Marcus & Millichap is pleased to offer the opportunity to acquire a 6,321-square foot, single-tenant building leased to Precious Moments Learning Center in Albuquerque, New Mexico. The absolute net lease has a personal guarantee, with zero landlord responsibilities. More than five years remain on the original 15-year term, and the lease has scheduled rent escalations annually. Tenant has no options for renewal. Enrollment is currently at capacity at this location. The building was constructed in 2009 and is situated on 0.5 acres.
The subject property is located on Ladera Drive, one lot from the signalized intersection with Atrisco Drive. Traffic counts are approximately 10,400 vehicles per day in front of the property. Neighboring retailers include Panera Bread, Starbucks, Walgreens, Chipotle, Jiffy Lube, Wells Fargo, Taco Cabana, Dollar Tree, Planet Fitness, Play It Again Sports, Big 5 Sporting Goods, Cracker Barrel, The Home Depot, Payless ShoeSource, Golden Corral, Applebee’s, Walmart Supercenter, IHOP, Krispy Kreme Doughnuts, and more. The surrounding area is densely populated with more than 188,000 residents within five miles, having an average household income of $65,810.
Albuquerque is the county seat of Bernalillo County and the principal city of the Albuquerque metropolitan area, which has 910,726 residents. Albuquerque is home to institutions and monuments such as the University of New Mexico, Kirtland Air Force Base, Sandia National Laboratories, the National Museum of Nuclear Science and History, Lovelace Respiratory Research Institute, Central New Mexico Community College, Presbyterian Medical Services, Presbyterian Health Services, New Mexico Museum of Natural History and Science, Albuquerque Biological Park, and the Petroglyph National Monument. The city is the location of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions. Albuquerque is also the home of the International Balloon Fiesta, the world’s largest such gathering of hot-air balloons from around the globe, taking place every October.
- 6,321-Square Foot Building
- Absolute Net Lease | No Landlord Responsibilities
- Lease has a Personal Guarantee from a Four-Unit Operator | Precious Moments Locations are Well-Established Learning Centers in the City of Albuquerque
- Enrollment is Currently at Capacity (120 Students)
- More than Five Years Remain on the Primary Term
- Lease has Annual Rent Increases
- Tenant has No Options for Renewal
- Located on Ladera Drive | Traffic Counts are Approximately 10,400 Vehicles per Day | One Lot from the Signalized, Hard Corner of Atrisco Drive
- Densely Populated Area | More than 188,000 Residents within Five Miles | Average Household Income is $65,810
- Albuquerque is the Largest City in the State of New Mexico and the Principal City of the Albuquerque Metropolitan Area, Serving More than 910,700 People
- Home to the New Mexico Technology Corridor, Comprised of a Concentration of High-Tech Private Companies and Government Institutions
- Part of a Two-Property Precious Moments Portfolio | Additional Center Located at 6711 Church Road SW | May be Purchased as a Portfolio or Individually
