3811 Commons Ave NE - Medical FOR SALE


Albuquerque, NM 87109
$2,848,000 USD
408-510-9057
3811 Commons Ave NE, Albuquerque, NM for Sale
$2,848,000 USD
Medical - FOR SALE
1/3
null | 6.28% Cap Rate

3811 Commons Ave NE
Albuquerque, NM 87109


HIGHLIGHTS

  • ±7 Years Remaining on Established NN Lease with Two (2) Five-Year Renewal Options at 95% FMV
  • Scheduled 2% Annual Rent Increases Throughout Remaining Lease Term
  • Corporate Concentra Health Services, Inc. as Tenant, Subsidiary of NYSE-Listed Parent (CON)
  • Nation's Largest Occupational Health Provider with 1,000+ Locations and $2.2B in Annual Revenue
  • North I-25/Journal Center Location with ±172,606 VPD on Interstate 25
  • 13,000+ Employee Journal Center Employment District Driving Occupational Healthcare Demand

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Concentra Urgent Care facility located at 3811 Commons Ave NE in Albuquerque, New Mexico, within the established Journal Center employment district. The ±11,900-square-foot medical facility sits on ±1.37 acres and is secured by a NN lease with ±7 years remaining and two (2) five-year renewal options at 95% of fair market value. The lease generates $178,818 in annual base rent ($14,901/month) at a 6.28% cap rate, with scheduled 2% annual rent increases providing consistent income growth throughout the remaining primary term. The tenant, Concentra Health Services, Inc., is a corporate subsidiary of Concentra Group Holdings Parent, Inc. (NYSE: CON), the nation's largest occupational health provider, operating 1,000+ locations nationwide with $2.2 billion in annual revenue and 13.5 million patient visits annually. The property is positioned within Albuquerque's North I-25/Journal Center corridor, one of the city's largest employment concentrations with 13,000+ employees, offering proximity to Interstate 25 (±172,606 VPD) and Singer Blvd NE (±7,580 VPD). The surrounding trade area features the @25 Shopping Center and national retailers including Costco, Sam's Club, REI, PetSmart, and Whole Foods. The 5-mile radius holds 244,139 residents with an average household income of $109,466. Albuquerque anchors New Mexico's largest MSA with 932,071 residents, supported by major employers including Sandia National Laboratories, Kirtland Air Force Base, Intel, and the University of New Mexico, pairing stable occupational healthcare demand with long-term net-lease income.

FOR SALE DETAILS

PRICE

$2,848,000 USD

PRICE/SF

$253 USD /SF

CAP RATE

6.28%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Concentra Urgent Care | ±7-Yr NN | Albuquerqu

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.37 AC

LAND SF

59,677 SF

ZONING

NR-BP

APN/PARCEL ID

1-017-061-032486-2-05-01

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.