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Medical Portfolio - Santa Fe & Albuquerque

4233 Montgomery Blvd NE Albuquerque, NM 87109

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Overview

Two Medical Office Properties: Granada Square is being marketed as part of a  portfolio totaling approximately 75,029 square feet across 4 two-story buildings
Strategic Medical Locations: Positioned near key healthcare facilities, including hospitals and specialized medical centers.
Attractive Purchase Package: Combined offering priced at less than half of replacement cost, allowing for competitive positioning against new construction.
Stabilized Cash Flow: High occupancy rates with established, long-term medical tenants across diverse specialties.
Value-Add Potential: Below-market rents provide room for income growth as leases renew, while Saint Michael’s location enhances value in Santa Fe’s healthcare hub.
Additional Income Opportunity: Several leases include operating expense reimbursements that the current owner is not capturing, providing a pathway to increase net operating income.

Proximity to Major Medical Centers: Prime locations near Christus St. Vincent Medical Center and Lovelace Women’s Hospital.
Below-Market Rent Growth Potential: Opportunity to increase revenue as leases renew at market rates.
Stable Occupancy and Cash Flow: Both properties benefit from creditworthy tenants and consistent occupancy.
Healthcare Corridor Demand: Santa Fe and Albuquerque healthcare expansions are likely to increase patient flow and tenant interest.
Investor-Friendly Cap Rates: High yield potential with stable, diversified income sources.

Attachments

For Sale

Healthcare
Office

Secondary Uses: Medical, Office Building

Sale Price
$5,714,036
Price Per SF
$121.1/SF
Investment
Yes
Cap Rate
7%
Gross Income
$784,065
Net Operating Income
$399,982
Total Expenses
$384,082
Building Size
47,190 SF
Acres
3.37 ac
Zoning
MX-L
Zoning Description
Low Intensity
Building Name
Saint Michaels Medical & Granada Square Medical
Year Built
1986
Parking Ratio
4.1 / 1000
Submarket
Northeast Heights
Property Use Type
Investment
Property Status
Existing
Vehicles Per Day
43,482 VPD
Average Occupancy Rate
87
Nearest Interstate
I-25 - 0.72 mi
Nearest Airport
Albuquerque International Sunport - 8 mi
Power Provider
Private - PNM
Water Provider
City - ABCWUA
Sewer Provider
City - ABCWUA
Natural Gas Provider
Private - NM Gas Company
County
Bernalillo
Created
2024-12-10
Updated
2024-12-31
Listing ID
85c9cde6
Parcel APN
101706121003530113

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