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4360 Cutler Ave NE

4360 Cutler Ave NE Albuquerque, NM 87110

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Overview

4360 Cutler Blve NE is a four-tenant retail center located in the NE quadrant of Albuquerque, NM.  It boasts incredible freeway visibility off Interstate 40 and is only 1.5 miles from Coronado Center, Winrock Center and Uptown Shopping Center, which collectively comprise the highest retail activity in the city. Strong daytime population as well as higher income neighborhoods to the south provide a steady customer base.  The center is anchored by Cailbers Shooting Range which has two locations in Albuquerque, and one in Clovis, NM.

 

The tenant mix enjoys excellent synergy, as evidenced by the property’s 100% occupancy record since construction. Three of the four tenants represent 89% of the rentable square footage and have recently renewed their leases showing a commitment to the center and validating the center’s viability.  The fourth tenant (1,425 RSF) has 1 year left on their lease and is expected to renew again.

 

The majority owner of the subject property is also the majority owner of the Calibers Shooting Center, and recently signed a 5-year lease for 41% of the RSF for their gun safe business.   This provides assurance to the new owner that they will have a long-term partner in the success and viability of the center for years to come.

 

Key Investment metrics:

  • Well below replacement cost ($279/sf)

    • 8.38% CAP with an IRR of 16.77%* on current rents and OPEX.
    • 7.64% CAP with an IRR of 13%* if underwritten with 5% vacancy and 4% management.

     

*IRR based on 75% LTV, 7% APR, 25 yr amort, 10-year hold with 3% annual rent increases, 3% OPEX annual increases and a disposition CAP Rate of 8% with closing costs at 7% of disposition price.

  • Well below replacement cost ($279/sf)
  • 8.38% CAP with an IRR of 16.77%* on current rents and OPEX.
  • 7.64% CAP with an IRR of 13%* if underwritten with 5% vacancy and 4% management.

For Sale

Investment
Sale Price
$3,550,000
Price Per SF
$279.4/SF
Cap Rate
8.37%
Building Size
12,706 SF
Acres
0.817 ac
Zoning
NR-C
Zoning Description
Non Residential Commercial
Net Operating Income
$297,059
Building Name
Calibers Retail Center
Building Class
A
Floors
1
Year Built
2014
Parking Spaces
130
Submarket
Northeast Heights
Property Use Type
Investment
Property Status
Existing
Vehicles Per Day
192,700 VPD
Average Occupancy Rate
100%
County
Bernalillo
Available
2025-06-30
Created
2025-06-30
Updated
2025-06-30
Listing ID
a3ea87c4
Parcel APN
101705921410330903

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