315 Romero StAlbuquerque, NM 87104

Property Details for 315 Romero St

Year built

1944

Lot size

0.07 AC

Property size (Sq ft)

2,040 SF

Property type

Retail space

APN

1-013-058-119-351-2-13-04

APU

101305811935121304

Description

This exceptional investment opportunity presents the Pazuela Sombra Shopping Center, a stabilized retail property located in the heart of Albuquerque's Old Town Plaza at 315 Romero St NW, Albuquerque, NM 87104. This 14,645 square foot shopping center boasts 17 units across three buildings, each with appealing architecture reflecting the historical charm of the area. The property features a mix of retail and office spaces ranging from 634 to 1,300 square feet, currently enjoying 95% occupancy with a remaining lease term of 4 years under a gross lease structure. The center benefits from a prime location just off the main entrance to the Old Town Plaza, directly across from the historic St. Felipe De Neri Church (a National Register of Historic Places site). With a strong net operating income (NOI) of $209,114 and an 8.24% cap rate, this multi-tenant property offers a compelling return on investment. The property sits on a 0.22-acre lot and is zoned MX-T. The asking price is $2,539,000. This is a rare chance to acquire a piece of Albuquerque's rich history and a thriving commercial center. The property's strong tenancy, desirable location, and historical context make it an attractive investment for discerning buyers.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.097

Longitude

-106.671

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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