SALE PRICE: $1,195,000 ($29.64/SF) Building Size: +/- 40,327 SF Property Size: 4.15 Acres Features: - Ideal for Investor or Owner/User - Absolute NNN Leased Through 5/21/2021 - Potential Tenant Buyout Opportunity - Significantly Below Replacement Cost - Excellent Access & Visibility - Fully Improved Property - Successful retail location - $300k+ in remaining Income Alfredo Barrenechea 505-401-0135 [email protected]Redevelopment Opportunity – Former Kmart with Income 1235 2nd Street, Raton, NM 87740 Absolute Investment Realty | 105 Jefferson NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]Store Closing 04-08-2018 Lease Type: Absolute NNN Lease Term: 4 Years Cap Rate: 10.50% NOI: $125,500
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Redevelopment Opportunity Former Kmart with Income › pdfs › Raton-NM---Kmart-Redevelopment.pdf · property is currently leased and occupied by Kmart. Though the property has been
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Absolute Investment Realty has been selected as the exclusive representativeof the owner of this reposition opportunity in Raton, New Mexico. The
property is currently leased and occupied by Kmart. Though the property hasbeen continuously operated by Kmart since it opened it’s doors in 1979, andthe tenant has recently renewed its lease through 05/31/2021, SearsHoldings, Kmart’s parent corporation has announced it will be closing thislocation on April 8, 2018.
The vacation of Kmart will leave a huge market gap, resulting in a potentialfantastic opportunity for the future owner and user of this property. Thetenant remains responsible for it’s lease obligations including rent and
property maintenance through 05/31/2021, presenting the buyer of thisproperty with an opportunity to potentially negotiate a buyout of the leaseand reposition and re-let the property for a higher rent rate. At $29.63/SF,this property also is priced well below replacement value helping to reducethe buyer’s risk and allow for a multitude of future tenant’s and uses.
The information contained in this marketing package is believed to be reliable. While wedo not doubt the accuracy, we have not verified it and make no guarantee, warranty orrepresentation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Additionally, this package and the information contained herein is intendedonly for parties with a bonified interest in the lease or purchase of this property and shouldnot be distributed otherwise.
Absolute Investment Realty | 105 Jefferson NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Redevelopment Opportunity – Former Kmart with Income 1235 2nd Street, Raton, NM 87740
LOCATION DESCRIPTIONThe property is located along South 2nd Street just off I-25 in the northern New Mexico town of Raton. South 2nd Street is a primary retail corridor in Raton and is easily accessible
from all locations of the town as well as Interstate 25. Raton, bordering Colorado, is the northern most town on I25 in New Mexico, is a major interstate traffic stop, and serves a
large rural community in state as well as in Colorado. This property is the only big box retailer in this trade area of New Mexico and has been a shopping destination for goods and
supplies for the people living in the surrounding communities for nearly 40 years. Although the tenant has a long history of operating at this property, the asset’s pricing, location,
signage, parking, and access make it an ideal candidate for repositioning to lease or sell to a number of other national, local and regional tenants.
Raton, NM MSARaton, New Mexico, meaning little mouse in Spanish, is located in northernpart of the state just 6 miles from Colorado state border. Raton offers manyamenities for a comfortable rural lifestyle. Raton has a variety of outdoorrecreation activities with it’s crisp mountain air and breathtaking views.Raton offers Amtrak service, a municipal airport, a state-of-art medicalcenter. Raton is also near the Capulin Volcano National Monument andRaton Pass, which is located just north of the city is a historical landmarkfor the Santa Fe Trail and the gateway to Colorado. The pass is at a 7,881summit which cuts through the Sangre de Cristo mountains and isaccessible today by Interstate 25.
New Mexico, the land of enchantment, is located in the southwesternUnited States bordering Colorado, Arizona, Texas and Utah. Santa Fe is thestate capital and is world famous tourist destination. New Mexico isfamous for its beautiful scenery and wide variety of terrain, which offers avariety of outdoor activities including world class skiing and mountainbiking. The world famous Albuquerque International balloon fiesta ishosted every year in Albuquerque and is the largest event of its kind in theworld attracting each year and attracts millions of people from around theworld.
Absolute Investment Realty | 105 Jefferson NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Alfredo Barrenechea
Qualifying Broker
Alfredo specializes in the acquisition and disposition ofinvestment real estate and has experience in closing largeindustrial, office, and hospitality transactions. With over 12years of experience in the commercial real estate industry asa developer, landlord and broker Alfredo has worked withnation’s top tenants, investors and real estate investmentcompanies. Alfredo has a passion for helping his clients meettheir real estate investing goals and excels at closingcomplicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from theUniversity of New Mexico and is a member of CARNM andICSC.
Some of Alfredo’s Recent Transactions
Alfredo consistently achieves the Coveted Costar Power Broker award, which is only given to the top 5 brokers in the state.
Who We AreAbsolute Investment Realty is an investment oriented commercialreal estate brokerage firm focused on helping our clients meettheir commercial real estate investment goals. Our clients rangefrom private local investors to multi-national REITs. We haveclosed transactions throughout the United States and have clientsfrom around the world. No job is too small or too large for ourdedicated team of professionals. We are experts on currentmarket conditions and can advise our clients on the best pricingand buying or selling strategies. We have industry wideconnections and make it a policy to work hand in hand with ourpeers, principals and institutions to get the deal done. We aresecond to none in our ability to identify, sell or lease investmentquality real estate.
Our MissionAbsolute Investment Realty’s mission is to help our clientsachieve their commercial real estate goals.
Our firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.
We start by understanding your needs and work closely with youdevelop a customized acquisition, disposition or developmentplan designed to help you reach your goals as expeditiously aspossible.
Awarded to the top 5 brokerage firms in NM, AbsoluteInvestment Realty has achieved the coveted Costar Power BrokerAward every year we’ve been in business.
Redevelopment Opportunity – Former Kmart with Income 1235 2nd Street, Raton, NM 87740
This is a confidential marketing package indented solely for the reader’suse in determining its desire to express further interest in the lease orpurchase of this property. Additionally, this package and the informationcontained herein is not for public distribution and is intended only forparties with a bonified interest in the lease or purchase of this propertyand should not be distributed otherwise.
The information contained in this marketing package is believed to bereliable. While the broker does not doubt the accuracy, it has notverified it and the broker and property owner make no guarantee,warranty or representation about it. It is the reader’s responsibility toindependently confirm its accuracy and completeness. All financialinformation contained herein is provided as a general reference andshould not be treated as fact, but should be independently verified bythe reader of this material.
By receipt of this marketing package, the reader agrees to keep thispackage and all material contained herein strictly confidential andagrees to destroy or return this package to Absolute Investment Realtyupon the readers determination it has no interest in leasing orpurchasing the property. Additionally, the information contained hereinis not be utilized to the detriment of the property owner, AbsoluteInvestment Realty or its associated brokers, any tenant(s) of theproperty, or any other party affiliated with the property.
The reader will not contact or approach the tenant(s) or operator(s) ofthe property, if any, without the express written permission of theproperty owner.
The property owner has absolutely no obligation to sell or lease theproperty to any person or entity regardless of proposed pricing orterms. Additionally, the property owner reserves the right, in it sole andabsolute discretion, to reject any or all offers or expressions of interestto purchase or lease the property..
Absolute Investment Realty | 105 Jefferson NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]
Redevelopment Opportunity – Former Kmart with Income 1235 2nd Street, Raton, NM 87740