Family Dollar Anchored Shopping Center for Sale

Shopping Center for Sale
Catylist Listing ID: 30505056
Property Subtypes: Strip Center
Building Size (RSF): 14,125 SF
Gross Building Area: See Agent
Gross Land Area: 1.84 Acres
Sale Price: $1,600,000
Unit Price: $113.27 PSF
Property Use Type: Investment
Building Name: Central Plaza
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 10/31/2019

Overview / Comments

Absolute Investment Realty has been selected as the exclusive representative for Central Plaza Shopping Center located at 7226 Central Avenue NE, Albuquerque, NM. Central Plaza is a high profile shopping center located on Central Ave near Louisiana Blvd. The property has an excellent tenant mix including anchor tenant Family Dollar, Central Laundry and La Michoacán Heladeria (ice cream shop).

The center offers great visibility from the street along with excellent monument signage visible to both east and west bound traffic. Located in a dense urban neighborhood, close in proximity to many amenities including Expo NM, the Albuquerque Downs, Nob Hill, and just 1 mile from I-40, the center is perfectly located to serve the needs of the surrounding neighborhood

This asset is a stabilized investment opportunity with long term tenants, built-in rent growth and upside potential. The property recently underwent significant upgrades including a new TPO roof, new LED Exterior lighting (including pole lights) and new several new HVAC units.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Tax ID/APN: 101905707905530220
Retail Clientele: General, Family
Property Visibility: Excellent
Largest Nearby Street: Central
Area Description: Central Plaza Shopping Center is a neighborhood shopping center perfectly located to serve the needs of the dense surrounding residential neighborhoods and the heavy traffic along Central Avenue and Louisiana Blvd. Central Avenue historic Route66 and is Albuquerque’s main street running the entire east-west length of the city connecting old town, down town, and nob hill. Louisiana Blvd is a main entrance to Kirtland AFB, the city’s largest employer. The dense trade area is home to a multitude of well-recognized co-tenants include chains such as CVS, Cubesmart Self Storage, KFC, Lindo Mexico, Cinnamon Tree Apartments, Ambassador Inn, Family Dental, Talin Market. The City is investing in improving the trade area with a new multi-acre library soon to break ground and a newly completed Albuquerque Rapid Transit (ART) stop, which is conveniently located at the corner of Central & Louisiana. .
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,251 128,936 283,538
Median Age: 33.15 36.93 37.43
Households: 11,151 57,218 124,719

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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