Central Ave

Year built

1975

Lot size

1.27 AC

Property size (Sq ft)

15,680 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

1-012-057-141-419-2-07-87

APU

101205714141920787

Description

This exceptional investment opportunity presents a 16,376 square-foot freestanding retail building, fully occupied by Harbor Freight Tools, located at 4410 Central Ave SW, Albuquerque, NM 87105. The property sits on a 2.64-acre lot and boasts a prominent pylon sign, ensuring high visibility in a bustling retail corridor. The building underwent a complete renovation in 2019. The current lease, a Net Net (NN) structure with a corporate guarantee from Harbor Freight, commenced June 9, 2016, and extends until April 29, 2030, with four 5-year renewal options. The lease features a below-market rent of $11 per square foot, with a 5% annual increase cap. The property generates a strong net operating income (NOI) of $156,376.96, resulting in an attractive 6.25% capitalization rate. The asking price is $2,502,031. The property is zoned MX-M and benefits from a high-traffic location with national co-tenancy including Burlington, Ross Dress for Less, Conn's, Home Plus, Five Below, and Starbucks. Additional on-site amenities include an ATM. Owner financing is available. This is a rare opportunity to acquire a stable, high-performing retail asset anchored by a financially sound national tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $3,330,955

  6.5%

  $3,074,728

  7%

  $2,855,104

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,404,762

  Geo Method

  $3,264,614

• Alternative Use

  Use

  Valuation

  Residential

  $2,593,648

  Hospitality

  $2,375,768

  Educational

  $1,976,611

  Medical

  $2,044,589

  Retail

  $3,074,728

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0844

Longitude

-106.688

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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