grocery anchored shopping center investment montaño plazaimages1.loopnet.com/.../document.pdf ·...
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6801 Jefferson NE, Suite 200 Albuquerque, NM 87109 www.iparealty.com
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
Grocery Anchored Shopping Center InvestmentMontaño Plaza
NEQ of Coors Blvd. & Montano Rd.
505.878.0001www.iparealty.com
A division of NAI Maestas & Ward
Price: $8,760,000Net Operating Income: $830,964CAP Rate: 9.5%Interest: Leasehold
OFFERING SUMMARY
The information contained is believed 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 its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs.
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
505.878.0001
NEQ of Coors Blvd. & Montano Rd.
A division of NAI Maestas & Wardwww.iparealty.com
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from NAI Maestas & Ward and should not be made available to any other person or entity without the written consent of NAI Maestas & Ward. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.
NAI Maestas & Ward has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NAI Maestas & Ward has not verified, and will not verify, any of the information contained herein, nor has NAI Maestas & Ward conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A NAI MAESTAS & WARD ADVISOR FOR MORE DETAILS.
ConfidentialDisclaimer
The information contained is believed 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 its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs.
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
505.878.0001
NEQ of Coors Blvd. & Montano Rd.
A division of NAI Maestas & Wardwww.iparealty.com
Montaño Plaza Shopping Center is located on Albuquerque’s Westside, 1 mile west of the Rio Grande, on Coors Blvd., one of the busiest city traffic corridors, with over 86,000 cars passing per day. The property is ideally positioned to service established Westside neighborhoods which include Taylor Ranch and Paradise Hills, two of the fastest growing residential trade areas of Albuquerque with nearly 12% population growth planned in the next 5 years. This residential growth combined with busy commuter traffic via Coors Blvd., a primary north/south arterial, and the properties proximity to the Montaño Bridge, and east-west crossing over the Rio Grande, make this one of the premier and most sought-after retail locations in the City.
Montano Plaza is an established neighborhood center anchored with a 44,000 square foot Albertson’s Grocery store. This center/grocery store trade area comprises more than 73,300 people with average household incomes of $75,290 in a three mile radius. The center is 99.5% occupied with 35 separate retail spaces ranging from ±600 square feet to ±44,000 square feet.
The sale includes the improved shopping center on long-term ground lease with ±35 years remaining. The shopping center provides excellent stabilized Cashflow and strong future upside income from rent increases as existing tenant leases toll and rents are increased to current market.
PURCHASE PRICE: � $8,760,000 ($72.29/SF)
OCCUPANCY: � 95% Leased
CENTER SIZE: � ±121,171 SF
LAND: � ±15.35 Acres � Ground leased through March 2051
YEAR BUILT: � 1985
RENOVATED: � 2007
LOCATION: � 6200 Coors Blvd. NW Albuquerque, NM 87120
STRONG TRAFFIC COUNTS: � Coors Blvd. 57,000 CPD � Montaño Rd. 29,300 CPD
ANCHORS: � Albertson’s (±44,000 SF) � Aaron’s Rents (±12,271 SF)
Investment Highlights
The information contained is believed 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 its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs.
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
505.878.0001
NEQ of Coors Blvd. & Montano Rd.
A division of NAI Maestas & Wardwww.iparealty.com
INCOME SFRent 121,121 1,106,338 CAM, TAXES and INS Recapture 275,814 Albertson's Percentage Rent 5,000 Total Income: 121,121 1,387,152
EXPENSES Property Taxes 104,491 Property Insurance 21,630 Building R & M 15,261Pest Control 1,043Lighting 3,081Parking Lot Maintenance 32,712 Sidewalk Powerwashing 3,082 Landscape 16,375 Utilities - Gas and Electric 11,882 Utilities - Water, Sewer,Trash 94,592Land Lease Payment 182,206 Management Fees 66,379Miscellaneous 3,454Total Expenses: 556,188
Annual NOI 830,964
Operating Summary
The information contained is believed 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 its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs.
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
505.878.0001
NEQ of Coors Blvd. & Montano Rd.
A division of NAI Maestas & Wardwww.iparealty.com
Site Plan
The information contained is believed 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 its accuracy and completeness. Any projection, opinion, assumption or estimated uses are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on many factors which should be evaluated by your tax, financial, and legal counsel. You and your counsel should conduct a careful independent investigation of the property to determine that it is suitable to your needs.
RICH DILLER, CCIM, [email protected]
505 998 5736
COLE FLANAGAN, [email protected]
505 338 4107
505.878.0001
NEQ of Coors Blvd. & Montano Rd.
A division of NAI Maestas & Wardwww.iparealty.com
Custom Map
June 03, 2014
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