Newport I, II & III

2600 & 2650 Yale Boulevard SE & 2350 Alamo Ave Albuquerque, NM 87106

FOR SALE

Property Type:

Government/Municipalities

Amount:

$4,987,066

Last Verified:

Jun 13, 2024

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Highlights

ALL TENANTS ARE AFFILIATES OF THE U OF NEW MEXICO MEDICAL SYSTEM
BLDG 1-24,480 SF LEASED TO UNMM SINCE 2013-RENEWS 9/2031
BLDG 2-23,286 SF LEASED TO UNMM SINCE 2001- RENEWS 7/2028
BLDG 3-28.09%-22,384 SF LEASED TO UNMM SINCE 2007-RENEWS 6/2026
BLOCKS FROM UofM and UNIVERSITY OF NEW MEXICO HOSPITAL CAMPUS
TREMENDOUS UPSITE-CONVERT GROSS TO NET LEASES ON RENEWAL

Description

Medical office Buildings leased to The University of New Mexico Hospital System adjacent to Albuquerque International Airport.
12% Vacancy Upside
25% Rental Upside

Located in Opportunity Zone, Adjacent to Albuquerque International Airport
The economy of Albuquerque, New Mexico is mainly driven by its aerospace & defense industry, with companies such as Boeing and Lockheed Martin having a significant presence in the area. The city has also seen growth in renewable energy and technology-related startups, creating job opportunities for local residents. The largest industries in Albuquerque are Health Care & Social Assistance, Retail Trade, and Educational Services. The city’s unemployment rate is 7.4%, and future job growth over the next ten years is predicted to be 34.5%

Year Built: 1975

Building Size: 79683sq ft

Building Class: B

Lot Size: 6.07 acres