Shops 528 | 100% Occupied Retail Center

Shopping Center for Sale
Catylist Listing ID: 30650373
Property Subtypes: Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 14,424 SF
Gross Building Area: See Agent
Gross Land Area: 1.69 SF
Sale Price: $6,256,000
Unit Price: $433.72 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Shops 528
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 11/23/2020

Overview / Comments

• 100% occupied retail center
• Anchored by national credit tenants
• Newer construction - Built in 2017
• Significant in-place cash flow
- 7% Cap Rate with a 5% vacancy factor
• Stabilized asset with new leases
- Domino’s recently signed a 10-year lease
- U.S. Government recently signed a 5-year lease (U.S. Government invested over $565,000 for the build out of their space at their sole cost)
• Significant traffic counts with excellent visibility
- Over 36,000 cars per day on Hwy 528
- Hwy 528 is a river crossing
- Large pylon sign on Hwy 528
- Signalized hard corner
• Premier location
- Site is located in the heart of the Cottonwood trade area
- Only regional trade area on the west side of Albuquerque
• Long-term, predictable cash flow
• Diverse mix of national, regional, and local tenants with staggered lease rollovers

Financials

Finance Data Year 2020
Net Operating Income $437,917 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Cottonwood
Tax ID/APN: 101406617215940108

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,353 79,233 192,090
Median Age: 34.46 39.36 38.43
Households: 3,816 31,714 76,269

Contact

Photograph of Listing Agent

Cole Flanagan

NAI Maestas & Ward CARNM CIE Member
Photograph of Listing Agent

Jake Mechenbier

NAI Maestas & Ward CARNM CIE Member
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