555 Broadway BlvdAlbuquerque, NM 87102

For Sale
$13,300,000

Prime Govt Lease, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Albuquerque investment opportunity presents a fully leased, 62,078 square foot Class A office building, boasting a strong 8.75% cap rate. The property, constructed in 2003, comprises a single, two-story building situated on 3.1 acres and features a substantial 251-space parking lot (including six motorcycle spaces). Currently housing two tenants, the Bureau of Reclamation and the Social Security Administration, both are under recently renewed long-term leases; a 7-year lease with the SSA and a 7-year lease with the BoR (including options for a further 5 years). These mission-critical facilities benefit from significant tenant improvements and robust security systems. The building itself is meticulously maintained, showcasing durable masonry and stucco construction. Located at 555 Broadway Blvd NE, Albuquerque, NM 87102, this institutional-grade investment offers exceptional stability and return, backed by the AA+ S&P credit rating of the United States Government. The property's 100% occupancy ensures immediate cash flow, making it an attractive proposition for discerning investors seeking a secure and high-yielding asset in a growing market. The Albuquerque metropolitan area's population of 562,599 (2021) further underscores the property's strategic location and long-term potential.

Highlights

  • 62,078 SF multi-tenant office building, fully leased to the Bureau of Reclamation and Social Security Administration.
  • Recently renewed 7-year lease (SSA) and 7-year lease (BoR, with options)/5-year firm lease (BoR).
  • United States Government lease (AA+ S&P credit rating).
  • Two mission-critical facilities with significant tenant improvements and security systems.
  • 251 parking spaces (including 6 motorcycle spaces).
  • Well-maintained masonry and stucco construction; located in Albuquerque, NM.

Property Details for 555 Broadway Blvd

Property type
Other office properties, Office properties
Class
A
Year Built
2003
Buildings
1
Stories
2
Lot Size (sq. ft)
135,036 SF

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.0880946
Longitude
-106.6444324
555 Broadway Blvd, Albuquerque, New Mexico

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555 Broadway Blvd
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