3840 Commons Ave NE

Additional Information

Weston Solutions
3840 Commons Ave NE
Albuquerque, NM

Offering Summary

Purchase Price: $972,000
Price per Square Foot: $120.75
Net Operating Income: $68,055
Cap Rate: 7.00%
Lease Type: Full Service

Investment Highlights

• Single-tenant office building leased to national company (Weston Solutions, Inc.)
• Low price point
  – Priced below replacement cost
  – Low lease rate
• About four years of lease term remaining through August 31, 2022*
• Building size: ±8,050 SF
• Land size: ±0.71 acres
• Strong, national tenant – Weston Solutions, Inc.
  – 22 offices located throughout multiple states
  – In business 61 years, founded in 1957
• Long-tenured tenant – committed to this location
  – Weston Solutions has operated at this location since 2006 and has exercised multiple renewal options
• Annual rent increases
• Premier location
  – Located in the coveted North I-25 Corridor
  – Convenient access to Interstate 25
  – Extremely high barriers to entry
• 87,000+ population within a 3-mile radius of the site
  $64,000+ average household income within a 3-mile radius of the site
  _{*Tenant has option to terminate lease 8/31/2020 and 8/31/2021 with six months written notice}