In the Heart of the Corrales!

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30635438
Property Subtypes: Mixed Use, Flex Space, Office Building, Other, General
Building Size (RSF): 11,456 SF
Gross Land Area: 1.41 Acres
Sale Price: $1,795,000
Unit Price: $156.69 PSF
Property Use Type: Investment
Building Name: Village Plaza
Class of Space: Class B
Usable Size (USF): 11,242 SF
Sale Terms: Cash to Seller
Cap Rate: 7.8%
Average Occupancy Rate: 90
Last Updated: 9/16/2020

Overview / Comments

The property consists of an average quality steel frame building with stucco exterior walls and flat, built-up modified bitumen roofing system. The property was constructed in 2008. Tenant improvements vary from suite to suite depending on the tenants needs and generally consist of average quality retail / office finishes.

The site is zoned C, Neighborhood Commercial and Service.

The property is located at the northern edge of the central business district of Corrales. It benefits from its access, visibility and exposure along Corrales Road (the primary arterial).

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Sandoval
Submarket/Township: Rio Rancho
Taxing Authority: Sandoval County
Tax ID/APN: R121730
Zoning: C-NEIGHBORHOOD COMMERCIAL & SERVICE ZONE DISTRICT
Property Located Between: Evangeline Road and Sharrod Court
Property Visibility: Excellent
Highway Access: Property is 8.7 miles to Interstate 25 (17 minute drive).
Airports: Sunport International
Site Description: The property is located in the heart of Corrales. The building is approximately 11,456 square feet and includes 9 suites ranging from 725 square feet to 2,687 square feet. Tenants include Corrales Art Center, Cottonwood Family Medicine, Road Runner Health Care, Corrales Pharmacy, Bosque Barber Shop, Candlestick Coffee Roasters, and Movement Studios.
Area Description: The property is located along Corrales Road, a two-lane primary commercial corridor serving the Village of Corrales. This is noted as the northern edge of the Corrales Business District. The new Ex Novo Brewing Company is located just west of the property.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2008
Roof Type: Flat
Construction/Siding: Steel Frame
Exterior Description: Exterior is synthetic stucco.
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: All parking is surface. The property appears to meet or exceed minimum parking requirements for the current use.
Sprinklers: None
Heat Source: Central, Other
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite
Interior Description: Tenant improvements vary from suite to suite depending upon the tenant's use and generally consist of average quality retail / office finishes.
Zoning Description: Zoned C, Neighborhood Commercial and Service. The C zoning provides suitable sites for most retail, office, and light industrial & manufacturing uses.
Water Service: Municipal
Sewer Type: Septic
Easements: Utilities
Easements Description: Typical perimeter utility easements are present and do not appear to impact site utility.
Land Ownership: fee simple
Legal Description: Lot numbered One - A (1-A) of Sun Mountain Subdivision, a Subdivision in the Village of Corrales, Sandoval County, New Mexico, as the same is shown and designated on the plat thereof, filed in the Office of the County Clerk of Sandoval County, New Mexico, on March 7, 1998, in Volume 3, Folio 1736-B.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,331 35,953 146,088
Median Age: 50.67 42.87 40.32
Households: 1,806 14,952 57,455

Contact

Photograph of Listing Agent

Joe R. Romero, CCIM

Colliers International CARNM CIE Member
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