555 Broadway Blvd NE | Albuquerque, NM 87102
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555 Broadway Blvd NE
Albuquerque, NM 87102
Office Property For Sale
Investment Highlights
- Recently renewed 7-year / 5-firm (SSA) and 7-year (total w/options) / 5-year firm (BoR) leases
- Two Mission Critical Facilities With Significant Tenant Improvement and Building Security Systems Invested
- Well Maintained Masonry and Stucco Construction
- United States Government Lease (AA+ S&P Credit Rating)
- 251 Parking Spaces (Including 6 Motocycle)
- Albuquerque’s Total Population - 562,599 (2021)
Executive Summary
The Ficke Team of Colliers is pleased to present to qualified investors the opportunity to acquire the Bureau of Reclamation and the Social Security Administration located in Albuquerque, New Mexico. This 62,078 square foot multi-tenant office property is fully leased to both the Bureau of Reclamation (BoR) and the Social Security Administration (SSA) on recently renewed leases 5 and 7 year leases.
The Bureau of Reclamation is best known for the dams, power plants, and canals it constructed primarily across 17 western states. Today, the Bureau of Reclamation is the largest wholesaler of water in the country; providing water to more than 31 million people and one out of five Western farmers (140,000) with irrigation water for 10 million acres of farmland that produce 60% of the nation’s The Bureau is also the second largest producer of hydroelectric power in the western U.S.
The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant’s benefits are based on the wage earner’s contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need. SSA offers its services to the public through 1,200 field offices, a website, and a national toll-free number. Field offices, which served 43 million individuals in 2019, were reopened on April 7, 2022 after being closed for two years due to the COVID-19 pandemic.
The Bureau of Reclamation is best known for the dams, power plants, and canals it constructed primarily across 17 western states. Today, the Bureau of Reclamation is the largest wholesaler of water in the country; providing water to more than 31 million people and one out of five Western farmers (140,000) with irrigation water for 10 million acres of farmland that produce 60% of the nation’s The Bureau is also the second largest producer of hydroelectric power in the western U.S.
The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant’s benefits are based on the wage earner’s contributions. Otherwise benefits such as Supplemental Security Income (SSI) are given based on need. SSA offers its services to the public through 1,200 field offices, a website, and a national toll-free number. Field offices, which served 43 million individuals in 2019, were reopened on April 7, 2022 after being closed for two years due to the COVID-19 pandemic.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
62,078 SF
Building Class
B
Year Built
2003
Price
$19,100,130 CAD
Price Per SF
$308 CAD
Cap Rate
8.75%
NOI
$1,671,261 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
30,000 SF
Slab To Slab
12’
Building FAR
0.46
Lot Size
3.10 AC
Opportunity Zone
Yes
Parking
253 Spaces (1.37 Spaces per 1,000 SF Leased)
PROPERTY TAXES
Parcel Number | 1-014-058-374019-4-04-02 | Improvements Assessment | $2,264,919 CAD |
Land Assessment | $427,268 CAD | Total Assessment | $2,692,188 CAD |
PROPERTY TAXES
Parcel Number
1-014-058-374019-4-04-02
Land Assessment
$427,268 CAD
Improvements Assessment
$2,264,919 CAD
Total Assessment
$2,692,188 CAD
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