Skip to main content

Single-Tenant Office

Bank of America Single-Tenant Office

4330 Picabo St NE, Rio Rancho, NM 87144

Listing Price: $15,480,000

Cap Rate
6.00%
Gross SF
76,768
Rentable SF
76,768
Price/Gross SF
$201.65
Lot Size
14.02 acres
Year Built
1998

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 4330 Picabo Street, a 76,768 square-foot office building located in Rio Rancho (Albuquerque), New Mexico. Bank of America, an investment grade A+ rated tenant, occupies the entire property. NNN lease structure. Recently extended their lease. Currently seven (7) years remain on the lease.

Investment Highlights

  • Long History of Occupancy. Originally built and occupied since 1998. Bank of America executed a Corporate Sale Leaseback for a number of the other Customer Service Center Properties nationally.
  • Tenant has shown recent re-commitment to this property by signing an early 5-year lease extension in October, 2021. Lease expiration is 10.31.2028.
  • 5 acres of adjacent land that comes with the property. Could be used for expansion or can be sold off potentially to create extra value. this customer service center may need to expand in the future.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s) NM: 19583

    New Mexico

Financing By

Single-Tenant Office

Bank of America Single-Tenant Office

Listing Price: $15,480,000

Cap Rate
6.00%
Gross SF
76,768
Rentable SF
76,768
Price/Gross SF
$201.65
Lot Size
14.02 acres
Year Built
1998

Investment Highlights

  • Long History of Occupancy. Originally built and occupied since 1998. Bank of America executed a Corporate Sale Leaseback for a number of the other Customer Service Center Properties nationally.
  • Tenant has shown recent re-commitment to this property by signing an early 5-year lease extension in October, 2021. Lease expiration is 10.31.2028.
  • 5 acres of adjacent land that comes with the property. Could be used for expansion or can be sold off potentially to create extra value. this customer service center may need to expand in the future.

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 4330 Picabo Street, a 76,768 square-foot office building located in Rio Rancho (Albuquerque), New Mexico. Bank of America, an investment grade A+ rated tenant, occupies the entire property. NNN lease structure. Recently extended their lease. Currently seven (7) years remain on the lease.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s): NM: 19583

    New Mexico

Financing By

MM Texture Background
MM Textured Background Lower