• Year Built: 1986
5620 Modesto Ave Ne is an industrial property for lease in Albuquerque, NM.
Freeway visible building +excess land in redeveloping North I-25 corridor – located just south of I-25 Studios, just north of the CNM training and east of the balloon fiesta with Interstate 25 visibility to over 69,600 cars per day.
Offered for the first time since it was developed by the original owner, this property offers a unique opportunity for an investor looking for stable cash flow from (mostly) national tenants, or a developer who would like to take advantage of redevelopment trends of Class A office or apartments in the immediate area.
2014 MAI appraisal of $2.65M, 2015 Phase I environmental indicated no issues.
71% of the income for the property is derived from national tenants including cell phone towers and billboard income. Owner is willing to selling excess land separately from the improvements - 9.13% Cap for improvements/cell phone/billboard, and 5.48% Cap for the entire deal.