3000 Pepsi Way Aztec, NM 87410-2389
- Distribution centers
- 38,308 SF
- 6.89 lot acres
Oct 22, 2024
Current Use by Public Records
- Distribution centers
Property Details for 3000 Pepsi Way
- Year built
- 2008
- Lot size
- 6.89 lot acres
- Property size
- 38,308 SF
- Property type
- Distribution centers
- APN
- 2064177480132
- APU
- 2064177480132
Description
This exceptional investment opportunity presents a 38,308-square-foot distribution warehouse currently leased to FedEx Ground, a highly rated investment-grade tenant. Located in Aztec, New Mexico's Dillon Industrial Park, this property boasts a strong remaining lease term of 5.4 years, expiring March 31, 2030, with a built-in 7.13% rent increase at the next option. The property sits on a 7.78-acre lot and offers excellent access to US Route 550, serving as a strategic location within the Four Corners region, a commercial hub encompassing parts of New Mexico, Colorado, Utah, and Arizona. The property benefits from robust local demographics, including an average household income within a 10-mile radius of $80,783 and an average home value of $252,881. The surrounding area includes established businesses such as Pepsi Bottling Group, Comfort Inn & Suites, and others, indicating a thriving commercial environment. The property's strong financial performance is reflected in its current NOI of $422,117 and a 6.75% cap rate. The lease commenced March 12, 2008, and FedEx has demonstrated significant investment in the location by exercising an expansion option. This net lease investment offers a compelling combination of a secure tenant, a desirable location, and attractive financial returns. The property is conveniently located near the Aztec Municipal Airport and downtown Aztec.
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
- Aztec
- County
- San Juan
- State
- New Mexico
- Longitude
- -108.004
- Latitude
- 36.8087
- CBSA code
- 22140
- CBSA name
- FARMINGTON, NM METROPOLITAN STATISTICAL AREA
