NNN Property with Goodwill
New
For Sale
$2,884,000
3401 Alameda Blvd NW, Albuquerque, NM 87114
The 1994-built Albuquerque asset includes fee-simple ownership of both the land and building.
Property Size11,286 SF
Days on Market2
Property Features for 3401 Alameda Blvd NW
General Information
Standard status
Active
Size
11,286 SF
Property subtype
Retail
Zoning
NR-BP
Site & Location
Neighborhood
Nbf
Additional Details
Tenant in Place
Yes
Building Details
Building Size
11,286 SF
Year Built
1994
Listing Agency:
SRS Real Estate Partners - Los Angeles
Listed By:
Steven Roberts
(303) 884-6659
Source:
Srsre
Added: Oct 23
Last Checked: Oct 23 at 5:53PM
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 SRS Real Estate Partners - Los Angeles
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Albuquerque property includes fee-simple ownership of the land and building and is occupied by Goodwill under a NNN lease. Constructed in 1994, the asset is zoned NR-BP.
The tenant has added five years to the lease. Contractual rent increases are 2.5% annually during the initial term and option periods, with minimal landlord responsibilities under the NNN structure.
The tenant has added five years to the lease. Contractual rent increases are 2.5% annually during the initial term and option periods, with minimal landlord responsibilities under the NNN structure.
Key Highlights
- Goodwill occupies the property under a NNN lease
- Lease extended by an additional 5 years
- Annual rent increases of 2.5% during the initial term and each option period
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,461
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,929,220
$1.9M
Cap Rate 7%
$1,378,014
$1.4M
Cap Rate 9%
$1,071,789
$1.1M
Market Conditions
NOI Build-Up for 11,286 SF
Gross rent
$149.0K $13.20/SF
− Vacancy
−$11.2K −$0.99/SF
EGI
$137.8K $12.21/SF
− OpEx
−$41.3K −$3.66/SF
NOI
$96.5K $8.55/SF
Area
ZIP 87114
Vacancy
7.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,929,220
Cap Rate 7%
$1,378,014
Cap Rate 9%
$1,071,789
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.61M
NOI $96,461 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,358 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
300
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
SUBWAY
Dining
300 visits/mo
0.2 miles
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Frequently Asked Questions
What type of property is this?
NNN property - The 1994-built Albuquerque asset includes fee-simple ownership of both the land and building.
Where is this nnn property located?
The property is located at 3401 Alameda Blvd NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,884,000.
What are key features of this property?
This property features: Goodwill occupies the property under a NNN lease; Lease extended by an additional 5 years; Annual rent increases of 2.5% during the initial term and each option period
