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Murphy Oil USA

Albuquerque, New Mexico

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Marcus & Millichap is pleased to present the exclusive listing for a Murphy Oil USA located at 9700 Montgomery Blvd NE in Albuquerque, NM. The property consists of approximately 2,824 square feet of building space and is situated on approximately 0.92 acres of land. The property is subject to a brand new 20-year Absolute NNN ground lease. The rent is $140,000 with 8.0% increases every 5 years. The increases will continue through the four, five-year tenant renewal options.

About the Investment:

  • Brand New 20 Year Absolute Triple-Net (NNN) Ground Lease
  • Brand New Construction
  • Attractive Rent Increases | 8.0% Every 5 Years
  • 4, 5-Year Tenant Renewal Options
  • Corporate Tenant/Corporate Guaranty

About the Location:

  • Dense Retail Corridor | Nearby Tenants Include Sonic, Wendy’s, Taco Bell, Panda Express, Hobby Lobby, Stein Mart, Blake’s Lotaburger, Circle K, Staples, Chevron, Kindercare, and Many More.
  • Affluent Suburban Community | Average Household Income Exceeds $85,000 in a 3-Mile Radius
  • Strong Traffic Counts | Corner of Montgomery Blvd and Eubank Blvd | 35,021 and 33,268 Average Vehicles Per Day Respectively
  • Lovelace Women’s Hospital | Less than 4 Miles Away | 120 Licensed Beds, 53-bed Level III Neonatal Intensive Care Unit, 24/7 emergency department, 16 labor and delivery rooms, and 41-bed Mother-Baby unit

About the Tenant/Brand:

  • 1,400+ Locations in 27 States
  • One of the Highest Volume Convenience Retailers in the United States
  • The Stores Provide Quality, Low-Priced Fuels and Outstanding Service to Nearly 2 million Customers Every Day
  • S&P BB+ Credit Rating
  • $3.87 Billion Market Cap

Key Details

Price:
$2,947,368
Cap Rate:
4.75%
Annual Rent:
$140,000
Address:
9700 Montgomery Blvd NE, Albuquerque, New Mexico 87111
Property Type:
Net Leased Auto Service –Gas/Conv.
Lease Type:
Absolute Triple-Net (NNN) Ground Lease

Original Lease Term:
20 Years
Lease Commencement:
Estimated May 1, 2021
Lease Expiration:
Estimated April 30, 2041
Lease Term Remaining:
20+ Years
Rental Increases:
Eight Percent (8.0%) Every Five (5) Years
Lot Size:
±0.92 Acres
Building Size:
2,824 SF
Year Built:
2021
Tenant:
Murphy Oil USA

Broker of record

Matthew Reeves

License: 19583


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