downtown/old town investment opportunity · mta pest control $42.80 $513.60 $42.80 $513.60 total...

Features:

Absolute Investment Realty | 131 Madison NE Ste 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Alfredo Barrenechea 505-401-0135

[email protected]

Downtown/Old Town Investment Opportunity1412 Lomas Blvd. NW Albuquerque, NM 87104

Sale Price: $520,000 ($100.00/SF)

Cap Rate: 7.57%

Est. 2018 NOI: $39,367.52

Rita Cordova 505-489-8538

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8.80% Estimated Cash on Cash

Close Proximity to Court Houses

On Site Parking

Highly Visible from Lomas Blvd

Strong Upside Potential

Courtyard and Balcony

Excellent Accessibility

MX-L Zoning

Building Size: +/- 5,200 SF

Land Size: +/- 0.2456 acres

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Property Overview

Absolute Investment Realty has been selected as the exclusive representative of

the owner of 1412 Lomas Blvd SW. This property is a fantastic +/-5,200 SF multi-

tenant office building on 0.25 acres and is an ideal owner-user and/or investment

opportunity. The property can be purchased with current tenants in place, or can

be owner occupied.

The Building features includes 11 offices, 4 bathrooms, break room, conference

room, 2 open work areas, a balcony and courtyard. The Property is conveniently

located between Old Town and Down Town making it ideal for an attorney’s office.

The trade area is one of Albuquerque’s densest trade areas with approximately

253,000 people living within a 5 mile radius which makes it an ideal attorney

office. The property has excellent visibility and is one of. Access to the property is

convenient with easy ingress and egress to Lomas Avenue. The property has an

ample 20 parking stalls. Zoning is MX-L, Mixed-Use, Low Intensity which allows for

a wide variety of commercial uses.

Property Summary

Disclaimer: The information contained in this marketing package is believed to be reliable. Whilewe do not doubt the accuracy, we have not verified it and make no guarantee, warranty orrepresentation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Additionally, this package and the information contained herein is intended onlyfor parties with a bonified interest in the lease or purchase of this property and should not bedistributed otherwise.



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Property Address: 1412 Lomas Blvd NW, Albuquerque NM 87104

Property Description: 2-Story Multi-Tenant Office Building

Property Size: (+/-) 0.2456 Acres

Building Size: (+/-) 5200 SF

Use: Multi-Tenant Attorney Offices

Zoning: MX-L

Access: Full-turn access on Lomas

Visibility: Excellent

Trade Area: Down Town / Old Town

Number of Tenants: 8

Total Leasable Offices: 11

Leaseable Open Workspace Desks 2

Estimated 2018 NOI: $39,368

Cap Rate: 7.57%

Pro Forma Cap Rate: 16.22%





Trade Area Map



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SITE

University of New Mexico

Trade Area Demographics

Radius 1 Mile 3 Mile 5 Mile

Population (2018 Estimate) 11,117 95,011 253,118

Avg HH Income (2018 est) $61,742 $57,290 $61,440

Historic Old Town

Down TownAlbuquerque

Country Club

Albuquerque

Bio Park &

Aquarium

Rio Grande Zoo

EDO

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Site Close Up & Location Description

Property and Location DescriptionThis property is located 2 blocks from historic Old Town and just west of Down Town trade area of Albuquerque, New Mexico, near Albuquerque’s most famousattractions including the Albuquerque Aquarium and Bio Park, Tingly Beach, the Albuquerque Museum, Natural History Museum, and Explora children's museum.

The Property is at the intersection of Lomas and 15th Street just east of Rio Grande Blvd which is a gateway to old town and adjacent to down town with quick accessto both 1-25 and 1-40. This space would make a beautiful office setting with open work space and conference area.



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Reception/Waiting Area

Conference Room

Office Space

Pictures

11 offices and 4 bathrooms



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Leases and Financial SummaryFinancial Highlights



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Disclaimer: The information contained in this marketing package is believed to be 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 itsaccuracy and completeness. Additionally, this package and the information containedherein is intended only for parties with a bonified interest in the lease or purchase of thisproperty and should not be distributed otherwise.

Lease Summary

Number of Tenants / Potential Tenants: 8 / 11

Lease Types: Full Service Executive Offices

Lease Term: Month to Month

Tenant Occupations: Attorneys

Additional Services Provided: Reception, Printing & Copying

Access to Conference Room: Yes

Current Financial Summary

Occupancy Rate: 61.54%

Estimated 2018 Gross Income: $64,800

Estimated 2018 Expenses: $25,432

Estimated 2018 NOI: $39,368

Cap Rate: 7.57%

Est. Cash on Cash: 8.80%

Pro-Forma Financial Summary

Market Rate Income (100% Leased): $109,800

Expenses: $25,432

Potential NOI: $84,368

Potential Cap Rate: 16.22%

Potential Cash on Cash Return: 43.22%

Entry Lobby





Rent Roll with Income & Expense Summary



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Income1st Floor Current Rent Market Rent

Suite Tenant Use Monthly Annually Monthly AnnuallyA Ben Wilson Attorney $650.00 $7,800.00 $700.00 $8,400.00B Gilbert Juarez Attorney $500.00 $6,000.00 $700.00 $8,400.00C Josh Sims Attorney $500.00 $6,000.00 $600.00 $7,200.00D Vacant $0.00 $0.00 $600.00 $7,200.00E Vacant $0.00 $0.00 $600.00 $7,200.00

1st Floor $1,650.00 $19,800.00 $3,200.00 $38,400.00

2nd Floor Current Rent Market RentSuite Tenant Monthly Annually Monthly Annually

1 Tim Padilla Attorney $1,800.00 $21,600.00 $1,800.00 $21,600.002 Pilar Murray Attorney $500.00 $6,000.00 $750.00 $9,000.003 Vacant $0.00 $0.00 $700.00 $8,400.004 Leon Encenias Attorney $550.00 $6,600.00 $700.00 $8,400.005 Vacant $0.00 $0.00 $750.00 $9,000.006 Charles Knoblauch Attorney $650.00 $7,800.00 $750.00 $9,000.00

7 - Open Work Space Bill Cooley Attorney $250.00 $3,000.00 $250.00 $3,000.008 - Open Work Space Vacant $0.00 $0.00 $250.00 $3,000.00

2nd Foor $3,750.00 $45,000.00 $5,950.00 $71,400.00

Total Income $5,400.00 $64,800.00 $9,150.00 $109,800.00

Expenses 2018 Estimated Pro-FormaReceptionist $1,400.00 $16,800.00 $1,400.00 $16,800.00Property Taxes $364.43 $4,373.20 $364.43 $4,373.20Insurance $218.00 $2,616.00 $218.00 $2,616.00Cleaning $250.00 $3,000.00 $250.00 $3,000.00Maintenance & Repairs $225.00 $2,700.00 $391.67 $4,700.00PNM $445.52 $5,346.24 $445.52 $5,346.24NM Gas $120.46 $1,445.52 $120.46 $1,445.52ABCWUA $132.07 $1,584.84 $132.07 $1,584.84Comcast $321.09 $3,853.08 $321.09 $3,853.08MTA Pest Control $42.80 $513.60 $42.80 $513.60

Total Monthly Expenses $2,119.37 $25,432.48 $2,119.37 $25,432.48

NOI $39,367.52 $84,367.52





Floorplans



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1st Floor• 5 offices• 1 breakroom • 2 bathrooms • 1 conference room• Lobby and reception

area• Storage space

Suite Tenant

A Ben Wilson

B Gilbert Juarez

C Josh Sims

D Vacant

E Vacant





Floorplans



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2nd Floor Features• 6 offices, 1 with

patio balcony• 2 open work area • 2 bathrooms, 1 with

shower.

Suite Tenant

1 Tim Padilla

2 Pilar

3 Vacant

4 Leon Encenias

5 Vacant

6 Charles Knoblauch

7 Bill Cooley

8 Vacant





Demographics

Businesses – 1 Mile

Consumer Spending – 1 Mile

Daytime Employees – 1 Mile



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Albuquerque, NM MSAAlbuquerque is located in the Rio Grande Valley, and is shadowed by the majesticSandia Mountains. With a population of approximately 900,000 people, the metro areahas a projected growth rate of 7.2% over the next 2.5 years. Rio Rancho, a suburb ofAlbuquerque with a population of 89,900, has experienced explosive growth of over65% from 2000–2010, is the fastest growing city in New Mexico, and one of the fastestgrowing cities in the United States.

Albuquerque is home to the University of New Mexico (UNM) and the University ofNew Mexico Hospital (UNMH) which together employ 20,210 people. Kirtland Air ForceBase and Sandia National employ a high-tech, educated work force of about 23,000people. Lying at the center of the New Mexico Technology Corridor, Albuquerque isranked as one of Forbes Best Cities for Business, for its concentration of high-techprivate companies and government institutions along the Rio Grande river valley. Somekey technology based employers include Sandia National Laboratories, Intel, Raytheonand Northrup Grumman. Albuquerque is a regional center for transportation, healthcare, government agencies, nuclear research, and tourism.

Albuquerque is host to the world famous Albuquerque International Balloon Fiestawhich draws over 1,000,000 visitors per year. Less than one hour away is the HistoricalCity of Santa Fe, which has year round outdoor activities and routinely receives awardsfor quality of life and low cost of living.

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Absolute Investment RealtyWho We AreAbsolute Investment Realty is an investment oriented commercial realestate brokerage firm focused on helping our clients meet theircommercial real estate investment goals. Our clients range fromprivate local investors to multi-national REITS. We have closedtransactions throughout the United States and from around theworld. No job is too small or too large for our dedicated team ofprofessionals. We are experts on current market conditions andprovide expert advise on the best pricing and buying or sellingstrategies. We have industry wide connections and make it a policy towork hand in hand with our peers, principals and institutions to getthe deal done. We are second to none in our ability to identify, sell orlease investment quality real estate.

Our MissionAbsolute Investment Realty’s mission is to help our clients achievetheir commercial real estate goals.

How We Help Our Clients SucceedOur firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.

We start by understanding our client’s needs and working closely withthem to develop a customized acquisition, disposition, leasing ordevelopment plan specifically designed to help our clients reach theirgoals as expeditiously as possible.

Awards and AccoladesAwarded to the top 5 brokerage firms in NM, Absolute InvestmentRealty has achieved the coveted Costar Power Broker Award everyyear we’ve been in business.

Alfredo Barrenechea

Qualifying Broker

Alfredo specializes in the acquisition and disposition of investment real estateand has experience in closing large industrial, office, and hospitalitytransactions. With over 12 years of experience in the commercial real estateindustry as a developer, landlord and broker Alfredo has worked with nation’stop tenants, investors and real estate investment companies. Alfredo has apassion for helping his clients meet their real estate investing goals and excelsat closing complicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from the University of NewMexico and is a member of CARNM and ICSC.

Some of Alfredo’s Recent Transactions

Rita Cordova, a native New Mexican joined Absolute Investment Realty in Julyof 2017. Rita is an industrial and office specialist who comes to thecommercial real estate world with extensive experience working for nationalcompanies in banking, title, escrow, and lending as both an originator andwholesaler. Rita, an entrepreneur who owned a paint and body shop business,utilizes her skills in business to understand and fulfill the needs of her clients.

Rita Cordova

Associate Broker



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Disclaimer and ConfidentialityThis is a confidential marketing package indented solely for the reader’suse in determining its desire to express further interest in the lease orpurchase of this property, as appropriate. Additionally, this package andthe information contained herein is not for public distribution and isintended only for parties with a bonified interest in the lease orpurchase of this property and should not be distributed otherwise.

The information contained in this marketing package is believed to bereliable. While the broker does not doubt the accuracy, it has notverified it and the broker and property owner make no guarantee,warranty or representation about it. It is the reader’s responsibility toindependently confirm its accuracy and completeness. All financialinformation contained herein is provided as a general reference andshould not be treated as fact, but should be independently verified bythe reader of this material.

By receipt of this marketing package, the reader agrees to keep thispackage and all material contained herein strictly confidential andagrees to destroy or return this package to Absolute Investment Realtyupon the readers determination it has no interest in leasing orpurchasing the property. Additionally, the information contained hereinis not be utilized to the detriment of the property owner, AbsoluteInvestment Realty or its associated brokers, any tenant(s) of theproperty, or any other party affiliated with the property.

By receipt of this marketing package, the reader agrees it will notcontact or approach the property owner without express permission ofthe broker. And further that the reader will not contact or approach thetenant(s) or operator(s) of the property, if any, without the expresswritten permission of the property owner.

The property owner has absolutely no obligation to sell or lease theproperty to any person or entity regardless of proposed pricing orterms. Additionally, the property owner reserves the right, in it sole andabsolute discretion, to reject any or all offers or expressions of interestto purchase or lease the property.





downtown/old town investment opportunity · mta pest control $42.80 $513.60 $42.80 $513.60 total...

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