Paseo Covered RV Storage Ideal Location with Visibility and No Competition Offering Memorandum 7950 Jacs Ln. NE Albuquerque, NM 87113 PRICE REDUCED 6801 Jefferson St. NE, Suite 200 Albuquerque NM 87109 office 1 505 878 0001 www.iparealty.com Rich Diller, CCIM, SIOR Director Owner/Broker cell 505 249 7007 richd@iparealty.com
Confidential Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving from NAI Maestas & Ward and should not be made available to any other person or entity without the written consent of NAI Maestas & Ward. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NAI Maestas & Ward has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NAI Maestas & Ward has not verified, and will not verify, any of the information contained herein, nor has NAI Maestas & Ward conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Principals of property seller are licensed NM real estate brokers and is a Qualifying Broker for NAI Maestas & Ward; they are selling this property for their own account. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A NAI MAESTAS & WARD ADVISOR FOR MORE DETAILS. Offering Memorandum 2
Investment Highlights Investment Property Advisors is pleased to offer for sale Paseo Covered RV Storage located at 7950 Jacs Lane NE, in the high-demand North I-25 corridor of Albuquerque, New Mexico. The covered RV storage facility is positioned just west of I-25 and just south of Paseo del Norte in the Blue Sky Business Park. Interstate 25 has a traffic count of 128,400 vehicles per day at Paseo del Norte, and Paseo del Norte has a vehicle count of 70,900 vehicles per day at Edith Blvd. just west of the property. The facility includes 43,930 SF of net rentable area, 34,580 SF of which is standard covered RV storage space. The covered storage space is situated on about 2.3 acres of land zoned M-1 (Light Industrial) by the City of Albuquerque. The property is managed by an on-site manager who works out of a newly-renovated modular office. Access to the property is serviced by an automatic gate with keyfob remote control This investment benefits from an ideal location with visibility from a major thoroughfare, significant traffic counts and the ability for a new owner to increase rents because of lack of competition in the covered RV storage business in Albuquerque. Paseo Covered RV Storage 100 spaces totaling ±43,930 SF Located in ideal area of the city Facility features the best available hardware and software such as: PTI Gate systems SiteLink Management System Elite Gate Operator Geovision CCTV Camera Systems LED lighting Newly-built and completed in 2017 Easily managed Offering Summary Purchase Price $2,100,000 Net Operating Income $177,796 Cap Rate 8.5% Offering Memorandum 3
Operating Summary Amount $/SF INCOME Standard Covered, Covered Pull-Thru $208,836 0.47 Shaded, Garage $15,984 0.44 Outdoor, Outdoor Paved $7,188 0.40 Full Hookup Manager Space $4,548 TOTAL GROSS RENTAL INCOME $236,556 Vacancy: less 5% ($11,828) TOTAL RENTAL INCOME $224,728 EXPENSES Management $24,000 Utilities $5,640 Property Taxes $7,212 Office $1,500 Merchant Fees $2,976 Management Software Costs $1,500 Insurance $1,464 Repairs/Maintenance $2,640 TOTAL EXPENSES $46,932 NET OPERATING INCOME $177,796 Offering Memorandum 4
High-Altitude Aerial Darant Distribution Edith Blvd. Paseo del Norte OGB Architectural Millwork 70,900 Western Assurance Western Building Supply El Pueblo Rd. FedEx Home Delivery Matheson Tri-Gas Pacific Mutal Jefferson St. Safelite Auto Glass Supply One ABQ Moving & Storage 25 Holly Place Shops Paseo del Norte Holly Plaza Jacs Ln. SITE PNM Reeves Generating Station American Gypsum Pro Build Albuquerque Journal Legacy @ Journal Center 128,400 San Pedro Dr. Vista del Norte Shopping Center Major Home Improvement Center Journal Center Offering Memorandum 5
Property Context Universal Water System El Pueblo Rd. Paseo del Norte 70,900 Santa Fe Towing Jacs Ln. Paseo Covered RV Storage SITE Offering Memorandum 6
Photos Offering Memorandum 7
Demographics 1, 3 & 5 Miles Rio Rancho 528 Corrales SITE 25 Summary Population Households Families Average Household Size Owner Occupied Housing Units Renter Occupied Housing Units Median Age Trends: 2015-2020 Annual Rate Population Households Families Owner HHs Median Household Income Households by Income <$15,000 $15,000 - $24,999 $25,000 - $34,999 $35,000 - $49,999 $50,000 - $74,999 $75,000 - $99,999 $100,000 - $149,999 $150,000 - $199,999 $200,000+ 1 Mile 3 Mile 5 Mile 5,305 58,110 187,197 2,272 25,071 80,274 1,374 14,511 47,650 2.33 2.30 2.31 1,701 15,317 48,942 571 9,755 31,332 38.2 39.7 40.7 State State State 0.44% 0.44% 0.44% 0.41% 0.41% 0.41% 0.25% 0.25% 0.25% 0.43% 0.43% 0.43% 1.43% 1.43% 1.43% Number Percent Number Percent Number Percent 291 12.8% 3,458 13.8% 9,510 11.8% 177 7.8% 3,062 12.2% 8,670 10.8% 285 12.5% 2,946 11.8% 8,560 10.7% 283 12.5% 3,692 14.7% 10,429 13.0% 297 13.1% 3,959 15.8% 13,296 16.6% 293 12.9% 2,833 11.3% 9,877 12.3% 325 14.3% 2,964 11.8% 10,844 13.5% 216 9.5% 1,170 4.7% 4,783 6.0% 106 4.7% 987 3.9% 4,305 5.4% Median Household Income Average Household Income Per Capita Income Population by Age 0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ $56,665 $78,517 $33,233 Number Percent 372 7.0% 388 7.3% 360 6.8% 269 5.1% 245 4.6% 732 13.8% 897 16.9% 695 13.1% 678 12.8% 422 8.0% 186 3.5% 59 1.1% $46,746 $67,778 $29,274 Number Percent 3,418 5.9% 3,469 6.0% 3,461 6.0% 3,150 5.4% 3,539 6.1% 8,496 14.6% 7,254 12.5% 7,364 12.7% 7,834 13.5% 5,815 10.0% 2,980 5.1% 1,329 2.3% $54,079 $76,741 $33,025 Number Percent 10,087 5.4% 10,520 5.6% 10,932 5.8% 10,883 5.8% 12,213 6.5% 26,279 14.0% 22,295 11.9% 25,099 13.4% 26,795 14.3% 18,443 9.9% 9,428 5.0% 4,223 2.3% Offering Memorandum 8
City Overview Albuquerque, New Mexico Centrally-located at the intersection of I-25 and I-40, Albuquerque is the most populace city in New Mexico and one of the most livable cities in the U.S. The city rests at the foot of the Sandia Mountains, which peaks at 10,678 feet. The Rio Grande runs north to south, dividing the city into four major quadrants: northeast, northwest, southeast, and southwest. The city serves as a southwestern commercial hub, with BNSF Railroads rail service, air cargo shipped from the Albuquerque International Sunport, as well as the commuter train, the Rail Runner, spanning from Belen to Santa Fe. A talented workforce, a business-friendly environment, a community rooted in history and a quality of life make Albuquerque hard to beat. Albuquerque s economic environment is experiencing growth due in part to the city being the center of the New Mexico Technology Corridor. The largest employers located in Albuquerque include Kirtland Air Force Base, the University of New Mexico and Sandia National Laboratories. Recent economic news includes Comcast selecting Albuquerque for a 500-employee bilingual customer support center; Bendix/King a Honeywell aerospace company, also located its headquarters in Albuquerque, with 140 quality jobs; General Mills finished a $100 million expansion of its plant with more than 100 new employees; Lowes Home Improvement opened a $15 million customer support center in 2012. Because of these business developments and Albuquerque s great quality of life, Forbes Magazine named the city #1 in its survey of the best places in the USA for Business and Careers. For more information, visit www.abq.org. Demographics 2015 Forecasted by Esri Albuquerque metro population 908,252 Households 232,768 Median household income $48,792 Total expenditures & retail goods $5,109,676,173 Median sales $ of single-family homes (Q2) $179,200 Employed civilian population 257,643 Total businesses 31,066 ABQ retail vacancy 6.3% Offering Memorandum 9