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Freddy's - Albuquerque NM 10201 Central Ave NE 3,264 SF Retail Building Albuquerque, NM 87123 $2,074,285 ($635.50/SF) 7% Cap Rate
Investment Highlights
- 11+ Year Operating History | 10% Rent Increases | Strong Franchisee | Options to Extend | Large Parcel | Replaceable Rent | Strong Sales
- Off Signalized, Hard Corner Intersection | 1.19 AC Parcel | Surrounding Retailers | Replaceable Rent | Main Retail Corridor
- Strong Demographics In 5-mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Freddy’s Recently Acquired by Rhône | Growing Franchisee Program
Executive Summary
• Freddy’s has operated at this location for over 11 years and has more than 3 years remaining on their lease with 3 (5-year) options to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option
• The store produced a strong 12%+ EBITDA margin in 2024, placing it above system averages and reinforcing long-term rent security
• The tenant, ERC New Mexico, LLC operates 10 Freddy’s locations in New Mexico and El Paso County, TX
• Operated by the larger entity, ERC Management, which operates a total of 34 locations in Colorado, Alabama, Texas, and New Mexico with plans to open more stores in New Mexico and El Paso County, TX
• The lease features 10% rental increases every 5 years and at the beginning of each option
• The store produced a strong 12%+ EBITDA margin in 2024, placing it above system averages and reinforcing long-term rent security
• The tenant, ERC New Mexico, LLC operates 10 Freddy’s locations in New Mexico and El Paso County, TX
• Operated by the larger entity, ERC Management, which operates a total of 34 locations in Colorado, Alabama, Texas, and New Mexico with plans to open more stores in New Mexico and El Paso County, TX
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,264 SF
Building Class
B
Year Built
2014
Price
$2,074,285
Price Per SF
$635.50
Cap Rate
7%
NOI
$145,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.19 AC
Zoning
MX-H - Mixed Use High Intensity
Parking
73 Spaces (22.37 Spaces per 1,000 SF Leased)
Frontage
159’ on Central Avenue Northeast
Amenities
- Corner Lot
- Restaurant
- Signage
- Drive Thru
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1-020-056-482003-1-18-03 | Improvements Assessment | $94,614 |
| Land Assessment | $84,664 | Total Assessment | $179,278 |
Property Taxes
Parcel Number
1-020-056-482003-1-18-03
Land Assessment
$84,664
Improvements Assessment
$94,614
Total Assessment
$179,278
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