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Freddy's - Albuquerque NM 10201 Central Ave NE 3,264 SF Retail Building Albuquerque, NM 87123 $2,901,548 CAD ($888.95 CAD/SF) 6.75% Cap Rate
Investment Highlights
- 11 Year Operating History | 10% Rent Increases | Strong Franchisee | Options to Extend | Large Parcel | Replaceable Rent
- Off Signalized, Hard Corner Intersection | 1.19 AC Parcel | Surrounding Retailers | Replaceable Rent | Main Retail Corridor
- Strong Demographics In 5-mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Freddy’s Recently Acquired by Rhône | Growing Franchisee Program
Executive Summary
• Freddy’s has operated at this location for 11 years and has 4+ years remaining on their lease with 3 (5-year) options to extend
• The lease features 10% rental increases every 5 years and at the beginning of each options
• The tenant, ERC New Mexico, LLC operates 10 Freddy’s locations in New Mexico and El Paso County, TX
• Operated by the larger entity, ERC Management, which operates a total of 34 locations in Colorado, Alabama, Texas, and New Mexico with plans to open more stores in New Mexico and El Paso County, TX
• The lease features 10% rental increases every 5 years and at the beginning of each options
• The tenant, ERC New Mexico, LLC operates 10 Freddy’s locations in New Mexico and El Paso County, TX
• Operated by the larger entity, ERC Management, which operates a total of 34 locations in Colorado, Alabama, Texas, and New Mexico with plans to open more stores in New Mexico and El Paso County, TX
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,264 SF
Building Class
B
Year Built
2014
Price
$2,901,548 CAD
Price Per SF
$888.95 CAD
Cap Rate
6.75%
NOI
$195,865 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.19 AC
Zoning
MX-H - Mixed Use High Intensity
Parking
73 Spaces (22.37 Spaces per 1,000 SF Leased)
Frontage
159’ on Central Avenue Northeast
Amenities
- Corner Lot
- Restaurant
- Signage
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 1-020-056-482003-1-18-03 | Improvements Assessment | $127,628 CAD |
| Land Assessment | $114,206 CAD | Total Assessment | $241,833 CAD |
Property Taxes
Parcel Number
1-020-056-482003-1-18-03
Land Assessment
$114,206 CAD
Improvements Assessment
$127,628 CAD
Total Assessment
$241,833 CAD
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Freddy's - Albuquerque NM | 10201 Central Ave NE
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