For Sale
$2,539,000

315 Romero StAlbuquerque, NM 87104

Historic shopping center, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents the Pazuela Sombra Shopping Center, a stabilized retail property located in the heart of Albuquerque's Old Town Plaza at 315 Romero St NW, Albuquerque, NM 87104. This 14,645 square foot shopping center boasts 17 units across three buildings, each with appealing architecture reflecting the historical charm of the area. The property features a mix of retail and office spaces ranging from 634 to 1,300 square feet, currently enjoying 95% occupancy with a remaining lease term of 4 years under a gross lease structure. The center benefits from a prime location just off the main entrance to the Old Town Plaza, directly across from the historic St. Felipe De Neri Church (a National Register of Historic Places site). With a strong net operating income (NOI) of $209,114 and an 8.24% cap rate, this multi-tenant property offers a compelling return on investment. The property sits on a 0.22-acre lot and is zoned MX-T. The asking price is $2,539,000. This is a rare chance to acquire a piece of Albuquerque's rich history and a thriving commercial center. The property's strong tenancy, desirable location, and historical context make it an attractive investment for discerning buyers.

Highlights

  • 17-unit street-front retail collection.
  • Prime Old Town Plaza location, near main entrance.
  • Attractive architectural design.
  • Located in historic Old Town Plaza.
  • Retail/office spaces ranging from 634 to 1,300 square feet.
  • Across from the historic St. Felipe De Neri Church (National Register of Historic Places).

Property Details for 315 Romero St

Property type
Lifestyle centers, Power centers
Square Feet
14,645 SF
Buildings
3
Stories
2
Lot Size (sq. ft)
9,583 SF
Units
17

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.097008351297
Longitude
-106.67036447155
315 Romero St, Albuquerque, New Mexico

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315 Romero St
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