September 30, 2022 – Patrick Gray and Steven Schiavello of Horvath & Tremblay have successfully completed the sale of Advance Auto Parts in Albuquerque, New Mexico. Horvath & Tremblay exclusively represented the seller to complete this transaction at a sale price of $2,584,377.
Advance Auto Parts is located at 2807 San Mateo Boulevard NE in Albuquerque, New Mexico. Constructed in 2016, Advance Auto Parts has 8+ years remaining on their Modified Triple Net lease with three (3), 5-year renewal options. The lease features an attractive 10% rent increase at the start of each of their renewal options. The Property is situated at the corner of Claremont Avenue and San Mateo Boulevard, one of the area’s primary retail and commercial thoroughfares. The Property sees more than 32,600 vehicles per day at the intersection and enjoys outstanding visibility and access with points of entry on both roadways. The Property is 0.6-miles from Interstate 40, less than 2-miles from several area schools including the two large high schools, 2.7-miles from Interstate 25/US Highway 85, and is only 3-miles from the University of New Mexico.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.