For Sale
$1,895,000

2440 San Mateo PlAlbuquerque, NM 87110

Albuquerque Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Albuquerque, New Mexico shopping center presents a compelling investment opportunity. Located at 2440 San Mateo Pl NE, 87110, this stabilized, 100% occupied property boasts 27,055 square feet of net rentable space across nine units within a single, one-story building. The property sits on a 1.45-acre lot, offering ample parking (99 spaces per 1,000 sq ft) and significant potential. Currently generating a Net Operating Income (NOI) of $193,185, with a pro-forma NOI of $215,000, this investment offers a strong 10.19% cap rate and a pro-forma cap rate of 11.35%. The asking price is $1,895,000, translating to $70.04 per square foot. The property features a Modified lease type with ten tenants and is zoned MX-M. The land value is $73.78 per square foot, and the property includes 27,055 square feet of air rights. This prime location at the intersection of San Mateo and I-40 provides excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a high-performing retail asset in a thriving market. The property's strong tenant base and high occupancy rate ensure a stable and predictable income stream. This is a rare opportunity to acquire a well-maintained, fully occupied shopping center with significant upside potential.

Highlights

  • Albuquerque, NM shopping center investment opportunity; 27,055 SF NRSF, 100% occupied.
  • 1.45-acre lot, 99 parking spaces per 1,000 SF.
  • $1,895,000 asking price ($70.04/SF); $193,185 NOI, 10.19% cap rate (pro-forma $215,000 NOI, 11.35% cap rate).
  • Nine units in a single-story building; Modified leases; MX-M zoning.
  • Prime I-40 & San Mateo Blvd NE location.

Property Details for 2440 San Mateo Pl

Property type
Lifestyle centers, Power centers
Square Feet
27,055 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
63,162 SF
Units
9

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.1071664
Longitude
-106.58594
2440 San Mateo Pl, Albuquerque, New Mexico

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2440 San Mateo Pl
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