Upload
others
View
3
Download
0
Embed Size (px)
Citation preview
Features:
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Sale Price: $520,000 ($100.00/SF)
Cap Rate: 7.57%
Est. 2018 NOI: $39,367.52
Rita Cordova 505-489-8538
8.80% Estimated Cash on Cash
Close Proximity to Court Houses
On Site Parking
Highly Visible from Lomas Blvd
Strong Upside Potential
Courtyard and Balcony
Excellent Accessibility
MX-L Zoning
Building Size: +/- 5,200 SF
Land Size: +/- 0.2456 acres
Property Overview
Absolute Investment Realty has been selected as the exclusive representative of
the owner of 1412 Lomas Blvd SW. This property is a fantastic +/-5,200 SF multi-
tenant office building on 0.25 acres and is an ideal owner-user and/or investment
opportunity. The property can be purchased with current tenants in place, or can
be owner occupied.
The Building features includes 11 offices, 4 bathrooms, break room, conference
room, 2 open work areas, a balcony and courtyard. The Property is conveniently
located between Old Town and Down Town making it ideal for an attorney’s office.
The trade area is one of Albuquerque’s densest trade areas with approximately
253,000 people living within a 5 mile radius which makes it an ideal attorney
office. The property has excellent visibility and is one of. Access to the property is
convenient with easy ingress and egress to Lomas Avenue. The property has an
ample 20 parking stalls. Zoning is MX-L, Mixed-Use, Low Intensity which allows for
a wide variety of commercial uses.
Property Summary
Disclaimer: The information contained in this marketing package is believed to be reliable. Whilewe do not doubt the accuracy, we have not verified it and make no guarantee, warranty orrepresentation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Additionally, this package and the information contained herein is intended onlyfor parties with a bonified interest in the lease or purchase of this property and should not bedistributed otherwise.
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Property Address: 1412 Lomas Blvd NW, Albuquerque NM 87104
Property Description: 2-Story Multi-Tenant Office Building
Property Size: (+/-) 0.2456 Acres
Building Size: (+/-) 5200 SF
Use: Multi-Tenant Attorney Offices
Zoning: MX-L
Access: Full-turn access on Lomas
Visibility: Excellent
Trade Area: Down Town / Old Town
Number of Tenants: 8
Total Leasable Offices: 11
Leaseable Open Workspace Desks 2
Estimated 2018 NOI: $39,368
Cap Rate: 7.57%
Pro Forma Cap Rate: 16.22%
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Trade Area Map
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
SITE
University of New Mexico
Trade Area Demographics
Radius 1 Mile 3 Mile 5 Mile
Population (2018 Estimate) 11,117 95,011 253,118
Avg HH Income (2018 est) $61,742 $57,290 $61,440
Historic Old Town
Down TownAlbuquerque
Country Club
Albuquerque
Bio Park &
Aquarium
Rio Grande Zoo
EDO
SITE
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Site Close Up & Location Description
Property and Location DescriptionThis property is located 2 blocks from historic Old Town and just west of Down Town trade area of Albuquerque, New Mexico, near Albuquerque’s most famousattractions including the Albuquerque Aquarium and Bio Park, Tingly Beach, the Albuquerque Museum, Natural History Museum, and Explora children's museum.
The Property is at the intersection of Lomas and 15th Street just east of Rio Grande Blvd which is a gateway to old town and adjacent to down town with quick accessto both 1-25 and 1-40. This space would make a beautiful office setting with open work space and conference area.
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
SITE
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Reception/Waiting Area
Conference Room
Office Space
Pictures
11 offices and 4 bathrooms
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Leases and Financial SummaryFinancial Highlights
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Disclaimer: The information contained in this marketing package is believed to be reliable.While we do not doubt the accuracy, we have not verified it and make no guarantee,warranty or representation about it. It is your responsibility to independently confirm itsaccuracy and completeness. Additionally, this package and the information containedherein is intended only for parties with a bonified interest in the lease or purchase of thisproperty and should not be distributed otherwise.
Lease Summary
Number of Tenants / Potential Tenants: 8 / 11
Lease Types: Full Service Executive Offices
Lease Term: Month to Month
Tenant Occupations: Attorneys
Additional Services Provided: Reception, Printing & Copying
Access to Conference Room: Yes
Current Financial Summary
Occupancy Rate: 61.54%
Estimated 2018 Gross Income: $64,800
Estimated 2018 Expenses: $25,432
Estimated 2018 NOI: $39,368
Cap Rate: 7.57%
Est. Cash on Cash: 8.80%
Pro-Forma Financial Summary
Market Rate Income (100% Leased): $109,800
Expenses: $25,432
Potential NOI: $84,368
Potential Cap Rate: 16.22%
Potential Cash on Cash Return: 43.22%
Entry Lobby
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Rent Roll with Income & Expense Summary
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Income1st Floor Current Rent Market Rent
Suite Tenant Use Monthly Annually Monthly AnnuallyA Ben Wilson Attorney $650.00 $7,800.00 $700.00 $8,400.00B Gilbert Juarez Attorney $500.00 $6,000.00 $700.00 $8,400.00C Josh Sims Attorney $500.00 $6,000.00 $600.00 $7,200.00D Vacant $0.00 $0.00 $600.00 $7,200.00E Vacant $0.00 $0.00 $600.00 $7,200.00
1st Floor $1,650.00 $19,800.00 $3,200.00 $38,400.00
2nd Floor Current Rent Market RentSuite Tenant Monthly Annually Monthly Annually
1 Tim Padilla Attorney $1,800.00 $21,600.00 $1,800.00 $21,600.002 Pilar Murray Attorney $500.00 $6,000.00 $750.00 $9,000.003 Vacant $0.00 $0.00 $700.00 $8,400.004 Leon Encenias Attorney $550.00 $6,600.00 $700.00 $8,400.005 Vacant $0.00 $0.00 $750.00 $9,000.006 Charles Knoblauch Attorney $650.00 $7,800.00 $750.00 $9,000.00
7 - Open Work Space Bill Cooley Attorney $250.00 $3,000.00 $250.00 $3,000.008 - Open Work Space Vacant $0.00 $0.00 $250.00 $3,000.00
2nd Foor $3,750.00 $45,000.00 $5,950.00 $71,400.00
Total Income $5,400.00 $64,800.00 $9,150.00 $109,800.00
Expenses 2018 Estimated Pro-FormaReceptionist $1,400.00 $16,800.00 $1,400.00 $16,800.00Property Taxes $364.43 $4,373.20 $364.43 $4,373.20Insurance $218.00 $2,616.00 $218.00 $2,616.00Cleaning $250.00 $3,000.00 $250.00 $3,000.00Maintenance & Repairs $225.00 $2,700.00 $391.67 $4,700.00PNM $445.52 $5,346.24 $445.52 $5,346.24NM Gas $120.46 $1,445.52 $120.46 $1,445.52ABCWUA $132.07 $1,584.84 $132.07 $1,584.84Comcast $321.09 $3,853.08 $321.09 $3,853.08MTA Pest Control $42.80 $513.60 $42.80 $513.60
Total Monthly Expenses $2,119.37 $25,432.48 $2,119.37 $25,432.48
NOI $39,367.52 $84,367.52
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Floorplans
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
1st Floor• 5 offices• 1 breakroom • 2 bathrooms • 1 conference room• Lobby and reception
area• Storage space
Suite Tenant
A Ben Wilson
B Gilbert Juarez
C Josh Sims
D Vacant
E Vacant
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Floorplans
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
2nd Floor Features• 6 offices, 1 with
patio balcony• 2 open work area • 2 bathrooms, 1 with
shower.
Suite Tenant
1 Tim Padilla
2 Pilar
3 Vacant
4 Leon Encenias
5 Vacant
6 Charles Knoblauch
7 Bill Cooley
8 Vacant
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Demographics
Businesses – 1 Mile
Consumer Spending – 1 Mile
Daytime Employees – 1 Mile
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Albuquerque, NM MSAAlbuquerque is located in the Rio Grande Valley, and is shadowed by the majesticSandia Mountains. With a population of approximately 900,000 people, the metro areahas a projected growth rate of 7.2% over the next 2.5 years. Rio Rancho, a suburb ofAlbuquerque with a population of 89,900, has experienced explosive growth of over65% from 2000–2010, is the fastest growing city in New Mexico, and one of the fastestgrowing cities in the United States.
Albuquerque is home to the University of New Mexico (UNM) and the University ofNew Mexico Hospital (UNMH) which together employ 20,210 people. Kirtland Air ForceBase and Sandia National employ a high-tech, educated work force of about 23,000people. Lying at the center of the New Mexico Technology Corridor, Albuquerque isranked as one of Forbes Best Cities for Business, for its concentration of high-techprivate companies and government institutions along the Rio Grande river valley. Somekey technology based employers include Sandia National Laboratories, Intel, Raytheonand Northrup Grumman. Albuquerque is a regional center for transportation, healthcare, government agencies, nuclear research, and tourism.
Albuquerque is host to the world famous Albuquerque International Balloon Fiestawhich draws over 1,000,000 visitors per year. Less than one hour away is the HistoricalCity of Santa Fe, which has year round outdoor activities and routinely receives awardsfor quality of life and low cost of living.
SITE
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Absolute Investment RealtyWho We AreAbsolute Investment Realty is an investment oriented commercial realestate brokerage firm focused on helping our clients meet theircommercial real estate investment goals. Our clients range fromprivate local investors to multi-national REITS. We have closedtransactions throughout the United States and from around theworld. No job is too small or too large for our dedicated team ofprofessionals. We are experts on current market conditions andprovide expert advise on the best pricing and buying or sellingstrategies. We have industry wide connections and make it a policy towork hand in hand with our peers, principals and institutions to getthe deal done. We are second to none in our ability to identify, sell orlease investment quality real estate.
Our MissionAbsolute Investment Realty’s mission is to help our clients achievetheir commercial real estate goals.
How We Help Our Clients SucceedOur firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.
We start by understanding our client’s needs and working closely withthem to develop a customized acquisition, disposition, leasing ordevelopment plan specifically designed to help our clients reach theirgoals as expeditiously as possible.
Awards and AccoladesAwarded to the top 5 brokerage firms in NM, Absolute InvestmentRealty has achieved the coveted Costar Power Broker Award everyyear we’ve been in business.
Alfredo Barrenechea
Qualifying Broker
Alfredo specializes in the acquisition and disposition of investment real estateand has experience in closing large industrial, office, and hospitalitytransactions. With over 12 years of experience in the commercial real estateindustry as a developer, landlord and broker Alfredo has worked with nation’stop tenants, investors and real estate investment companies. Alfredo has apassion for helping his clients meet their real estate investing goals and excelsat closing complicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from the University of NewMexico and is a member of CARNM and ICSC.
Some of Alfredo’s Recent Transactions
Rita Cordova, a native New Mexican joined Absolute Investment Realty in Julyof 2017. Rita is an industrial and office specialist who comes to thecommercial real estate world with extensive experience working for nationalcompanies in banking, title, escrow, and lending as both an originator andwholesaler. Rita, an entrepreneur who owned a paint and body shop business,utilizes her skills in business to understand and fulfill the needs of her clients.
Rita Cordova
Associate Broker
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104
Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea 505-401-0135
Rita Cordova 505-489-8538
Disclaimer and ConfidentialityThis is a confidential marketing package indented solely for the reader’suse in determining its desire to express further interest in the lease orpurchase of this property, as appropriate. Additionally, this package andthe information contained herein is not for public distribution and isintended only for parties with a bonified interest in the lease orpurchase of this property and should not be distributed otherwise.
The information contained in this marketing package is believed to bereliable. While the broker does not doubt the accuracy, it has notverified it and the broker and property owner make no guarantee,warranty or representation about it. It is the reader’s responsibility toindependently confirm its accuracy and completeness. All financialinformation contained herein is provided as a general reference andshould not be treated as fact, but should be independently verified bythe reader of this material.
By receipt of this marketing package, the reader agrees to keep thispackage and all material contained herein strictly confidential andagrees to destroy or return this package to Absolute Investment Realtyupon the readers determination it has no interest in leasing orpurchasing the property. Additionally, the information contained hereinis not be utilized to the detriment of the property owner, AbsoluteInvestment Realty or its associated brokers, any tenant(s) of theproperty, or any other party affiliated with the property.
By receipt of this marketing package, the reader agrees it will notcontact or approach the property owner without express permission ofthe broker. And further that the reader will not contact or approach thetenant(s) or operator(s) of the property, if any, without the expresswritten permission of the property owner.
The property owner has absolutely no obligation to sell or lease theproperty to any person or entity regardless of proposed pricing orterms. Additionally, the property owner reserves the right, in it sole andabsolute discretion, to reject any or all offers or expressions of interestto purchase or lease the property.
Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104