NNN Multi-Tenant Industrial Invesment
$2,390,617
6020 Midway Park Boulevard Northeast, Albuquerque, NM 87109
6.35
Cap Rate
151,804.23
NOI
Details:
Description:
6020 Midway Park is a Multi-Tenant OWH investment in Albuquerque’s N-I25 Corridor. This property presents an exceptional NNN investment opportunity with existing stable cash-flow with upside potential. The multi-tenant setup allows for diversified revenue streams, and the high demand for industrial space in Albuquerque ensures long-term occupancy. Rental rates average $12.42 PSF providing significant upside of 20% if when all rents are brought to market rents of $14.00 PSF. The strategic location, modern facilities, and ideal unit size make it an attractive option for a wide range of small businesses. The parking lot has recently been resurfaced and striped, roof and HVAC well maintained.
This property is located in the N-I25 submarket that is a market leader for occupancy and rental rates in New Mexico. Occupancy rates within this submarket, and within the OWH category, are over 97%. This submarket is so desirable due to its centralized location within the metro, its proximity to high income communities, and its relative safety compared to the res of the ABQ MSA.
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Location
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