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  • For sale

For Sale

$9,800,000 USD

The property at 5220 San Mateo Blvd NE in Albuquerque is located on a primary arterial through Albuquerque with signage on San Mateo Blvd and excellent visibility and access. RightSpace Storage is located in an area dominated by retail, restaurants, self-storage and the Del Norte High School. The property is offered free and clear of any debt allowing the investor/buyer to acquire the property utilizing their own preferred debt/equity deal structure.

Sale Note
Colliers’ de Jong | Becher team has been retained as the exclusive advisor by the ownership to offer for sale the property located at 5220 San Mateo Blvd NE in Albuquerque, New Mexico. The property is fully stabilized self-storage asset built in 1974/1975 with 53,201 net rentable square feet in 415 units. This 3rd party managed facility will be delivered on an as-is, where-is basis and has consistently maintained +/- 97% occupancy at a weighted average rental rate of $1.21 (storage). Market rents in the area are reported by Yardi Matrix as $1.78/SF, giving the buyer ample room to raise rents. In-place income for the first five months of 2022 were reported by the ownership at $169,221 for an annualized NOI estimate of $406,130 and the property is offered for sale at $9,800,000 or a 4.41% CAP rate on projected year one NOI of $432,006.