6201 Montgomery Blvd Albuquerque, NM 87109

Property Details for 6201 Montgomery Blvd

Year built

2023

Lot size

0.31 lot acres

Property size

1,438 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents the fee simple ownership of a 1,438 square foot Take 5 Oil Change, located at 6201 Montgomery Blvd NE, Albuquerque, NM 87109. The property sits on a 0.31-acre lot and boasts a brand-new, 15-year absolute NNN lease with six 5-year renewal options. The tenant, a Take 5 Oil Change franchisee, is committed to the site, evidenced by the long-term lease agreement. This lease includes a significant 10% rent increase every five years, providing excellent protection against inflation and steadily growing net operating income (NOI). With zero landlord responsibilities, this is an ideal, management-free investment. The property benefits from its prime location at a signalized intersection of Montgomery Blvd NE and San Pedro Dr NE, experiencing high daily traffic volume exceeding 47,800 vehicles. Montgomery Blvd NE is a major retail artery in Albuquerque. The surrounding area is densely populated with strong retail presence, including nearby shopping centers anchored by T.J. Maxx, Ross, Walgreens, and Albertsons, along with other national retailers such as Walmart, Costco, and Target. The 5-mile trade area boasts a population exceeding 296,500 residents and 198,150 employees, with an average household income of $94,118. The property's NOI is $157,257, resulting in a 6.00% cap rate. Built in 2023, this property is zoned MX-L and offers a compelling investment opportunity with a current asking price of $2,621,000. The property's APN is 101806126402340101.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Longitude

-106.577

Latitude

35.1313