5401 Central AveAlbuquerque, NM 87105
- Office properties
- 198,694 SF
Property Details for 5401 Central Ave
- Year built
- 1961
- Lot size
- 1.68 AC
- Property size (Sq ft)
- 198,694 SF
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 1-018-057-020-201-3-22-02
- APU
- 101805702020132202
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $28,713,782
- 6.5%
- $26,505,030
- 7%
- $24,611,814
-
Comparable approach
- Method
- Valuation
- Relative Method
- $17,120,846
- Geo Method
- $16,416,098
-
Alternative Use
- Use
- Valuation
- Residential
- $32,866,238
- Hospitality
- $30,105,298
- Educational
- $25,047,254
- Medical
- $25,908,668
- Retail
- $38,962,396
Location Insight
- City
- Albuquerque
- County
- Bernalillo
- State
- New Mexico
- Latitude
- 35.0783
- Longitude
- -106.586
- CBSA code
- 10740
- CBSA name
- ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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