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3611 NM-528

Albuquerque, NM 87114 | 1.7 Acres / 14,424 SF | Investment Property For Sale

$6,256,000.00


Shops 528 | 100% Occupied Retail Center | Newer Construction | Premier Location

Array

Investment Property For Sale

Price $6,256,000.00
Size 1.7 Acres / 14,424 SF

Additional Information

Shops 528 
3611 NM-528
Albuquerque, NM 87114

 

Offering Summary

Purchase Price: $6,256,000
Net Operating Income: $437,917
Cap Rate: 7.00%
Lease Type: NNN

 

Investment Highlights

  • 100% occupied retail center
  • Anchored by national credit tenants
  • Newer construction – built in 2017
  • Building Size: ±14,424 SF
  • Land Size: ±1.69 acres
  • 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

Location

Cole Flanagan, CPA, MBA

Partner
505.338.4107

Jake Mechenbier

Director
505.338.4186

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