#2 HIGHEST VPD CORNER IN THE STATE WITH GUARANTEED CASHFLOW
Albuquerque's second-busiest intersection: a two-parcel, 16,104 SF retail portfolio at Montgomery and San Mateo Boulevard NE, offered at $7,250,000 (5.43% cap, $393,971 NOI). Both assets are fully leased under net lease structures—the primary 14,454 SF building is occupied by CVS Pharmacy on an Absolute NNN lease through 2033, while a newly leased 1,650 SF freestanding building houses In and Out MVD on a five-year NNN lease with 3% annual escalations. The CVS location currently operates dark but continues to pay rent, creating upside through potential lease buyout or subleasing.
The hard corner commands 75,000+ vehicles daily and benefits from a dense, affluent trade area: over 300,000 residents within five miles at an average household income of $88,000. Built in 2004 and situated on 1.49 acres with 64 parking spaces, the property features premier monument signage visible from multiple directions. The MX-L zoning and institutional-grade location support redevelopment potential alongside immediate, reliable cash flow.
- Second-busiest intersection in New Mexico; 75,000+ daily vehicle traffic
- CVS Pharmacy on Absolute NNN lease through 2033; currently dark with rent continuing
- In and Out MVD on new five-year NNN lease with 3% annual escalations
- 300,000+ residents within five miles; $88,000 average household income
- Two-building portfolio on hard corner; 64 parking spaces; redevelopment upside
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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.