Albuquerque, NM - Take 5 Oil Change (Montgomery 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 brand 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 is located at the signalized, hard corner intersection of Montgomery Blvd NE and San Pedro Dr NE which combine to average over 47,800 vehicles passing by daily. Montgomery Blvd NE, is the major retail thoroughfare serving the city of Albuquerque. The Take 5 is less than a mile from Montgomery Plaza, a T.J. Maxx and Ross anchored center featuring other national/credit tenants such as Walgreens, Chick-fil-A, Firehouse Subs, Burlington, Jimmy John’s, and Verizon. The asset is in close proximity to an Albertsons grocery anchored center with other national/credit tenants including Starbucks, Raising Cane’s, Chipotle, Del Taco, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Costco, Sam’s Club, The Home Depot, REI, PetSmart, Topgolf, Target, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 296,500 residents and 198,150 employees with an average household income of $94,118.