9620 Eagle Rnch NW Rd Albuquerque, NM 87114-1567

Property Details for 9620 Eagle Rnch NW Rd

Year built

2005

Lot size

1.40 lot acres

Property size

7,915 SF

Property type

Auto shops

APN

1-013-065-333-004-4-03-45

APU

101306533300440345

Description

This exceptional investment opportunity presents a 2023-built, 3,700 square foot Circle K convenience store and gas station situated on a 1.57-acre lot in Albuquerque, New Mexico. The property boasts a 15-year absolute NNN ground lease with a corporate guarantee from Circle K, a tenant with an investment-grade credit rating of BBB+. The lease includes eight 5-year renewal options and features an 8% rent increase every five years during the primary term and options. The property is strategically located at the signalized intersection of Eagle Ranch Road (17,200+ vehicles per day) and Irving Boulevard (19,100+ vehicles per day), less than a mile from Cottonwood Mall, New Mexico's second-largest mall. The large-format store includes 14 fueling positions. The current Net Operating Income (NOI) is $98,500, resulting in a 5.25% cap rate. The asking price is $1,876,500, representing a price per square foot of $507.16. This below-replacement-cost property offers a secure, high-yield investment with significant long-term growth potential. The lease commenced January 1, 2024, and expires January 1, 2039, leaving a substantial remaining lease term of approximately 14.1 years. This is a truly exceptional opportunity for a savvy investor seeking a stable, high-return investment in a prime Albuquerque location.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Longitude

-106.663

Latitude

35.1891

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments