Los Alamos Strip Shopping Center

Shopping Center for Sale
Catylist Listing ID: 28287848
Property Subtypes: Mixed Use
Building Size (RSF): 8,975 SF
Gross Building Area: See Agent
Gross Land Area: 1.03 Acres
Sale Price: $1,208,794
Unit Price: $134.68 PSF
Property Use Type: Investment
Building Name: 991-997 Central Ave
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 11/2/2017

Overview / Comments

Located in the epicenter of the commercial and business district of Los Alamos, this strip center center shares Mari-Mac Village with several other individually owned buildings which house a Smiths Super Market, Bealls, Auto Zone,various eating establishments and many other popular consumer destinations. The center hosts the DMV and a variety of highly successful personal service businesses. and is presently 92% rented. Los Alamos is surrounded mostly by national forest, and the topography severely limits expansion of the existing commercial hub. New commercial sites nearly always come to being only through the destruction of older less viable commercial buildings. This commercial site is probably the most stable commercial rental market in the country. When available, vacant spaces command a high premium, and waiting lists are not uncommon. Los Alamos is home to the Los Alamos National Laboratories, one of the premier super high-technology research centers in the United States. As such, Los Alamos County is the 4th richest county in the U.S., boasts median income exceeding $97,000 per household, and an unemployment rate at an enviable 3%. The area is growing rapidly due to the high quality of jobs available as well as the richness of recreational opportunity nearby added to the cultural possibilities offered by Albuquerque, Santa Fe, and Taos all of which are within easy driving distance.

Current Tenants

Tenant Business Name DMV
Is Renting? Yes
SF of Space Occupied 1,935 SF
Current Rent $30 PSF (Annual)
Tenant Business Name Curves
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 1,400 SF
Current Rent $13 PSF (Annual)
Tenant Business Name L A Tan
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 1,037 SF
Current Rent $17 PSF (Annual)
Tenant Business Name Rio Grande Travel
Industry Type Arts, Entertainment, and Recreation
Is Renting? Yes
SF of Space Occupied 600 SF
Current Rent $20 PSF (Annual)
Tenant Business Name Paula Clemmons
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 688 SF
Current Rent $17 PSF (Annual)
Tenant Business Name Naranjo Agency
Industry Type Finance and Insurance
Is Renting? Yes
SF of Space Occupied 640 SF
Current Rent $18 PSF (Annual)
Tenant Business Name All About You
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 700 SF
Current Rent $16 PSF (Annual)
Tenant Business Name Khalsa Acupuncture
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 800 SF
Current Rent $15 PSF (Annual)
Tenant Business Name Seamstress
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 750 SF
Current Rent $13 PSF (Annual)
Tenant Business Name L A Hair Affair
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 443 SF
Current Rent $18 PSF (Annual)

Additional Details

Nearest MSA: Los Alamos
County: Los Alamos
Zoning: C -3 HEAVY COMMERCIAL
Market Type: Medium
Retail Clientele: General
Property Located Between: Central and Trinity
Side of Street: West
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Central
Transportation: Highway, Airport, Taxi
Highway Access: Highway 502 from Espanola becomes Trinity at the city limits.
Airports: Albuquerque, Santa Fe, Los Alamos
Site Description: Located in the epicenter of the commercial and business district of Los Alamos. Strip center is surrounded by office buildings and a variety of commercial establishments.
Area Description: Los Alamos is nearly surrounded by national forest and is virtually contiguous to the fabled Valles Calderas, an 89,000+/- acre managed wildlife area which offers year-round recreational opportunities. Nearby is Pajarito ski area, Santa Fe ski basin, Pecos Wilderness and many other legendary natural New Mexico treats. The altitude of 7000+ feet provides tolerable dry heat in summer, always cool nights, and the strong possibility of White Christmases. City life is not far away as both Santa Fe and Albuquerque are within easy driving distance offering little theater, opera, orchestral events, zoos, galleries, the internationally known annual balloon fiesta, horse activities of every stripe, hiking, boating, fishing, camping, and simply learning to enjoy one of the least populated, but most physically diverse and gorgeous states in the union.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 8,993 SF
Property Condition: Excellent
Roof Type: Flat
Parking Type: Surface
Parking Description: Parking is adequate in this three-entity area where there are two office buildings, a Smiths Grocery and this center on one city block with plenty of paved parking area in the center.
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Interior Description: Center is in excellent condition.
Legal Description: Lot 2A-1, Mari-Mac Village Subdivision, as shown on the Lot Line Adjustment Plat thereof filed for record on May 16, 2003, as Document No. 168110, in Plat Book 114, page 506, records of Los Alamos County, New Mexico.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,173 8,476 14,171
Median Age: 41.85 42.23 43.86
Households: 2,301 3,880 6,174

Contact

Photograph of Listing Agent

Raymond H. Seagers

ReMax Western Heritage
CARNM CIE Member
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