4410 Central Ave Albuquerque, NM 87105
- Outlet malls
- 15,680 SF
- 1.27 lot acres
Current Use by Public Records
- Harbor Freight Tools / Tool Store / Hardware Store
- American Wildlife Taxidermy / Taxidermist
- Bank of America ATM (Drive-thru) / Atm
Property Details for 4410 Central Ave
- Year built
- 1975
- Lot size
- 1.27 lot acres
- Property size
- 15,680 SF
- Property type
- Outlet malls
- APN
- 1-012-057-141-419-2-07-87
- APU
- 101205714141920787
Description
This exceptional investment opportunity presents a 16,376 square-foot freestanding retail building, fully occupied by Harbor Freight Tools, located at 4410 Central Ave SW, Albuquerque, NM 87105. The property sits on a 2.64-acre lot and boasts a prominent pylon sign, ensuring high visibility in a bustling retail corridor. The building underwent a complete renovation in 2019. The current lease, a Net Net (NN) structure with a corporate guarantee from Harbor Freight, commenced June 9, 2016, and extends until April 29, 2030, with four 5-year renewal options. The lease features a below-market rent of $11 per square foot, with a 5% annual increase cap. The property generates a strong net operating income (NOI) of $156,376.96, resulting in an attractive 6.25% capitalization rate. The asking price is $2,502,031. The property is zoned MX-M and benefits from a high-traffic location with national co-tenancy including Burlington, Ross Dress for Less, Conn's, Home Plus, Five Below, and Starbucks. Additional on-site amenities include an ATM. Owner financing is available. This is a rare opportunity to acquire a stable, high-performing retail asset anchored by a financially sound national tenant.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Bernalillo
- State
- New Mexico
- Longitude
- -106.688
- Latitude
- 35.0844
- CBSA code
- 10740
- CBSA name
- ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA
