Active
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