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Pavilions San Mateo-Walmart Grocery Anch 4 Retail Properties Offered at $43,489,810 CAD in Albuquerque, NM
Investment Highlights
- Highly Successful Walmart Grocery Anchored Center Investment Opportunity
- Regional Daily Needs Shopping Center
- Walmart Anchored Neighborhood Center Serving Central Albuquerque Trade Area W/ Excellent I-40 Freeway Accessibility To Surrounding Communities
- New Leasing Activity And Strong Anchor Renewals Show Increased Tenant Demand For The Area
- Well Below Replacement Costs – Under $225/SF
- Strong Demographics In The Immediate Trade Area
Executive Summary
New Mexico Broker of Record: Lee Langen / Remax License No.: 19241
Faris Lee Investments is pleased to offer the rare opportunity to acquire the fee simple interest in The Pavilions at San Mateo, a Walmart Grocery–anchored community center in the central core of Albuquerque. Reinforcing the strength of this location, Walmart recently executed an extension through 2036, providing long-term income stability. Grocery-anchored shopping centers continue to be one of the most resilient and sought after product types for retail investors, driven by necessity-based demand and consistent daily traffic.
Significant leasing momentum & anchor lease extensions further highlight strength of the real estate , evidenced by Five Below signing a new 10-year lease and Dollar Tree recently extending for 10 years as well as Old Navy & Shoe Dept extending for 5 years. These national retailers complement a diverse merchandising mix of daily needs tenants that draws over 2.2 million visitors annually (Placer.ai). Furthermore, with a purchase price reflecting a cost basis under $225/SF, the offering provides a secure investment well below replacement cost, allowing for long-term rental growth and favorable returns.
Strategically located near the on/off ramp of Interstate 40 (±206,300 VPD), The Pavilions at San Mateo enjoys exceptional regional accessibility and visibility. The property is positioned at the high-traffic intersection of San Mateo Blvd NE and Cutler Ave NE (combined ±48,000 VPD), benefiting from multiple points of ingress/egress and significant street frontage. The center is also situated within a premier commercial corridor, just one mile from major regional economic drivers including Coronado Center and Winrock Town Center.
The surrounding trade area features exceptional demographics, with over 117,000 residents and a daytime employment base of 110,000 employees within 3 miles. This high concentration of consumers positions The Pavilions at San Mateo as a compelling opportunity to acquire a high-quality, stabilized asset with a powerful national tenant lineup in a premier central Albuquerque retail corridor.
Faris Lee Investments is pleased to offer the rare opportunity to acquire the fee simple interest in The Pavilions at San Mateo, a Walmart Grocery–anchored community center in the central core of Albuquerque. Reinforcing the strength of this location, Walmart recently executed an extension through 2036, providing long-term income stability. Grocery-anchored shopping centers continue to be one of the most resilient and sought after product types for retail investors, driven by necessity-based demand and consistent daily traffic.
Significant leasing momentum & anchor lease extensions further highlight strength of the real estate , evidenced by Five Below signing a new 10-year lease and Dollar Tree recently extending for 10 years as well as Old Navy & Shoe Dept extending for 5 years. These national retailers complement a diverse merchandising mix of daily needs tenants that draws over 2.2 million visitors annually (Placer.ai). Furthermore, with a purchase price reflecting a cost basis under $225/SF, the offering provides a secure investment well below replacement cost, allowing for long-term rental growth and favorable returns.
Strategically located near the on/off ramp of Interstate 40 (±206,300 VPD), The Pavilions at San Mateo enjoys exceptional regional accessibility and visibility. The property is positioned at the high-traffic intersection of San Mateo Blvd NE and Cutler Ave NE (combined ±48,000 VPD), benefiting from multiple points of ingress/egress and significant street frontage. The center is also situated within a premier commercial corridor, just one mile from major regional economic drivers including Coronado Center and Winrock Town Center.
The surrounding trade area features exceptional demographics, with over 117,000 residents and a daytime employment base of 110,000 employees within 3 miles. This high concentration of consumers positions The Pavilions at San Mateo as a compelling opportunity to acquire a high-quality, stabilized asset with a powerful national tenant lineup in a premier central Albuquerque retail corridor.
Property Facts
| Price | $43,489,810 CAD | Number of Properties | 4 |
| Price / SF | $320.46 CAD / SF | Individually For Sale | 4 |
| Cap Rate | 7% | Total Building Size | 135,711 SF |
| Sale Type | Investment NNN | Total Land Area | 22.42 AC |
| Status | Active |
| Price | $43,489,810 CAD |
| Price / SF | $320.46 CAD / SF |
| Cap Rate | 7% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 4 |
| Total Building Size | 135,711 SF |
| Total Land Area | 22.42 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4600-4700 Cutler Ave, Albuquerque, NM 87110 | Retail | 75,907 SF | 1996 | $16,132,243 CAD |
| 4900 Cutler Ave NE, Albuquerque, NM 87110 | Retail | 40,787 SF | 1997 | $20,605,950 CAD |
| 5010 Cutler Ave NE, Albuquerque, NM 87110 | Retail | 14,017 SF | 1997 | $7,333,481 CAD |
| 4910 Cutler Ave NE, Albuquerque, NM 87110 | Retail | 5,000 SF | 1996 | $3,114,606 CAD |
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Contacts
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Donald MacLellan -
Jeff Conover -
Scott DeYoung -
Greg Lukosky -
Faris Lee Investments
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