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    4665 Irving Blvd Albuquerque, NM 87114

    For Sale
    $3,292,800

    High-traffic, NNN-leased gym investment

    Property size:
    16,464 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fee-simple, 16,464-square-foot Planet Fitness in Albuquerque, New Mexico. Located at a signalized intersection with over 43,000 vehicles per day, this property boasts a strong location surrounded by major national retailers including Costco, Starbucks, Smith's Grocery, and Lovelace Hospital. The property sits on a 2.3-acre lot and includes over 70 parking spaces. Currently operating under a triple-net (NNN) lease with Planet Fitness, a leader in the fitness industry, the property offers significant investor advantages. The lease, with a current term ending December 31, 2028, includes a recent extension, demonstrating the tenant's long-term commitment. The tenant is Ignite Fitness Holdings, one of North America's largest Planet Fitness franchisees, adding further security. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $230,496, resulting in a 7.00% cap rate and a price per square foot of $200. The asking price is $3,292,800. Recent capital improvements, including a new roof installed in 2019, minimize immediate capital expenditure needs. This property offers a compelling combination of stable income, minimal management, and a high-quality tenant in a prime location, making it an ideal addition to any diversified portfolio. The property address is 4665 Irving Blvd NW, Albuquerque, NM 87114.

    Property Features for 4665 Irving Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    16,464 SF
    Lot Size
    100,188 SF

    HighLights

    • $3,292,800 asking price for a 16,464 square foot Planet Fitness.
    • Absolute NNN lease with a 7.00% cap rate and $230,496 NOI.
    • 100% occupancy with a $200 per square foot price.
    • 2.3‑acre lot located at 4665 Irving Blvd NW, Albuquerque, NM 87114.
    • Tenant, Planet Fitness, recently exercised a 5‑year lease option, with over 4 years remaining.
    • Operated by Ignite Fitness Holdings, a large Planet Fitness franchisee.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Planet Fitness Gym Albuquerque Kitchen Remodeler ... Bathroom Remodeler

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.67915006587
    Latitude
    35.200552811455

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    FAQs

    What type of property is this?
    Individual retail property - High-traffic, NNN-leased gym investment
    Where is this individual retail property located?
    The property is located at 4665 Irving Blvd Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $3,292,800.
    What are key features of this property?
    This property features: $3,292,800 asking price for a 16,464 square foot Planet Fitness.; Absolute NNN lease with a 7.00% cap rate and $230,496 NOI.; 100% occupancy with a $200 per square foot price.
    (505) 273-7169
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    4665 Irving Blvd Albuquerque, NM 87114
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4665 Irving Blvd Albuquerque, NM 87114
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