4700 4th St NW
Albuquerque, NM 87107
Retail Property For Sale

Marcus & Millichap is pleased to present a fee simple Walgreens located in Albuquerque, New Mexico. The subject property (the property or Walgreens) consists of approximately 1.71-acres of land. Affixed to the property is a free-standing 14,490-square foot retail building which was built in 2003 as a prototype store for Walgreens. Currently, Walgreens has over ten plus years remaining on its absolute-net lease until they can exercise their first right-to-terminate option. The property features a drive-thru window and abundant on-site parking with a parking ratio of 5/1,000. There are no rent increases throughout the term of the lease and Walgreens has the ability to terminate its lease every five years after June 1st, 2028 through May 31st, 2073. The property is situated in the Northwest quadrant of Albuquerque at the signalized intersection of 4th Street and Griegos Road. The Property receives great visibility from its pylon sign and the signalized intersection which experiences a traffic count of 36,000-plus vehicles per day. The property is easily accessible through its two points of ingress/egress and its close proximity to the on/off ramp of Interstate-25, a major highway connecting Albuquerque to neighboring cities such as Bernalillo and Santa Fe. The property is also located less than three miles from Downtown, five miles away from The University of New Mexico, and less than seven miles from Albuquerque International Airport.