8011 Harper Rd NE

Albuquerque, NM 87111 | 1.2 Acres / 13,975 SF | Investment Property For Sale

$3,925,000.00


Walgreens Net-Leased Investment | Long-Term Early Lease Extension

Investment Property For Sale

Price $3,925,000.00
Size 1.2 Acres / 13,975 SF

Additional Information

Walgreens Net-Leased Investment
8011 Harper Rd NE
Long-term early lease extension

 

Offering Summary

Purchase Price: $3,925,000
Price per SF: $280.86
Net Operating Income: $223,600
Cap Rate: 5.70%
Lease Type: NN*
* New roof in 2017 and resurfaced parking in 2018

 

Investment Highlights

  • Building Size: +/- 13,975 SF
  • Land Size: +/- 1.24 acres
  • Long-term early lease extension
  • 11 years of lease term remaining through May 31, 2029 with five (5) 5-year renewal options
  • Strong store sales (inquire with broker)
  • Long operating history at property – Walgreens has operated at this location since 1994
  • New roof in 2017 and resurfaced parking in 2018
  • Strategically located at the intersection of Wyoming Blvd and Harper Rd with over 52,200 cars per day
  • Neighboring tenants include McDonald’s, Sports and Wellness, Circle K, Subway, and Albertsons, among others
  • Exceptional, dense, in-fill location with strong demographics
    • 102,500+ population within a 3-mile radius of site
    • $78,000+ average household income within a 3-mile radius of site
  • Limited competition – Nearest CVS is 3.8 miles away; nearest Walgreens is 2.1 miles away
  • High barrier to entry for new or relocated drug store
    • In-fill location across the street from long-term, nationally recognized, private education institution (Albuquerque Academy)

Location

Cole Flanagan, CPA, MBA

Partner
505.338.4107

Jake Mechenbier

Senior Advisor
505.338.4186

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