10221 Central Ave NE
Albuquerque, NM 87123

Absolute Investment Realty has been selected as the exclusive representative of the owner of this high-quality, credit tenant leased 3-unit building located at 10221 Central Ave NE, Albuquerque, NM 87123. Built in 2015, this property is a rare opportunity to own a 3-tenant retail building in one of the fastest growing trade areas of Albuquerque, NM. The property is currently leased by 2 credit tenants (Pacific Dental and T-Mobile) with approximately 5 years each remaining on their lease terms. There is only one vacant space of 1,390 SF at the property which gives the new owner an opportunity for income upside. Don’t miss this fantastic opportunity to acquire high-quality real estate with long-term credit tenants in a very desirable and growing trade area. East Gateway Plaza is a high-quality, low-maintenance investment asset with 2 long-term corporate credit tenants and potential upside. The Property only has 1,390 SF vacant of a total 6,190 SF GLA. Pacific Dental (D.B.A. as Albuquerque Dentist Office is the anchor tenant occupying 3,000 of the center. T-Mobile occupies an additional 1,800 SF. The NOI for the leased portions of the property is approximately $142,200 (which does not account for approximately $8,660 of annual expense allocations for the vacant portion). Pacific Dental has a guaranteed 10% rent increase June 1, 2020. Additionally, T-Mobile’s rent will also increase 10% June 1, 2020 provided they renew. At that time, NOI on the 2 leased portions of the property will be an estimated $156,420 and a corresponding cap rate of 7.15%. Even at the increased rent, the new owner of the property still has potential upside from leasing the vacant suite. This well maintained investment is the perfect opportunity for an exchange buyer looking for easy “mail-box” income or buyer looking to add value and increase NOI.