Goff Plaza Shopping Center for Sale

Shopping Center for Sale
Catylist Listing ID: 30445930
Property Subtypes: Grocery-Anchored, Neighborhood Center, Strip Center
Building Size (RSF): 77,123 SF
Gross Land Area: 7.62 Acres
Sale Price: $7,750,000
Unit Price: $100.49 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Goff Plaza
Sale Terms: Cash to Seller, Owner Financing
Last Updated: 10/22/2020

Overview / Comments

3 large pylon signs, much larger than allowed in county zoning with electronic full color changeable reader boards on Bridge and Goff

Triple frontage (Bridge, Goff, and Tapia Place) with exposure to over 37,000 VPD
at the intersection of Bridge Blvd and Goff Blvd.

Parking - 266 spaces (4:1,000)

Located in one of ABQ’s most underserved trade area

Albuquerque has only 8 river crossings: Bridge Blvd. has direct on/off access from I-25, one of the busiest river crossings in the city

Extensive video security and surveillance system and on-site property manager and domicile facility

Surplus land for future development

Extensive $2 million dollar plus renovations in the last eight years

2.5% commission to buyers’ broker

Seller will consider 1031 Exchange with Indemnification of Seller and Seller’s Broker. Seller will consider Commercial Real Estate Trades – Warehouse- Flex Space-Retail- Service. Seller will consider an REC.

Cap Rate: 8.03% (based on 2019 actual 's)

Excellent Rental History. Blended average rents of $8.91/SF. Significant upside in rents.

Many scheduled increases upon renewal.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: South Valley
Tax ID/APN: 101205629322141305
Zoning: NR-C - Non-residential: Commercial
Largest Nearby Street: Bridge Blvd
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Renovated: 2006
Roof Type: Flat
Construction/Siding: Concrete
Parking Type: Surface
Sprinklers: Wet
Heat Type: Natural Gas
Air Conditioning: Evaporative Cooler, Package Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,165 115,470 237,864
Median Age: 35.05 32.14 32.87
Households: 4,972 41,511 89,063

Contact

Photograph of Listing Agent

Brandon Saylor

Base 5 Retail Partners CARNM CIE Member
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