Single Tenant Office Investment
$795,000
21 Main Street, Edgewood, NM 87015
7.8
Cap Rate
61,658
NOI
Details:
Highlights:
- .36 acre paved parking lot
- .5 acre secured, gated yard with remote entry
- Functional office floor plan
- Solar panels
- New paint & carpet
- Parking lot resurfaced in 2016
- Quick I-40 & Route 66 access
Description:
PROPERTY OVERVIEW
Single Tenant investment opportunity guaranteed by the Town of Edgewood. The 5-year lease, executed October 2024, provides 3% annual rent escalations throughout the initial term and the two 5-year extension options. The tenant is responsible for all interior and exterior repairs and maintenance leaving the landlord responsible for only property taxes, insurance, and maintenance/repairs to roof. The current lease rate of $14.00 PSF is a very replaceable rent in this market considering the lack of available office space in the immediate and surrounding area.
LOCATION OVERVIEW
Located right in the center activity in Edgewood, NM. Easy access to I-40, south of Walmart and north of great restaurant, retail, banking, and pharmacy services. Edgewood, as a city, reaches the entire east mountains and allows office/industrial business to service Tijeras, Cedar Crest, Moriarty, Santa Rosa, and more.
Documents:
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Location
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