Absolute NNN, single tenant leased retail property with an Internet resistant tenant for sale to a buyer. The market is stable, proven for the use and experiencing growth. The tenant, Thrift Town, is a 48-year-old brand thrift store operation with a proven track record. This value add opportunity presents a unique acquisition with stable cash flow and the opportunity to meet the market for improved returns at lease expiration. Terms must accommodate 1031 seller's exchange.
| Property Type | Retail |
|---|---|
| Zoning | MX-M |
| Listing ID | JLMP5W |
| Style | Retail – Free Standing |
| Building Size | 29,472 SF |
| Lot Size | 2.08 AC |
Area Description: Albuquerque's unemployment has dropped and boasts one of the lowest vacancy rates in the county. There is approximately 8.6 million square feet of free-standing retail in the Albuquerque market which has a vacancy of less than 4%. Menaul Blvd, being a major East West arterial near I-25 has the benefit of great visibility and easy access to the larger Albuquerque market. The property is also near the new Super Walmart a few blocks away on Carlisle Blvd NE. This market has been experiencing steady population growth since 2010. The nature of the community in which the property is located is ideal for its current tenancy.
