Walgreens Triple-Net Retail
10300 Central Ave SE, Albuquerque, NM 87123
For Sale
Contact for pricing
Absolute NNN income from Walgreens Corporation runs through March 31, 2031.
Property Size16,576 SF
Price / SF$289.58
Days on Market649
Property Features for 10300 Central Ave SE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Listing Agency:
Antonoff & Co. Brokerage Inc.
(303) 623-0200
Listed By:
Jeffrey Hirschfeld · License NM ER.001314346
(303) 454-5425
Source:
Moodyscre
Added: Jan 31, 2025
Changed: Nov 6
Last Checked: Nov 8 at 6:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Antonoff & Co. Brokerage Inc.
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Investment Insights
Based on property information with market context.
This Walgreens retail property is offered on an absolute triple-net (NNN) basis, with income from Walgreens Corporation in place through March 31, 2031. The owner also states the property may be leased “as-is” with a negotiated tenant finish allowance, or the building may be sold or redeveloped; the owner will consider a build-to-suit option and subdividing the building for multiple new tenants.
The site is located at 10300 Central Ave SE in Albuquerque, on Central Avenue, a major east-west thoroughfare. The property is listed as less than one mile from the I-40 freeway, and it is described as adjacent to multiple national and regional tenants including Starbucks and several QSR and retail users. Additional nearby context cited in the remarks includes Costco and Home Depot within one block, as well as other big box retailers in the surrounding area.
According to the provided remarks, the area supports a large trade footprint with over 226,000 residents in a 5-mile trade area and over 60,843 daytime employees within a 3-mile radius, along with nearby attractions and employment centers referenced by the seller.
The site is located at 10300 Central Ave SE in Albuquerque, on Central Avenue, a major east-west thoroughfare. The property is listed as less than one mile from the I-40 freeway, and it is described as adjacent to multiple national and regional tenants including Starbucks and several QSR and retail users. Additional nearby context cited in the remarks includes Costco and Home Depot within one block, as well as other big box retailers in the surrounding area.
According to the provided remarks, the area supports a large trade footprint with over 226,000 residents in a 5-mile trade area and over 60,843 daytime employees within a 3-mile radius, along with nearby attractions and employment centers referenced by the seller.
Key Highlights
- Absolute triple‑net (NNN) income from Walgreens Corporation through March 31, 2031
- Less than 1 mile from I‑40 freeway (approx. 68,000–74,000 vehicles per day per NMDOT)
- In Albuquerque infill area with a growing 5‑mile trade area of 226,000 residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$280,466
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,609,320
$5.6M
Cap Rate 7%
$4,006,657
$4.0M
Cap Rate 9%
$3,116,289
$3.1M
Market Conditions
NOI Build-Up for 16,576 SF
Gross rent
$397.8K $24.00/SF
− Vacancy
−$23.9K −$1.44/SF
EGI
$374.0K $22.56/SF
− OpEx
−$93.5K −$5.64/SF
NOI
$280.5K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,609,320
Cap Rate 7%
$4,006,657
Cap Rate 9%
$3,116,289
Alternative Uses
Best Use
Specialty Retail
$4.01M
$3.51M – $4.67M
NOI $280,466 @ 7.0% cap · market cap 5.84%
Second Best
Retail
$3.40M
$2.98M – $3.97M
NOI $238,272 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,705 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 37%
Electronics 6%
Circle K
Shops & Services
21,711 visits/mo
0.5 miles
Burger King
Dining
13,734 visits/mo
0.4 miles
AutoZone
Shops & Services
7,021 visits/mo
0.5 miles
Little Caesars Pizza
Dining
5,151 visits/mo
0.4 miles
AT&T
Electronics
2,954 visits/mo
0.5 miles
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for NNN properties in Albuquerque
Vacancy Rate% for Retail in Albuquerque, NM
Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN income from Walgreens Corporation runs through March 31, 2031.
Where is this nnn property located?
The property is located at 10300 Central Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Absolute triple‑net (NNN) income from Walgreens Corporation through March 31, 2031; Less than 1 mile from I‑40 freeway (approx. 68,000–74,000 vehicles per day per NMDOT); In Albuquerque infill area with a growing 5‑mile trade area of 226,000 residents
