candelaria business center offering office/warehouse/flex ...€¦ · cole flanagan, cpa, mba cell...

Jake Mechenbier cell 505 917 5514 [email protected]

Office/Warehouse/FlexValue-Add Opportunity | 50% Occupied | Well Below Replacement Cost

Candelaria Business Center

6801 Jefferson St. NE, Suite 200 | Albuquerque NM 87109 office 1 505 878 0001 | www.IPArealty.com

3401-3451 Candelaria Rd. NE | Albuquerque, NM 87107

A division of NAI Maestas & Ward

OfferingMemorandum

Cole Flanagan, CPA, MBAcell 505 235 7585 [email protected]

Presented by

Offering Memorandum | 2A division of NAI Maestas & Ward

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving from NAI Maestas & Ward and should not be made available to any other person or entity without the written consent of NAI Maestas & Ward. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

NAI Maestas & Ward has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NAI Maestas & Ward has not verified, and will not verify, any of the information contained herein, nor has NAI Maestas & Ward conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A NAI MAESTAS & WARD ADVISOR FOR MORE DETAILS.

ConfidentialDisclaimer


InvestmentHighlights

Investment Property Advisors is pleased to offer Candelaria Business Center located at 3401, 3411, and 3451 Candelaria Rd. NE in Albuquerque, NM. The business center is located immediately west of the intersection of Carlisle Blvd. and Candelaria Rd. with convenient access to both Interstate 25, which is about one mile west of the business center, and Interstate 40, which is about one mile south. The property offers tremendous visibility and exposure from Candelaria Rd. with over 17,800 cars per day.

The approximately 43,233 sq. ft. business center is situated on about 3.6 acres. The business center is comprised of three separate buildings. The property features a strong mix of tenants and most of the leases have annual rental increases.

Candelaria Business Center is about 50% occupied and offers a tremendous amount of upside through lease-up. Currently there is approximately 21,824 sq. ft. of available space. This could be an investment but also has owner-user potential given the vacancy. The business center has been institutionally managed and there have been many recent capital expenditures performed at the buildings, totaling over $250,000 in the last four years alone.

This investment benefits from the current tenancy and value-add component through lease-up. In addition, Candelaria Business Center affords someone the opportunity to purchase an asset well below replacement cost. The large upside combined with minimal downside risk at a low price per square foot, makes this property an opportunity on which an investor can capitalize.

� Call For Offers - January 31, 2019

� Value-Add Opportunity - 50% occupied business park with a tremendous amount of upside potential through lease-up - ±21,824 SF of available space - Sprinklered buildings - Separately metered gas and electric

� Opportunity to purchase an asset well below replacement cost

� Investment or owner-user potential

� Historically strong performing asset

� Insitutionally managed asset - Well maintained buildings - Recent large capital expenditure items performed (Over $250,000 within the last four years)

� Most of the leases feature annual rental increases

� Staggered lease rollovers

� Desirable location - Located one block west of the intersection of Carlisle Blvd. and Candelaria Rd. - Convenient interstate access - about one mile east of Interstate 25 and less than one mile north of Interstate 40

� Excellent visibility - Visibility and exposure from Candelaria Rd. with over 17,800 cars per day

� Zoning: NR-C

Offering Summary

Purchase Price Call For Offers January 31, 2019

Net Operating Income (As Is*) $68,252

Net Operating Income (Stabilized**) $207,374

Building Size ±43,233 Sq. Ft.

Land Size ±3.6 Acres

CANDELARIA BUSINESS CENTER Office/Warehouse/Flex

103,000+ Population within a 3-mile radius of site

$59,000+ Average Household Income

in a 3-mile radius

*Current occupancy is 50% ** Assumptions based on 85% occupancy

Square Footage: ±43,233 SF

Amount $ / SF

Current Projected Rent (50% Occupancy) $218,920 5.06

Estimated Expense Reimbursements $11,820 0.27

GROSS SCHEDULED INCOME $230,740 5.33

Estimated Operating Expenses

Utilities - Electric $4,352 0.10

Utilities - Electric (Vacant Units) $7,500 0.17

Utilities - Gas (Vacant Units) $2,033 0.05

Utilities - Water $12,377 0.29

Utilities - Sewer $5,942 0.14

Utilities - Refuse $11,077 0.26

Window Washing $413 0.01

Landscaping $12,600 0.29

HVAC $7,873 0.18

Security/Alarm $15,239 0.35

Grounds & Parking $5,428 0.13

General Building Maintenance $21,534 0.50

Non Pass Through General Building $1,516 0.04

Property Management (5% + NMGRT) $12,446 0.29

Property Taxes $36,531 0.84

Insurance $5,626 0.13

TOTAL OPERATING EXPENSES $162,487 3.76

NET OPERATING INCOME $68,252 1.57

Candelaria Business Center - As Is


OperatingSummary

Square Footage: ±43,233 SF

Amount $ / SF

Projected Rent (100% Occupancy) $437,160 10.11

Estimated Expense Reimbursements $11,820 0.27

PROJECTED GROSS SCHEDULED INCOME $448,980 10.38

Vacancy Factor (15%) $(67,347) (1.56)

ADJUSTED GROSS INCOME $381,633 8.82

Estimated Operating Expenses

Utilities $43,281 1.00

Window Washing $413 0.01

Landscaping $12,600 0.29

HVAC $7,873 0.18

Security/Alarm $15,239 0.35

Grounds & Parking $5,428 0.13

General Building Maintenance $21,534 0.50

Non Pass Through General Building $1,516 0.04

Property Management (5% + NMGRT) $24,217 0.56

Property Taxes $36,531 0.84

Insurance $5,626 0.13

TOTAL OPERATING EXPENSES $174,259 4.03

NET OPERATING INCOME $207,374 4.79

Candelaria Business Center - Stabilized*OperatingSummary


* Assumptions based on 85% occupancy

Key Tenant Profiles


Opti Health, Inc has been in business since 1988 and offers multiple residential care homes across Albuquerque. The company is a group home operator that prides itself on taking care of their residents.

Opti Health, Inc.

At Home Advocacy was founded in 2008 and is a family owned and operated business. The company is committed to providing individuals with special or elderly care needs and their caregivers impeccable service, support and resources to reach an optimal quality of life. They strive to make sure that everyone they support lives a happy, healthy, and meaningful life.

At Home Advocacy, Inc.

Comanche Nation Construction was established in 2009 and is a fast growing general contractor for all types of construction, operations, and maintenance activities. The company has three locations and their corporate office is located in Oklahoma City, OK. The company specializes in Federal Government contracting and is able to provide services to the US Government for diverse construction projects. The company currently performs projects in New Mexico, Oklahoma, Arkansas, Kansas, and Ohio.

Comanche Nation Construction

Mothers Against Drunk Driving is a nonprofit organization in the United States and Canada that seeks to stop drunk driving, support those affected by drunk driving, prevent underage drinking, and strives for stricter impaired driving policy. MADD has local offices across the country where people can donate, volunteer, and take action in that chapter.

Mothers Against Drunk DrivingKesselman-Jones, Inc is a

communications firm that specializes in conference and event management. The firm is centered on the principle that the services they provide will enhance the well-being of our communities. The company is in their third decade of producing and managing learning experiences, trainings, conferences, and special events. Typically these events range in size from 40-1,500 attendees.

Kesselman-Jones, Inc.

CMS Investments Management (Sauced ABQ) is a meal prep delivery and catering company. The company provides chef inspired healthy, delicious meals delivered directly to their customers’ door steps.

CMS Investments Management (Sauced ABQ) Lane Brothers, LLC (Southwest

Grape & Grain) is a full service home brewing, winemaking, and cheese making supply shop. In addition to being one of New Mexico’s largest suppliers of equipment and supplies, the company offers informative seminars from beginner to advanced. The store is open seven days a week.

Lane Brothers, LLC (Southwest Grape & Grain)

C&B Homecare, Inc (Visiting Angels) offers in-home care services for the elderly. Visiting Angels was founded in 1998 and has franchised agencies throughout the country. Their service coordinators are trained to create a personalized plan and the company customizes their services to meet all of their clients care needs.

C&B Homecare, Inc. (Visiting Angels)

Montgomery Blvd.

CPD 162,400

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McKinley Middle School

Governor BrentElementary School

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PJ’s Express Coronado Mall

CPD

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CPD 17,200

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CPD 16,500CPD 17,800

CPD 198,600

CPD 1

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CPD 192,800

CPD 191,900

CPD 15,500

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TradeAerial

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S I T E

TJ Hardware


SiteAerial


PropertyPhotos

A division of NAI Maestas & Ward Offering Memorandum | Offering Memorandum | 12A division of NAI Maestas & Ward

AlbuquerqueMETRO AREATrade Area Analysis

Albuquerque | Why Here? Why Now?Located near the geographic center of New Mexico at the intersection of I-25 and I-40 and resting at the foot of the Sandia Mountains, Albuquerque is the state’s most populous city and one of the most livable in the U.S. The city serves as a major transportation and shipping hub for the Southwest, with BNSF Railway, air cargo from Albuquerque International Sunport airport, and a commuter train running from Belen to Santa Fe. Albuquerque is home to the International Balloon Fiesta, the world’s largest gathering of hot-air balloons. A talented workforce, a business-friendly environment, a community rooted in history and a high quality of life make Albuquerque hard to beat.

ALBUQUERQUE HEALTHCARE. Is the center of health care excellence in NM. University of NM is a nationally recognized Class 1 research institution. There are 1,943 licensed hospital beds in metro area

Top 8 Reasons to choose Albuquerque

Invest in Albuquerque� Low-Risk Location

� Skilled Workforce

� Business Incentives

� The Metro Area Communities

� Quality of Life

� Cost of Living

� Innovation Central

� On the cutting edge of Technology

UTAH

TEXAS

OKLAHOMA

COLORADO

ARIZONA40

25

Santa FeAlbuquerque

Las Cruces Albuquerque

Bernalillo

Albuquerque Metro

Rio Rancho

Los Lunas

Belen

40

40

25

Albuquerque City

Albuquerque

25

New Mexico

Albuquerque City by the numbers (ESRI 2017 Demographics)

653,761 City Population

$67,029 Average Household Income

261,158 Households

$40,404 Median Disposable Income

27,083 Total Businesses

368,764 Total Employees

922,914 Albuquerque

Meto Population

The Largest

City in the State

ALBUQUERQUE EDUCATION | SKILLED WORKFORCE Ranks top in nation for cities with the most college graduates, 69,000 college students reside in metro area, has one of the largest # of PhDs per capita in the nation

COMPETITIVE BUSINESS CLIMATE Low energy costs, low property taxes, affordable real estate and cost of living, a qualified/productive workforce, aggressive incentives, efficient market access

Ranked 6th in America’s favorite cities list - Travel + Leisure

Ranks among America’s best cities for global trade - Global Trade Magazine

The 5th most cost-friendly city to do business in the U.S. - KPMGIn the news

candelaria business center offering office/warehouse/flex ...€¦ · cole flanagan, cpa, mba cell...

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