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1620 Towne Center Ln SE
Albuquerque, NM 87106
Denny's | Abs NNN | Scheduled Increases · Retail Property For Sale
Investment Highlights
- Over 7 Years Remaining | Franchisee & Personal Guaranteed | Scheduled Rental Increases
- University Of New Mexico | Albuquerque International Airport | Interstate 25 (119,700 VPD) | Hotel Corridor | Strong Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Denny’s investment property located in Albuquerque, New Mexico. The tenant, New Mexico’s Best Diner, LLC has over 7 years remaining on lease term with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,298 SF
Building Class
C
Year Built
2014
Price
$2,521,000
Price Per SF
$586.55
Cap Rate
6.60%
NOI
$166,375
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.93 AC
Opportunity Zone
Yes
Zoning
PD - Planned Development
Parking
64 Spaces (14.89 Spaces per 1,000 SF Leased)
Frontage
32’ on Towne Center Lane
Amenities
- Restaurant
- Monument Signage
Property Taxes
| Parcel Number | 1-015-056-314018-4-03-04 | Improvements Assessment | $229,878 |
| Land Assessment | $80,308 | Total Assessment | $310,186 |
Property Taxes
Parcel Number
1-015-056-314018-4-03-04
Land Assessment
$80,308
Improvements Assessment
$229,878
Total Assessment
$310,186
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