Description:   Allocation of purchase price: Land-$1,264,401; Tower Lease-$141,177; Site Engineering-$95,000.
Comments:   Land valued @ $7.88 per square foot. A lease agreement and options with Verizon Wireless for a telecommunications tower placed on the parcel provides annual income of $12,000, with provisions for lease extensions and incremental rent increases. The $141,177 value of this lease is based on a capitalization rate of 8.5%. The 95,000 includes cost of a site engineering study, creation of site ponding area and two curb cuts on Bataan Memorial West. Additional access is provided through right-of-way easement running from Del Rey Boulevard through Del Rey Plaza Shopping Center to the easterly edge of the property.

Listing Agency: NAI 1st Valley Realty Inc.
Contact Agent: Denny Loverin
Phone:   (505) 521-1535
Email:   
Website:   http://www.1stvalley.com