Description

This exceptional commercial real estate offering represents one of the most significant investment opportunities to emerge in New Mexico in recent years. The two-parcel portfolio controls the entire hard corner at Montgomery Boulevard and San Mateo Boulevard NE, recognized as the second busiest intersection in the state with traffic counts exceeding 75,000 vehicles daily. Framed by the Sandia Mountains, the property spans approximately 16,104 square feet of retail space across 1.49 acres, with both assets fully leased under net lease structures that provide immediate and reliable income. The primary asset, a 14,454-square-foot retail building occupied by CVS Pharmacy, is secured by a corporate-guaranteed Absolute NNN lease extending through 2033, offering truly passive ownership despite the store currently operating dark while continuing to pay rent. This creates additional upside through potential lease buyout negotiations or subleasing opportunities. The second parcel features a newly leased 1,650-square-foot freestanding retail building occupied by In and Out MVD under a brand-new five-year NNN lease with annual 3% rent escalations. Enhanced by premier monument signage capturing traffic from multiple directions, the property benefits from a dense and affluent trade area with more than 300,000 residents within five miles and average household incomes around $88,000. Combining institutional-grade location, strong in-place cash flow, redevelopment potential, and long-term appreciation prospects, this offering is uniquely suited for investors, owner-users, or redevelopment groups seeking a rare trophy asset in Albuquerque.