Current Use by Public Records
- Retail properties & Spaces
Property Details for 135 Us-550
- Lot size
- 1.38 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a single-tenant, absolute net-leased Applebee's Grill + Bar located in Bernalillo, New Mexico. The property boasts a 5,500 square foot building situated on a 1.377-acre lot, zoned C-1. The current lease with Applebee's, a nationally recognized brand, extends until December 31, 2036, offering a substantial remaining lease term of 12.1 years. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $102,300, resulting in an attractive 5.50% capitalization rate. The asking price is $1,860,000, translating to $338.18 per square foot. This prime location in Bernalillo offers high visibility and accessibility from major roadways, benefiting from significant foot and vehicle traffic due to its proximity to retail centers, entertainment venues, and residential areas. The lease includes 4-5 year renewal options and built-in rental escalations, ensuring a predictable and growing income stream for the investor. The well-maintained building minimizes immediate capital expenditure needs. Bernalillo's economic growth further enhances the property's long-term value and appreciation potential. This is a rare opportunity to acquire a stable, high-performing retail investment with a strong tenant and a long-term lease.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bernalillo
- County
- Sandoval
- State
- New Mexico
- Longitude
- -106.544
- Latitude
- 35.3178
