1358 Wyoming Blvd NE
Albuquerque, NM 87112
20 Year Murphy Oil Ground Lease - Fee Simple · Retail Property For Sale

Absolute Investment Realty has been chosen as the exclusive representative for the sale of this Absolute NNN Leased investment property. The Tenant, Murphy Oil USA, Inc. USA (Moody’s Ba1 credit rating; BB+ S&P credit rating) has executed a 20 year ground lease for the property where it will build and operate a gas station and convenience store with a license to sell package alcohol. The tenant is responsible for all development and construction of the property. The 20 year lease term will commence the earlier of either the day the tenant opens for business or 4/18/2018. The rent increases 10% every 5 years for the duration of the initial term and all option terms. The property is located just north of a freeway on/off ramp on a primary corridor in one of the most desirable trade areas of Albuquerque. Walmart, 3 regional malls and a regional hospital are all located within a 1 mile radius from the property. As of October 20, 2017 the tenant has completed approximately one year of due-diligence, waived all contingences and is in the process of finalizing it’s permits to develop the property. Additionally, the tenant has acquired a liquor license and has completed the lengthy approval process to sell package liquor. In New Mexico, a retailer package liquor license is typically a significant investment in both time and money, emphasizing the tenant’s commitment to the location.