4010 Montgomery BlvdAlbuquerque, NM 87109

Property Details for 4010 Montgomery Blvd

Year built

2007

Lot size

1.29 AC

Property size (Sq ft)

11,604 SF

Property type

Medical offices

Property subtype

Medical centers

APN

1-017-060-180-509-2-15-21

APU

101706018050921521

Description

This exceptional Class A medical office building, located at 4010 Montgomery Blvd NE in Albuquerque, New Mexico, presents a compelling investment opportunity. The 11,700 square foot single-story building sits on a 1.29-acre lot and is fully occupied by Optum Healthcare under a Net Lease (NNN) agreement. Built in 2007, the property boasts a strong 7-year remaining lease term extending to November 2030, providing a stable and predictable income stream. The lease includes annual rent increases of approximately 2.5%. The property's financial performance is robust, with a projected 2024 Gross Rent of $305,794 and a Net Operating Income (NOI) estimated at $272,004.33, resulting in an attractive 5.91% capitalization rate. The property is zoned MX-T and offers a fee simple ownership structure. This is a rare opportunity to acquire a high-quality, fully occupied medical office building in a desirable Albuquerque location with a long-term, creditworthy tenant. The property's single-tenant occupancy minimizes management complexities and provides a secure investment with significant upside potential. The asking price for this exceptional asset is $4,600,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,661,958

  6.5%

  $1,534,115

  7%

  $1,424,535

• Comparable approach

  Method

  Valuation

  Relative Method

  $988,191

  Geo Method

  $958,722

• Alternative Use

  Use

  Valuation

  Residential

  $1,902,302

  Hospitality

  $1,742,498

  Educational

  $1,449,738

  Medical

  $1,499,597

  Retail

  $2,255,148

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.1305

Longitude

-106.598

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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