7900 Lorraine Court NE Ste E, Albuquerque, NM 87113
sale
$1,217,200
|
Other
Courtesy Of New Mexico Properties/Allstar, REALTORS
OWNER-USER PATH: Occupy Suite F and let Suite E's in-place NNN rent cover approximately 56% of the loan payment. The estimated net ownership cost is $3,301 per month, which is less than leasing one suite at $13.50/SF NNN, or approximately $3,423 per month--while gaining ownership of both suites. The owner-user can then expand into Suite E when its lease rolls. Two adjoining, fully renovated office/warehouse condominiums offered together as one package. Suite E is leased to an in-place NNN tenant, while Suite F is vacant and move-in ready. An owner-user can occupy Suite F, allow Suite E's rent to offset the cost of ownership, and expand into Suite E when its lease rolls. An investor can lease Suite F and hold both suites as a stabilized NNN asset. Each suite features a two-level office, high-ceiling warehouse, drive-in door, heavy 3-phase power, and its own gated, paved yard. The property is located less than one mile from Paseo del Norte and I-25, within one of Albuquerque's highest-occupancy, lowest-crime business corridors. INVESTOR PATH: Lease Suite F at the $13.50/SF NNN asking rate and hold both suites as a stabilized NNN investment with a 7.56% pro forma cap rate.
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Property Features
- Floors: 2
- Legal Description: Unit E Of 7900 Lorraine Court Ne Condominiums Together With An Equal Undivided Interest In The Common Elements
- MLSID: 1113436
- Parking Spaces: 6
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