12830 Central AveAlbuquerque, NM 87123

Property Details for 12830 Central Ave

Year built

1967

Lot size

0.64 AC

Property size (Sq ft)

2,414 SF

Property type

Auto shops

APN

1-022-056-276-416-1-05-12

APU

102205627641610512

Description

This Albuquerque, NM storefront presents a compelling net-lease investment opportunity. Located at 12830 Central Ave SE, 87123, this property boasts 2,414 square feet across two single-story buildings on a 0.64-acre lot. The property, built in 1967 and extensively renovated in 2021, features a new metal roof, iron fence, two entrance gates, updated bathrooms and kitchen, a new furnace and A/C, a heat pump in the shop area, and a washer/dryer. The interior of the main building showcases a tongue-and-groove ceiling. Currently 100% occupied with a credit-rated tenant under a 7-year NNN lease (commencing June 1, 2024, and expiring June 1, 2031), generating a substantial annual net operating income (NOI) of $62,400. The property is zoned C-2, offering flexibility for future uses. Ample parking is available, with 40 spaces per 1,000 square feet. The asking price is $795,000, representing a 7.85% cap rate and a price per square foot of $329.33. The land value alone is $30.81 per square foot. Owner financing options are available, with terms negotiable. Potential for trade or exchange for other real estate is also considered.

• CAP approach

  CAP return

  Valuation

  6%

  $512,815

  6.5%

  $473,368

  7%

  $439,556

• Comparable approach

  Method

  Valuation

  Relative Method

  $524,178

  Geo Method

  $502,601

• Alternative Use

  Use

  Valuation

  Residential

  $399,303

  Hospitality

  $365,760

  Educational

  $304,308

  Medical

  $314,773

  Retail

  $473,368

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0687

Longitude

-106.506

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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