Own 2 Suites—Let The Tenant Pay Your Mortgage

Highlights:

• Two adjoining, fully renovated office/warehouse condominiums offered as a package sale
• 6,086 SF total—two 3,043 SF suites
• Each suite includes 2,236 SF of two-level office space and an 807 SF warehouse
• 1,614 SF of combined warehouse space
• Suite E: Leased to an in-place NNN tenant
• Suite F: Vacant and move-in ready
• 7.56% pro forma cap rate with Suite F leased at $13.50/SF NNN
• Suite E’s rent covers approximately 56% of the illustrated principal-and-interest payment
• 18-foot warehouse ceilings with a 10' x 12' drive-in door in each suite
• 3-phase, 480V, 400-amp power in each suite
• 904 SF gated and paved yard per suite
• Built in 2002 and fully renovated inside and out
• Flexible NR-BP zoning
• Less than one mile from Paseo del Norte and I-25

Description:

Rare owner-user or investment opportunity in Albuquerque’s desirable North I-25 corridor. The offering includes two adjoining, fully renovated office/warehouse condominiums totaling 6,086 SF. Each 3,043 SF suite features 2,236 SF of two-level office space, an 807 SF warehouse, an 18-foot ceiling, a 10' x 12' drive-in door, and 3-phase, 480V, 400-amp power.

Suite E is occupied by an established NNN tenant, while Suite F is vacant and move-in ready. An owner-user can occupy Suite F and use Suite E’s rental income to offset approximately 56% of the illustrated principal-and-interest payment. Leasing Suite F could produce a 7.56% pro forma capitalization rate.

Each suite includes private offices, open work areas, a break room, restroom, climate control, and a 904 SF gated and paved yard. Located less than one mile from Paseo del Norte and I-25, the property offers NR-BP zoning, ample shared parking, monument signage, and convenient access throughout Albuquerque.

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