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CVS Pharmacy 1001 Rio Rancho Blvd SE

15,261 SF Retail Building Rio Rancho, NM 87124 $1,511,000 ($99/SF) 6.25% Cap Rate

Retail Buildings New Mexico Rio Rancho 1001 Rio Rancho Blvd SE, Rio Rancho, NM 87124

Investment Highlights

  • Single-Tenant Net-Lease CVS (Leasehold Interest)
  • Long-term underlying ground lease with options extending out to the year 2050
  • Investment grade tenant
  • About 13 years of firm lease term remaining with CVS
  • Low rental rates on CVS and underlying ground lease
  • Highest trafficked intersection in Rio Rancho; Hard corner, signalized intersection

Executive Summary

Flanagan Investment Real Estate is pleased to offer for sale a single tenant, net-lease, leasehold interest CVS.? About 13 years remain on the lease term with CVS.? The asset is located at 1001 New Mexico Hwy 528, in Rio Rancho, New Mexico.? This is a hard corner, signalized intersection at Rio Rancho’s highest trafficked intersection with over 59,600 cars per day.? The property ‘s neighboring tenants include Walmart Neighborhood Market, Smith’s, Murphy Express and Popeyes among many others.? Rio Rancho which is part of the Albuquerque MSA is one of the fastest growing cities in New Mexico.?
The approximately +/- 14,213 sq.? ft.? building is situated on about 1.13 acres.? CVS has operated at this location since 2009.? The lease with CVS and the underlying ground lease feature low rental rates.? The property features a long-term underlying ground lease with options extending out to the year 2050.?
CVS is an investment grade tenant with a credit rating of BBB.? CVS is the largest pharmacy chain in the United States by number of locations and prescription revenue.? CVS has performed strong with 2021 revenues over $292 billion which are 8.7% higher than the prior year.?
This investment benefits from the lease structure, long-term lease with CVS and underlying ground lease, and its exceptional location.? The site sits at the most trafficked intersection in Rio Rancho.? The low price point and rental rates minimize downside risk.? The passive nature of the lease combined with the strong real estate fundamentals make this property an opportunity on which an investor can capitalize for the foreseeable future.?

Attachments

OM - CVS - Rio Rancho, NM

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,261 SF
Building Class
C
Year Built
2010
Price
$1,511,000
Price Per SF
$99
Cap Rate
6.25%
NOI
$94,424
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.13 AC

Amenities

  • Pylon Sign
  • Signalized Intersection
  • Drive Thru

Links

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Walk Score ®
Very Walkable (71)
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Nearby Major Retailers

Bank of Albuquerque
Starbucks
Natural Grocers
Bank of Montreal
Jazzercise
Dutch Bros
PNC Bank
Blake's LotaBurger
Walmart Neighborhood Market
Smith's

PROPERTY TAXES

Parcel Number 1-013-068-469-332 Improvements Assessment $1,568,709
Land Assessment $91,751 Total Assessment $1,660,460

PROPERTY TAXES

Parcel Number
1-013-068-469-332
Land Assessment
$91,751
Improvements Assessment
$1,568,709
Total Assessment
$1,660,460
(505) 235-7585

Contact

  • Listing ID: 25580167

  • Date on Market: 4/28/2022

  • Last Updated:

  • Address: 1001 Rio Rancho Blvd SE, Rio Rancho, NM 87124

More public record information on 1001 Rio Rancho Blvd SE, Rio Rancho, NM 87124

The Retail Property at 1001 Rio Rancho Blvd SE, Rio Rancho, NM 87124 is currently available for sale. Contact Flanagan Investment Real Estate for more information.

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1001 Rio Rancho Blvd SE, Rio Rancho, NM for sale Building Photo- Image 1 of 9
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CVS Pharmacy | 1001 Rio Rancho Blvd SE
(505) 235-7585 x

CVS Pharmacy | 1001 Rio Rancho Blvd SE

Cole Flanagan

(505) 235-7585

(505) 235-7585

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