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Grocery Store

Natural Grocers

NM-528, Rio Rancho, NM 87124

Listing Price: $5,539,000

Cap Rate
6.00%
Tenant Name
Natural Grocers
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
13,847
Lease Type
Absolute Net
Rent Per Square Feet
$24.00

Investment Overview

AFFLUENT & GROWING ALBUQUERQUE SUBURB
• The subject property is located in Rio Rancho, an affluent and growing suburb 25 minutes north of downtown Albuquerque on Hwy 528 (24,410 VPD)
• The 5 mile population is 137,886 with 10.31% growth and an average household income of $99,204.
• Albuquerque is the most populous city in NM and is the fourth largest city in the southwest with 572,864 residents.
• The city is New Mexico’s leading economic center, accounting for half the state’s economic activity.
• The economy is highly diversified, centering on science, medicine, technology, commerce, education, media entertainment, culture (particularly fine arts); construction, film production, and retail.

PRIMARY RETAIL CORRIDOR | 3.1M SF OF RETAIL IN 1.5 MILE RADIUS
• Located on the primary retail corridor in Rio Rancho with 3.1M SF of retail in a 1.5 mile radius.
• 2 miles from Cottonwood Corners, a dense retail pocket with national retailers including Walmart, Lowe’s Home Improvement, Home Depot, Costco, Cottonwood Mall, and more.

1 MILE FROM INTEL CORPORATION’S 330K SF MANUFACTURING FACILITY
• The property is 1 mile away from Intel Corporation’s 330,000 SF manufacturing facility that has over 2,100 employees.
• In 2021, Intel Corp. invested $3.5 Billion to expand this facility and has since added 1,700 jobs to this location.
• The facility has a $1.2 Billion annual impact on the economy in Rio Rancho.

12-YEAR CORPORATE NNN LEASE
• There are 12 years remaining on a 15 year NNN lease corporately guaranteed by Natural Grocers (Vitamin Cottage Natural Food Markets, Inc.)
• Tenant is 100% responsible for all expenses including taxes, insurance, parking lot, roof, and structure.
• The rent increases 4.16% in Year 6 and 6% in Year 11 of the primary lease term.
• There are 8% rent increases in each of the Five, 5-year option periods.

EXPANDING GROCERY TENANT WITH FINANCIAL GROWTH
• There are 12 years remaining on a 15 year NNN lease corporately guaranteed by Natural Grocers (Vitamin Cottage Natural Food Markets, Inc.)
• In 2022, the company reported a total revenue of $1.1B (3.2% YoY growth) and a net income of $21.4M (3.8% YoY growth)
• Daily average comparable store sales increased 2.6% which marks the 19th consecutive year of positive comparable store sales growth for the company

Investment Highlights

  • Affluent & Growing Albuquerque Suburb
  • Primary Retail Corridor | 3.1M SF Of Retail In 1.5 Mile Radius
  • 1 Mile From Intel Corporation's 330K Manufacturing Facility
  • 12-Year Corporate NNN Lease
  • Expanding Grocery Tenant With Financial Growth

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s) NM: 20675

    New Mexico

Financing By

Grocery Store

Natural Grocers

Listing Price: $5,539,000

Cap Rate
6.00%
Tenant Name
Natural Grocers
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
13,847
Lease Type
Absolute Net
Rent Per Square Feet
$24.00

Investment Highlights

  • Affluent & Growing Albuquerque Suburb
  • Primary Retail Corridor | 3.1M SF Of Retail In 1.5 Mile Radius
  • 1 Mile From Intel Corporation's 330K Manufacturing Facility
  • 12-Year Corporate NNN Lease
  • Expanding Grocery Tenant With Financial Growth

Investment Overview

AFFLUENT & GROWING ALBUQUERQUE SUBURB • The subject property is located in Rio Rancho, an affluent and growing suburb 25 minutes north of downtown Albuquerque on Hwy 528 (24,410 VPD) • The 5 mile population is 137,886 with 10.31% growth and an average household income of $99,204. • Albuquerque is the most populous city in NM and is the fourth largest city in the southwest with 572,864 residents. • The city is New Mexico’s leading economic center, accounting for half the state’s economic activity. • The economy is highly diversified, centering on science, medicine, technology, commerce, education, media entertainment, culture (particularly fine arts); construction, film production, and retail. PRIMARY RETAIL CORRIDOR | 3.1M SF OF RETAIL IN 1.5 MILE RADIUS • Located on the primary retail corridor in Rio Rancho with 3.1M SF of retail in a 1.5 mile radius. • 2 miles from Cottonwood Corners, a dense retail pocket with national retailers including Walmart, Lowe’s Home Improvement, Home Depot, Costco, Cottonwood Mall, and more. 1 MILE FROM INTEL CORPORATION’S 330K SF MANUFACTURING FACILITY • The property is 1 mile away from Intel Corporation’s 330,000 SF manufacturing facility that has over 2,100 employees. • In 2021, Intel Corp. invested $3.5 Billion to expand this facility and has since added 1,700 jobs to this location. • The facility has a $1.2 Billion annual impact on the economy in Rio Rancho. 12-YEAR CORPORATE NNN LEASE • There are 12 years remaining on a 15 year NNN lease corporately guaranteed by Natural Grocers (Vitamin Cottage Natural Food Markets, Inc.) • Tenant is 100% responsible for all expenses including taxes, insurance, parking lot, roof, and structure. • The rent increases 4.16% in Year 6 and 6% in Year 11 of the primary lease term. • There are 8% rent increases in each of the Five, 5-year option periods. EXPANDING GROCERY TENANT WITH FINANCIAL GROWTH • There are 12 years remaining on a 15 year NNN lease corporately guaranteed by Natural Grocers (Vitamin Cottage Natural Food Markets, Inc.) • In 2022, the company reported a total revenue of $1.1B (3.2% YoY growth) and a net income of $21.4M (3.8% YoY growth) • Daily average comparable store sales increased 2.6% which marks the 19th consecutive year of positive comparable store sales growth for the company

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s): NM: 20675

    New Mexico

Financing By

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