555 Broadway Blvd NE - Office FOR SALE


Albuquerque, NM 87102- EDo
$13,300,000 USD
859-907-2006
555 Broadway Blvd NE, Albuquerque, NM for Sale
$13,300,000 USD
Office - FOR SALE
1/8
null | 8.75% Cap Rate

555 Broadway Blvd NE
Albuquerque, NM 87102
EDo


HIGHLIGHTS

  • Recently renewed 7-year / 5-firm (SSA) and 7-year (total w/options) / 5-year firm (BoR) leases
  • United States Government Lease (AA+ S&P Credit Rating)
  • Two Mission Critical Facilities With Significant Tenant Improvement and Building Security Systems Invested
  • 251 Parking Spaces (Including 6 Motocycle)
  • Well Maintained Masonry and Stucco Construction
  • Albuquerque’s Total Population - 562,599 (2021)

OVERVIEW

The Ficke Team of Colliers is pleased to present to qualified investors the opportunity to acquire the Bureau of Reclamation and the Social Security Administration located in Albuquerque, New Mexico. This 62,078 square foot multi-tenant office property is fully leased to both the Bureau of Reclamation (BoR) and the Social Security Administration (SSA) on recently renewed leases 5 and 7 year leases. The Bureau of Reclamation is best known for the dams, power plants, and canals it constructed primarily across 17 western states. Today, the Bureau of Reclamation is the largest wholesaler of water in the country; providing water to more than 31 million people and one out of five Western farmers (140,000) with irrigation water for 10 million acres of farmland that produce 60% of the nation’s The Bureau is also the second largest producer of hydroelectric power in the western U.S. The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant’s benefits are based on the wage earner’s contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need. SSA offers its services to the public through 1,200 field offices, a website, and a national toll-free number. Field offices, which served 43 million individuals in 2019, were reopened on April 7, 2022 after being closed for two years due to the COVID-19 pandemic.

FOR SALE DETAILS

PRICE

$13,300,000 USD

PRICE/SF

$214 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

253

LAND DETAILS

LAND ACRES

3.1 AC

LAND SF

135,036 SF

ZONING

-

APN/PARCEL ID

1-014-058-374019-4-04-02

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

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