Trade Winds Shopping Center Sale Investment
5400 Central Ave SE Albuquerque, NM 87108
Overview
Trade Winds shopping center located near the corner of Central & San Mateo, East of Nob Hill in Albuquerque. The former Trade Winds Motel was redeveloped with the intention of bringing affordable, new retail to the area. Prices are well under comparable lease rates for similar properties in the surrounding area. This highly visible and iconic property has many options for local and national users alike. Currently leased to Torress Birria and Taco Shop, Radiate By McQuitty DMD, and Fiesta Insurance, El Farron Events, come and join the energy!
This center provides a unique opportunity for experienced retail investors to buy a property well under replacement costs, with a large amount of upside potential. When occupancy is increased just to 90%, this center will provide a 14.2% CAP rate at the market rents of $14.00 PSF NNN.
- Price: $1,950,000
- Proforma NOI : $276,909
- Proforma Cap Rate: 14.2%
- Current Occupancy: 49%
Attachments
For Sale
- Sale Price
- $1,950,000
- Price Per SF
- $101.3/SF
- Investment
- Yes
- Cap Rate
- 7.5%
- Gross Income
- $391,862.02
- Net Operating Income
- $145,595.67
- Total Expenses
- $84,185.35
- Building Size
- 19,254 SF
- Acres
- 1.5 ac
- Zoning
- MX-M
- Building Name
- Trade Winds Shopping Center
- Building Class
- B
- Submarket
- Southeast Heights
- Property Use Type
- Investment
- Property Status
- Existing
- Vehicles Per Day
- 19,875 VPD
- Has Drive Thru
- Yes
- County
- Bernalillo
- Created
- 2024-05-11
- Updated
- 2024-12-04
- Listing ID
- cea6fe49
- Parcel APN
- 101805703715532104