Property Details for 1001 Nm-528

Lot size

1.13 lot acres

Property size

14,213 SF

Property type

Retail properties & Spaces

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a single-tenant, net-leased CVS Pharmacy located at a high-traffic intersection in Rio Rancho, New Mexico. The 14,213 square foot building sits on a 1.13-acre lot at the highest trafficked intersection in Rio Rancho, boasting over 59,600 vehicles daily. This hard-corner, signalized location benefits from proximity to major retailers including Walmart Neighborhood Market, Smith's, Murphy Express, and Popeyes. The property features a long-term ground lease with options extending to 2050, mitigating risk and providing significant long-term value. The current lease with CVS Pharmacy has approximately 13 years remaining, offering consistent cash flow. The property's strong location, coupled with the investment-grade tenant and low rental rates, presents a compelling investment opportunity with a 6.25% cap rate and a Net Operating Income (NOI) of $94,424. The asking price is $1,511,000, translating to $106.31 per square foot. Rio Rancho, part of the Albuquerque MSA, is one of New Mexico's fastest-growing cities, further enhancing the property's long-term potential. This net lease structure minimizes management responsibilities, making it an ideal passive income investment. The combination of a strong tenant, favorable lease terms, and prime location makes this a highly attractive investment prospect.

Location Insight

City

Rio Rancho

County

Sandoval

State

New Mexico

Longitude

-106.657

Latitude

35.2407