Albuquerque, NM - East Gateway Plaza
$1,771,966
10221 Central Avenue NE, Albuquerque, NM 87123
6
Cap Rate
106,318
NOI
Details:
Description:
East Gateway Plaza is a rare, value-add opportunity with a 10-year corporate, NNN lease. Lobo Children’s Dentistry Guaranteed by Corporate Entity, Pediatric Dental Providers Operations, LLC. Lobo Dental rent increases 10% every 5 years, steadily growing NOI and hedging against inflation. Vacancy provides 100% upside to the Owner, as all costs and expenses have been removed from the Net Operating Income on the asset. Ease of management well suited for an out of town/state Investor
The City of Albuquerque is the largest city in New Mexico with a population of 569,685 as of July 1, 2021. The property is ideally situated on Central Avenue with an average daily traffic count of 28,600. It is just south of Interstate 40 with an average daily traffic count of 108,000+. It is located directly across Eubank Blvd from Home Depot and Costco, and just south of Towne Park Plaza, anchored by Walmart Supercenter, Sam’s Club and Ross Dress for Less. East Gateway Plaza is 2 miles north of Kirtland Air Force Base, a 51,558 acre U.S. Air Force base employing about 20,000 active duty military members, civilians, Guard and Reserve personnel.
Location
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