Harbor Freight Investment
For Sale
Contact for pricing
4410 Central Ave SW, Albuquerque, NM 87105
Nationally credited tenant with long-term lease in high-traffic retail location.
Property Size16,376 SF
Price / SF$152.79
Days on Market664
Property Features for 4410 Central Ave SW
General Information
Standard status
Active
Size
16,376 SF
Property subtype
Retail
Zoning
MX-M
Occupancy
100%
Lease Type
NN
Net Operating Income
$156,377
Building Details
Year Built
1970
Year Renovated
2019
Listing Agency:
Resolut RE Albuquerque
(505) 337-0777
Listed By:
Austin Tidwell · License #NM #49789 AB
Source:
Crexi
Added: Nov 6, 2024
Changed: Aug 8
Last Checked: Aug 3 at 2:57PM
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 Resolut RE Albuquerque
Investment Insights
Based on property information with market context.
Harbor Freight Tools, headquartered in Calabasas, California, is a leading national retailer specializing in affordable, high-quality tools and equipment. Founded in 1977, the company has expanded to over 1,300 stores across 48 states, serving millions of customers. Offering a wide range of products, including hand tools, power tools, automotive equipment, and more, Harbor Freight is known for providing substantial cost savings—often up to 80% lower than competitors—while maintaining reliable quality. Their customer base includes contractors, industrial users, and DIY enthusiasts. With reported annual revenues exceeding $7 billion, Harbor Freight has established itself as a financially strong and stable company. They have built a reputation for value and customer satisfaction, offering a lifetime warranty on hand tools and consistently updating their product lines to meet demand. For commercial real estate investors, Harbor Freight is a highly desirable tenant. The company typically signs long-term leases in high-traffic retail locations, generating consistent foot traffic and attracting complementary businesses. Harbor Freight’s financial stability and continued growth make them a low-risk, nationally credited tenant, ensuring reliable rental income for property owners. Their significant national footprint and successful business model enhance the long-term value of any commercial property investment. The property size is 16376 square feet.
Key Highlights
- Nationally credited tenant with over 1,300 stores and a significant national footprint.
- Financially strong and stable company with annual revenues exceeding $7 billion.
- Long‑term leases in high‑traffic retail locations, ensuring reliable rental income.
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
$157,332
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
6.29%
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%
$3,146,640
$3.1M
Cap Rate 7%
$2,247,600
$2.2M
Cap Rate 9%
$1,748,133
$1.7M
Market Conditions
NOI Build-Up for 16,376 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
$245.6K $15.00/SF
− Vacancy
−$20.9K −$1.28/SF
EGI
$224.8K $13.73/SF
− OpEx
−$67.4K −$4.12/SF
NOI
$157.3K $9.61/SF
Area
ZIP 87105
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,146,640
Cap Rate 7%
$2,247,600
Cap Rate 9%
$1,748,133
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,332 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,120 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
301k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 29%
Shops & Services 25%
Apparel 21%
Dining 17%
El Super
Groceries
85,977 visits/mo
0.2 miles
Five Below
Shops & Services
36,245 visits/mo
0.1 miles
Burlington
Apparel
32,259 visits/mo
0.2 miles
Ross Dress for Less
Apparel
32,027 visits/mo
0.1 miles
Dollar Tree
Shops & Services
15,503 visits/mo
0.2 miles
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Nationally credited tenant with long-term lease in high-traffic retail location.
Where is this retail space located?
The property is located at 4410 Central Ave SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,502,031.
What are key features of this property?
This property features: Nationally credited tenant with over 1,300 stores and a significant national footprint.; Financially strong and stable company with annual revenues exceeding $7 billion.; Long‑term leases in high‑traffic retail locations, ensuring reliable rental income.
