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2-Tenant Big 5 Pad Bldg / NNN Investment

$2,709,000

3140 Coors Blvd NW, Albuquerque, NM 87120

Active
Last Updated: 08/10/2026

7.5

Cap Rate

203,140

NOI

Details:
Cap Rate:    7.5%
NOI:    $203,140
Building Size:    11,722 sqft
Lot Area:    1.1256 acres
Occupancy:    100%
Class:    C
Units:    2
Year Built:    2003
Highlights:
  • Corporate executed lease, established western US retailer (Big 5 operates approx. 414 stores across 11 Western states.
  • Fee simple ownership, land & building
  • Low cost PSF investment with high yield /$228 PSF is below replacement cost / 7.5% Return
  • 2 tenant NNN leased investment 100% leased / Ease of Management
  • High visibility Coors Blvd. Major Retail Thoroughfare / 50,200 VPD
  • Major national retailers/high performing retail trade area ( Nearby Home Depot ranks as the No. 1 most visited Home Depot in New Mexico)
Description:

New Mexico Broker of Record: Pegasus Group LLC / License No.: 2023-0376

Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in a 100% leased, two-tenant neighborhood retail investment anchored by Big 5 Sporting Goods and Honey Supply Smoke Shop in Albuquerque, New Mexico. The 11,869-square-foot property is offered at $2,709,000, representing an attractive high-yield 7.50% cap rate on in-place NOI of $203,140. Big 5 Sporting Goods has successfully operated at the property since 2004, demonstrating more than 21 years of historical occupancy, while Honey Supply has occupied the property since 2021 and is committed through July 2029. Big 5, a recognized Western U.S. sporting goods retailer with approximately 414 locations across 11 states, employs more than 7,600 people.

The investment provides durable rental income through net lease structures under which both tenants reimburse their proportionate share of property taxes, insurance, and CAM expenses, while also maintaining their respective HVAC systems and interior premises. Big 5 is committed through March 2030 with one remaining five-year renewal option at an increased monthly rent of $16,167. Honey Supply’s lease includes scheduled rent increases in August 2027 and August 2028. This structure minimizes day-to-day ownership obligations. The investment is offered at $228 PSF which is below replacement cost.

Strategically located on Coors Boulevard NW, a major Albuquerque retail corridor carrying approximately 50,200 vehicles per day, the property benefits from two access points and excellent visibility in an established West Albuquerque trade area. The surrounding retail environment is supported by high-performing national retailers, including a nearby Walmart Supercenter that ranks as the No. 10 most visited Walmart in New Mexico out of 36 locations statewide (Source: Placer.AI), and a Home Depot that ranks No. 1 in visits among New Mexico’s 13 Home Depot locations (Source: Placer.AI). More than 116,000 residents, 54,000 households, and 113,000 employees are located within three miles of the property, where average household income exceeds $84,000 (Source: Placer.ai). With fee simple ownership of the land and improvements, strong access and traffic counts, and population and household growth projected within the surrounding trade area, the offering provides investors with a well-located, income-generating retail asset backed by established tenancy and long-term real estate fundamentals.

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