5401 Central AveAlbuquerque, NM 87105

  • Office properties
  • 198,694 SF
For Sale
$2,535,228 View listing

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
5401 Central Ave, Albuquerque, New Mexico

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$109,973
$128,320
$2,163,930
$2,292,250
-
$385,000
$6,492,439
$6,877,439

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