Investment Opportunity
2507 Commercial St NE, 2509 Commercial St. NE, Albuquerque, NM 87107
- $802.5K
- 12,466 SF building
- 0 ac
The lease runs through May 31, 2027 and has 2% annual increases in the rent. As you can see, the rent is very low for this market. Warehouse 14’6” Eaves 17’6” -24’ Centers, 1 10’x 10 x 2’8” Dock Door, 1 10’ x 10’ x 4’ High Dock Door, 1 10’ x 10’ x 2’ Dock Door, 1 10’ x 10’ Drive-in Doors. Approx. 8 paved on-site parking spaces with many street parking spaces. Cash or refinance are the terms terms offered for this property. This is a value-added property and is currently undergoing some improvements.Founded by Martel Wilson in Stockton, California, Building Material Distributors grew rapidly into a valuable resource for professional builders. By 1974, with their insights firmly set on reaching customers all across the country, BMD acquired a new 65,000 sq. ft. building in Galt, CA, making it our new headquarters. Becoming a fully employee-owned company in 2008, BMD today remains one of the most capable distributors of high-end construction materials for commercial and residential projects in the United States. BMD has a long history of expertise and providing new experiences for the customers and markets we serve. From being recognized as the National Wholesaler of the Year by the National Building Material Distributor Association to launching an industry first next day delivery service, BMD continues to deliver building solutions to the building process. To provide builders with the absolute best materials and products for their projects, they have long valued partnerships with, and acquisitions of, the leading names in our industry. That is why in 1977, BMD introduced premium window brand Marvin to the California market. They continue to serve builders nationwide and remain committed to making the highest quality brands available to every part of the United States. BMD purchased the Builders Source, Inc. business in April of 2022, and purchased 2 Albuquerque locations, 1 in Las Cruces, and 1 in El Paso, Texas. At the time of the Builder Source business sale, said company was enjoying an approximate sales volume of close to 80 million. Builders Source is in the home appliance business, and sells low, medium, and high end products. As an added convenience to their customers, they also have an in-house company servicing the products they sell. The sellers (H & W Enterprises, LLC) of the business did retain the properties Builders Source is located in, and now wishes to offer them to prospective investors. Two of the leases have approximately a little less than 7 years remaining, and two of the leases have a little less than 2 years remaining, and the Tenant does have from 1 to 2 five year options to extend all 4 leases. There are also 2% increases in the rent during the primary terms, and also if the options are exercised. The Tenant pays for all utilities, all of the maintenance, maintenance of all of the HVAC Systems, and the real estate taxes are reimbursed to the Landlord on a monthly basis. The Landlord is responsible for the roof, the parking lot, and the property insurance. The Tenant pays for their own Content and General Liability Insurance. The following outlines the locations, approx. building & land sizes, the Zoning of the Land, and income for each property.2507-2509 Commercial St. NE Albuquerque, New Mexico 87107Building SF: 12,466+/- SF Ground Level Space 1,257+/-SF Mezzanine SpaceTotal Building: 13,723+/-SFLand SF: 0.435+/- Acre 18,944SFZoning: MX-MRental Income: $5,350.26/mo. $64,203.13/yr.Lease Expiration: May 31, 2027Annual Rent Increases: 2%Lease Renewal: 2 Five Year Options to RenewExpenses: Tenant shall pay the real estate taxes on a monthly basis, all utilities, HVAC and interior maintenance, and content and liability insurance. Landlord shall pay for the roof and parking lot maintenance. 760 West Palms Las Cruces, New Mexico 88007Building SF: 20,113+/- SF Ground Floor Space 1,733+/-SF Mezzanine SpaceTotal Building SF: 21,846SFLand SF: 1.0 +/- Acre 43,560SFZoning: M-1 Industrial StandardRental Income: $13,265.10/mo. $159,181.20/yr.Lease Expiration: May 31, 2032Annual Rent Increases: 2%Lease Renewal: 1 Five Year Option to RenewExpenses: Tenant shall pay the real estate taxes on a monthly basis, all utilities, HVAC and interior maintenance, and content and liability insurance. Landlord shall pay for the roof and parking lot maintenance, and the property insurance. 2015 East Mills Ave. El Paso, Texas 79901Building SF: 45,000+/-SFLand SF: 1.058+/-Acre 48,625SFZoning: M-1, City of El Paso, TXRental Income: $19,897.65/mo. $238,771.80/yr.Lease Expiration: May 31, 2027Annual Rent Increases: 2%Lease Renewal: 2 Five Year Options to RenewExpenses: Tenant shall pay the real estate taxes on a monthly basis, all utilities, HVAC and interior maintenance, and content and liability insurance. Landlord shall pay for the roof and parking lot maintenance, and the property insurance.
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