301 California St SE

The US Electric Facility in Albuquerque, New Mexico, comprises two buildings. 1) Office/Warehouse building, approximately 6,000 sqft (Office: 3,750 sqft Warehouse: 2,250 sqft) AND 2) 5,000 sqft Warehouse Building. Abundant open space/yard(s) and covered parking for vehicles, equipment, materials, etc. The property is well-positioned for future expansion needs and or yard-intensive uses.

Property Size and Occupancy

Property Size: 11,500 sqft

Tenant: 1

Total Occupied Space: 11,500 sqft

Proposed NNN Lease Sturcture

Land Lord Responsibilities: NONE

Tenant Expenses: 100%

Proposed Term: 36 months

Proposed Escalations: 3% Annually

Renewal Options: Two (2) one year options

Proposed Scheduled Net Operating Income:

Base Rent: $13, 283.33 per month.

NOI: $159,400

100% Absolute NNN

LOCATION OVERVIEW

301 California St SE in Albuquerque, New Mexico, is situated within Albuquerque's International District, a culturally diverse neighborhood known for its variety of international restaurants and grocery stores. The district encompasses several communities, including Fair West, La Mesa, South San Pedro, Trumbull Village, and Elder Homestead. It is bounded by San Mateo Boulevard, Lomas Boulevard, Wyoming Boulevard, and Gibson Boulevard. 

The area is well-connected by public transportation, with ABQ Ride operating multiple bus routes along Central Avenue, Zuni Road, and Gibson Boulevard. Additionally, the Albuquerque Rapid Transit (ART) system serves the district, providing convenient access to various parts of the city.

• Total Building SF: 11,000
  • 6,000 sqft office/warehouse: 3,750 sqft office : 2250 sqft warehouse
• Clear Height in warehouse: 16" - 24'
• Four roll up doors, grade level (16'x16')
• Total acreage: +/- 1 acre
• Property fully fenced with a security system
• Power: 3 Phase - 480/277 200 AMP
• Covered Equipment Parking area
• Year Built: 2005 and 2019
• Abundant parking and storage for vehicles, equipment, materials, etc.
• HVAC in office space. Swamp coolers in the warehouses.

Asset Profile:

• US Electric - Albuquerque, NM
  • 301 California St. SE Albuquerque, NM 87108
  • 304 California St. SE Albuquerque, NM 87108
  • 6404 Acoma Rd. SE Albuquerque, NM 87108 (Lot 1, 6, 23)
• Asset Type: Single-Tenant Industrial
• Occupancy: 100%
• Lease Structure: Absolute NNN
• Proposed NOI: $159,400
• Cap Rate: 8.86% Cap