Albuquerque, NM - Take 5 Oil Change (Menaul Blvd)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Take 5 Oil Change investment property located in Albuquerque, New Mexico. The tenant, Take 5 Oil Change, will sign a new, 15-year lease at the close of escrow (sale-leaseback) with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Take 5 Oil Change is located near the signalized, hard corner intersection of San Mateo Blvd and Menaul Blvd NE which combine to average over 81,900 vehicles passing by daily. Menaul Blvd NE, is a major retail thoroughfare serving the city of Albuquerque. The Take 5 is located in close proximity to Coronado Center, a 845,600+ SF shopping center featuring national/credit tenants such as DICK’S Sporting Goods, JCPenney, H&M, Panera Bread, LongHorn Steakhouse, and many others. The asset is near the Pavilions at San Mateo, a Walmart Neighborhood Market anchored centered featuring national/credit tenants including Dollar Tree, Old Navy, Sherwin-Williams, and Einstein Bros. Bagels. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Whole Foods, Target, McDonald’s, Taco Bell, Chipotle, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 304,600 residents and 242,300 employees with an average household income of $84,410.