3621 Menaul BlvdAlbuquerque, NM 87110

Property Details for 3621 Menaul Blvd

Year built

1995

Lot size

13.61 AC

Property size (Sq ft)

132,768 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

1-017-059-067-296-2-01-10

APU

101705906729620110

Description

Park Plaza, a 165,392 square foot Class B shopping center in Albuquerque, New Mexico, offers exceptional retail and restaurant opportunities. Located at 3621 Menaul Blvd NE, at the intersection of Menaul Blvd NE and Carlisle Blvd NE, this property boasts high visibility and traffic. The center features five single-story buildings totaling 12 suites, with a minimum divisible space of 840 square feet and a maximum contiguous space of 43,904 square feet. Currently, 101,248 square feet are available for lease. Built in 1978 and extensively renovated in 2023, Park Plaza sits on a 0.25-acre lot (10,900 square feet) and provides ample parking with a 4.2:1,000 ratio. The property is conveniently located in Albuquerque's Northeast Heights, alongside established anchor tenants including Savers, Mattress Firm, and Eyemart Express. This revitalized center offers unparalleled visibility and a prime location to attract and retain customers. No elevators are present.

• CAP approach

  CAP return

  Valuation

  6%

  $28,204,334

  6.5%

  $26,034,770

  7%

  $24,175,144

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,829,274

  Geo Method

  $27,642,616

• Alternative Use

  Use

  Valuation

  Residential

  $21,961,302

  Hospitality

  $20,116,436

  Educational

  $16,736,638

  Medical

  $17,312,236

  Retail

  $26,034,770

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.1101

Longitude

-106.602

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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