3500 Central AveAlbuquerque, NM 87106

Property Details for 3500 Central Ave

Year built

1948

Lot size

0.23 AC

Property size (Sq ft)

8,881 SF

Property type

Turn key restaurants

APN

1-016-057-496-250-4-35-04

APU

101605749625043504

Description

This exceptional 10,567 square foot retail shopping center, situated on a 1.72-acre lot at 3500 Central Ave SE in Albuquerque, New Mexico, presents a unique investment opportunity. Built in 1949 and proudly listed on the Bernalillo County Historic Places Register, this landmark property boasts a prominent location in the University submarket, establishing it as Albuquerque's first shopping center. Currently, there are 5,483 square feet of vacant space available, divisible into units ranging from 754 to 1,940 contiguous square feet, offering flexibility for various retail concepts. The center benefits from high visibility with monument signage on Central Avenue and convenient customer parking (2 hours free). The property is zoned MX-M and enjoys a strong tenant base, including established local favorites such as Scalo's, Gecko's, and Cinnamon Cafe, as well as La Montañita Co-op, the only grocery store in Nob Hill. This presents a rare chance to acquire a piece of Albuquerque's history and a thriving retail center in a highly desirable location. The property's rich history and prime location within the vibrant Nob Hill community offer significant potential for future growth and return on investment. The available space provides an excellent opportunity for expansion or the addition of new businesses to this already successful center.

• CAP approach

  CAP return

  Valuation

  6%

  $1,431,570

  6.5%

  $1,321,450

  7%

  $1,227,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $795,858

  Geo Method

  $763,098

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,535,930

  Mixed-Use / Specialty

  $1,333,310

  Hospitality / Lodging

  $999,785

  Office

  $1,342,650

  Institutional / Educational

  $1,392,030

  Residential Income

  $1,628,670

  Multifamily

  $1,861,460

  Automotive / Energy

  $1,193,170

  Parking / Income-Based Land

  $395,372

  Restaurant / Food Service

  $728,837

  Healthcare / Senior Housing

  $1,350,290

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0796

Longitude

-106.606

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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