6020 Midway Park NE Blvd Albuquerque, NM 87109-5843

Property Details for 6020 Midway Park NE Blvd

Year built

1996

Lot size

1.44 lot acres

Property size

12,064 SF

Property type

Warehouses

APN

1-017-062-038-196-3-03-06

APU

101706203819630306

Description

This exceptional NNN investment opportunity presents a 12,083-square-foot multi-tenant warehouse located at 6020 Midway Park Boulevard NE in Albuquerque, New Mexico. Boasting 100% occupancy and a strong net operating income (NOI) of $151,804.23, this property offers a compelling 6.35% capitalization rate. Situated on a 1.44-acre lot within the desirable N-I25 submarket of Bernalillo County, the property benefits from its strategic location, proximity to affluent communities, and high safety rating compared to the broader Albuquerque metro area. The warehouse features modern facilities, including a recently resurfaced and striped parking lot, well-maintained roof, and HVAC system. Currently, rental rates average $12.42 per square foot, with significant upside potential of approximately 20% if all rents are increased to market rates of $14.00 per square foot. The multi-tenant structure provides diversified revenue streams, and the high demand for industrial space in Albuquerque ensures long-term occupancy. The property is zoned NR-BP. This investment is ideal for those seeking a stable, high-performing asset in a thriving market. The property's location within the N-I25 corridor, a market leader for occupancy and rental rates in New Mexico, further enhances its investment appeal. The current occupancy rate within this submarket and the owner-occupied warehouse (OWH) category exceeds 97%.