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Purchase Price

$4,024,215.00

Albuquerque, NM

Walgreens

For Sale

$281,694.96

ANNUAL RENT

cap rate

7.00%

Investment Highlights

Hard Corner Location | 45,000+ VPD | Within 25 Minutes of Downtown Albuquerque

  • The Property occupies the hard corner at the signalized intersection of Golf Course Road NW and Paradise Boulevard NW, two of the primary commuter corridors serving Albuquerque's Westside.

  • Golf Course Road NW carries over 23,000 vehicles daily and Paradise Boulevard NW carries over 22,000 vehicles daily, providing the Walgreens with excellent visibility and access points at both roadways.

  • Approximately 1.5 miles away is the junction of State Route 45 and State Route 423, which provide connections to Interstates 40 and 25, respectively. Both interstates are within 6 miles (15 minutes) of the Property.

  • Downtown Albuquerque is within 25 minutes of the Property via either highway connection.


Proximity to Two Major Area Hospitals | $14.2M in Annual Prescription-Drug Spending

  • The Property sits approximately 1 mile from Lovelace Westside Hospital, a 95-bed general hospital that serves as the primary hospital for Rio Rancho and Albuquerque's Westside.

  • As well, Presbyterian Rust Medical Center, a 210-bed full-service hospital is approximately 3 miles away and further reinforces the area's role as a regional healthcare hub.

  • This concentration of medical facilities drives consistent prescription and pharmacy demand toward the Property, with annual prescription-drug spending exceeding $14.2 million within a 3-mile radius.


Strong Daytime Workforce | 21,000+ Daytime Employees | Anchored by Major Intel Campus

  • The Property benefits from a strong daytime population, with over 21,600 daytime employees within a 3-mile radius supporting consistent traffic throughout the day.

  • Less than 4 miles from the Property are Intel’s Fab 9 and Fab 11x facilities which opened in 2024 as New Mexico's largest private employer, employing several thousand workers on its semiconductor and advanced-packaging campus.

  • Within 6 miles, along I-25, are numerous industrial, distribution, and flex facilities for major companies which include General Mills, Grainger, Advance Auto, Safelite, and Honeywell Aerospace’s defense production facility, amongst many others. The area is also home to numerous corporate headquarters, such as BlueCross BlueShield of New Mexico and Presbyterian Health.


Absolute NNN Lease | First Option Period Exercised

  • The Property is subject to a long-term absolute NNN lease with Walgreens which provides for zero landlord responsibilities and a passive investment. The lease features a corporate guarantee for added security.

  • Walgreen Co. has continuously operated at the Property since 2002 and recently exercised their first option period, demonstrating a long-standing commitment to the location and the surrounding Westside trade area.

  • Walgreens operates nearly 8,000 stores across the United States and is one of the nation's largest pharmacy retailers. In 2025, Walgreens Boots Alliance was taken private by Sycamore Partners.


Strong Area Demographics | 81,000+ Residents | $111,000+ Avg HH Income

  • The Property is supported by a strong residential base of over 11,800 residents within 1 mile and over 81,600 residents within 3 miles, with average household incomes exceeding $105,000 and $111,000 respectively, providing for greater disposable income.

  • The Property is within close proximity to numerous local schools which serve several thousand students, including but not limited to Petroglyph Elementary School (500+ students), James Monroe Middle School (650+ students), Cibola High School (1,600+ students), and many others.

  • Neighboring SR 45 and SR 423 is the Southwestern Indian Polytechnic Institute, 1 of 37 U.S. Tribal Colleges & Universities.


Proximity to National Retailers | Near 2nd Largest Mall in New Mexico | $1.1B+ in Consumer Spending

  • The Property is situated amongst numerous national retailers along Golf Courd Road, which include Walmart Neighborhood Market, Smith’s Grocery, McDonald’s Starbucks, as well as a Sonic Drive-In that neighbors the Property, amongst many more.

  • Surrounding SR 45 are the Westside’s major retailers, such as Costco, Target, Sam’s Club, Home Depot and others. The highway is anchored by the Cottonwood Mall which is the second largest mall in New Mexico with over 1 million sq. ft. of retail space for over 130 stores.

  • Total consumer spending within a 3-mile radius exceeds $1.1 billion annually, reinforcing the depth of demand for daily-use retail and pharmacy services.

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