Single-Tenant Drug Store on Hard
For Sale
Contact for pricing
9500 GOLF COURSE RD NW, Albuquerque, NM 87114
Signalized hard-corner Walgreens location with high daily traffic on Golf Course Road and Paradise Boulevard.
Property Size15,034 SF
Price / SF$267.67
Days on Market19
Property Features for 9500 GOLF COURSE RD NW
General Information
Standard status
Active
Size
15,034 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$281,695
Site & Location
Traffic Count
45,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
2000
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Acropolis Commercial Advisors LLC
Listed By:
Eric Wasserman · License #FL CQ1057427
Source:
Crexi
Added: Jul 22
Changed: Aug 8
Last Checked: Aug 9 at 7:09AM
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 Acropolis Commercial Advisors LLC
Investment Insights
Based on property information with market context.
The property is a single-tenant Walgreens drug store situated on a hard corner at the signalized intersection of Golf Course Road NW and Paradise Boulevard NW. The location offers strong visibility and access from both roadways and is supported by a long-term absolute NNN lease, structured with zero landlord responsibilities. The lease includes a corporate guarantee, and Walgreen Co. has continuously operated at the property since 2002, with the first option period recently exercised.
Road traffic volumes on these commuter corridors are reported at over 23,000 vehicles daily on Golf Course Road NW and over 22,000 vehicles daily on Paradise Boulevard NW. The property is within 6 miles of interstates I-40 and I-25 via nearby SR 45 and SR 423 connections, and Downtown Albuquerque is within about 25 minutes.
The trade area is reinforced by proximity to regional healthcare and major employment. The property is approximately 1 mile from Lovelace Westside Hospital and about 3 miles from Presbyterian Rust Medical Center. It also benefits from a strong daytime workforce, including Intel’s Fab 9 and Fab 11x facilities that opened in 2024. Surrounding retail includes national and regional brands along Golf Course Road and SR 45.
Road traffic volumes on these commuter corridors are reported at over 23,000 vehicles daily on Golf Course Road NW and over 22,000 vehicles daily on Paradise Boulevard NW. The property is within 6 miles of interstates I-40 and I-25 via nearby SR 45 and SR 423 connections, and Downtown Albuquerque is within about 25 minutes.
The trade area is reinforced by proximity to regional healthcare and major employment. The property is approximately 1 mile from Lovelace Westside Hospital and about 3 miles from Presbyterian Rust Medical Center. It also benefits from a strong daytime workforce, including Intel’s Fab 9 and Fab 11x facilities that opened in 2024. Surrounding retail includes national and regional brands along Golf Course Road and SR 45.
Key Highlights
- Walgreens on an absolute NNN lease with zero landlord responsibilities and a corporate guarantee
- Hard corner at the signalized intersection of Golf Course Rd NW and Paradise Blvd NW with 45,000+ VPD reported
- Interstates I‑40 and I‑25 are within 6 miles (15 minutes); Downtown Albuquerque is within 25 minutes via highway connections
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,488
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,909,760
$2.9M
Cap Rate 7%
$2,078,400
$2.1M
Cap Rate 9%
$1,616,533
$1.6M
Market Conditions
NOI Build-Up for 15,034 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$207.5K $13.80/SF
− Vacancy
−$13.5K −$0.90/SF
EGI
$194.0K $12.90/SF
− OpEx
−$48.5K −$3.23/SF
NOI
$145.5K $9.68/SF
Area
ZIP 87114
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,909,760
Cap Rate 7%
$2,078,400
Cap Rate 9%
$1,616,533
Alternative Uses
Best Use
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,488 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$1.84M
$1.61M – $2.14M
NOI $128,496 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,608 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
45,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
82k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 41%
Leisure 3%
SONIC Drive In
Dining
18,916 visits/mo
0.0 miles
Smith's Fuel Center
Shops & Services
13,729 visits/mo
0.2 miles
Speedway
Shops & Services
13,459 visits/mo
0.1 miles
Blake's LotaBurger
Dining
12,158 visits/mo
0.5 miles
Taco Bell
Dining
7,409 visits/mo
0.5 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walmart Pharmacy — 8511 Golf Course Rd NW, Albuquerque, NM 87114
- Smith's Pharmacy — 8301 Golf Course Rd NW, Albuquerque, NM 87120
- Beast Fit — 8315 Wolverine Dr NW, Albuquerque, NM 87120
- James Garcia — 8301 Golf Course Rd NW, Albuquerque, NM 871205801
- Michael G. Garcia, RPH — 8301 Golf Course Rd NW, Albuquerque, NM 87120, United States
Frequently Asked Questions
What type of property is this?
Drug store - Signalized hard-corner Walgreens location with high daily traffic on Golf Course Road and Paradise Boulevard.
Where is this drug store located?
The property is located at 9500 GOLF COURSE RD NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $4,024,215.
What are key features of this property?
This property features: Walgreens on an absolute NNN lease with zero landlord responsibilities and a corporate guarantee; Hard corner at the signalized intersection of Golf Course Rd NW and Paradise Blvd NW with 45,000+ VPD reported; Interstates I‑40 and I‑25 are within 6 miles (15 minutes); Downtown Albuquerque is within 25 minutes via highway connections
