Albuquerque, NM - Goodwill

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Goodwill investment property located in Albuquerque, New Mexico. The tenant, Goodwill, recently extended its lease an additional 5 years, demonstrating their commitment to the site. The lease features 2.5% annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor.

The Goodwill is located near the signalized, hard corner intersection of Alameda Blvd NW and Coors Rd, which combine to average 125,600 VPD. Coors Rd is a major retail thoroughfare serving the city of Albuquerque. The Goodwill is an outparcel to a At Home and Savers anchored center that also features national/credit tenants including Whataburger, Jack in the Box, and Jiffy Lube. In addition, the asset is located across from Project 528, a Lowe’s anchored center with other national/credit tenants such as Chipotle, Starbucks, Five Guys, and Jason’s Deli. The subject property is less than 1 mile from Cottonwood Mall, which includes tenants such as Dillard’s, JCPenney, Hobby Lobby, Boot Barn, Texas Roadhouse, Chili’s, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Sam’s Club, DICK’S, Kohl’s, Chick-fil-A, McDonald’s, Dutch Bros, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 173,900 residents and 89,000 employees with an average household income of $114,700.

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