For Sale
$2,535,228

5401 Central AveAlbuquerque, NM 87105

Albuquerque Shopping Center - 8.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 22,773 square foot shopping center in Albuquerque, New Mexico. Located at 5401 Central Ave NW, this stabilized property boasts a 100% occupancy rate with four tenants, generating a strong net operating income (NOI) of $215,494 and an 8.50% capitalization rate. The asking price is $2,535,228, translating to $111.33 per square foot. Built in 1974, the property sits on a 1.909-acre lot and features 126 parking spaces, ensuring ample customer convenience. The property benefits from excellent visibility and accessibility, situated on a major arterial road with three convenient access points and prominent pylon signage. The current lease type is NNN (Net, Net, Net), and the zoning is MX-M. This multi-tenant retail center offers significant value-add potential due to below-market rents averaging $9.72 per square foot. The property's location on Albuquerque's historic Route 66, within a high-traffic, high-density area, further enhances its appeal. This below-replacement-cost asset is an ideal choice for investors seeking a stabilized, high-performing property with potential for future growth. The property is currently 100% leased to a mix of national and local retailers.

Highlights

  • Stabilized neighborhood shopping center with 100% occupancy.
  • Value-add opportunity with below-market rents averaging $9.72 per square foot.
  • Below replacement cost asset.
  • Ideal 1031 exchange property.
  • Located on a major Albuquerque arterial with excellent visibility, access, and pylon signage.

Property Details for 5401 Central Ave

Property type
Lifestyle centers, Power centers
Square Feet
22,773 SF
Year Built
1974
Lot Size (sq. ft)
83,156 SF

Location Insight

City
Albuquerque
County
Bernalillo
State
New Mexico
Latitude
35.0834661
Longitude
-106.6979574
5401 Central Ave, Albuquerque, New Mexico

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5401 Central Ave
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