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2 tenant building in Uptown @ Menaul/Louisiana NE with $173.6k NOI at 8% CAP.

7001 Menaul Blvd NE Albuquerque, NM 87110

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Overview

Nicely renovated, two tenant building in Uptown for sale. Bottom floor (4,300+- SF) is occupied by financially strong Cannabis Dispensary with long term lease in place. Upstairs (2,576+- SF) is owner occupied by financially strong office user with long term lease in place but is willing to vacate if buyer wants to use as owner occupied. Property has great location in Uptown on Menaul just East of Lousiana. Strong visibility/signage via large digital monument sign. Recently remodeled interior and exterior. Has 12 parking spaces on site plus additional parking available on street and at adjacent property. Modern exterior/interior remodel, refrigerated air/central heat, 3 phase power, etc. Both leases are NNN, have 4+- years remaining on intial term and have annual rent increases.

For Sale

Retail

Secondary Uses: Mixed Use

Sale Price
$2,170,000
Price Per SF
$306.3/SF
Investment
Yes
Cap Rate
8%
Net Operating Income
$173,600
Building Size
7,084 SF
Acres
0.56 ac
Zoning
MX-M
Building Class
A
Number Of Buildings
1
Floors
2
Year Renovated
2023
Construction Type
Framed
Parking Spaces
12
Submarket
Northeast Heights
Nearest MSA
Albuquerque
Property Status
Existing
County
Bernalillo
Created
2023-09-29
Updated
2024-07-17
Listing ID
a32b7f21
Parcel APN
101905907227920301

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