3402 10th Ave Nw is aland property for lease in Rio Rancho, NM.
National/global credit tenant in place on long-term ground leases with many lease extension options. Property owner pays minimal property taxes, otherwise the property is 100% free of landlord responsibilities.
Current annual income is 27,900.00.
3% annual increase on 1/1/16 and continues throughout the lease and all extensions. Final lease extension terms expire on 1/20/2071.
Property owner may keep the property as-is or further develop the vacant portion of the land for more upside.