Log In/Sign Up
Your email has been sent.
Sprouts/Michael's Anchored Retail Center 3 Retail Properties Offered at $29,776,041 CAD in Albuquerque, NM
Investment Highlights
- Sprouts / Michaels Anchors Nationally Recognized Retailers
- Well Below Replacement Cost - $167 PSF
- Four Hills is One of Only Two Neighborhood Centers Serving The Eastern Albuquerque Area
- Value Add Opportunity / 32,395 SF of Vacancy (25%) + High Yield 7% + Strong CAGR of 5.36% + 12.35% IRR upon stabilization
- Sprouts Anchored Neighborhood Center Serving Easterly Trade Area W/Excellent 1-40 Freeway Accesibility To Surrounding Communities
- Regional Daily Needs Shopping Center
Executive Summary
New Mexico Broker of Record: Pegasus Group LLC / License No.: REC-2023-0376
Faris Lee Investments is pleased to offer the rare value-add opportunity to acquire Four Hills Village, a grocery-anchored retail center located in the eastern trade area of
Albuquerque, New Mexico. Anchored by nationally recognized tenants Sprouts Farmers Market and Michaels, the property offers investors a secure and dependable income
stream from high-performing, credit-rated retailers. Sprouts (NASDAQ: SFM) continues to show exceptional strength with 2025 revenue exceeding $8.8 billion, while Michaels,
backed by Apollo Global Management, remains a dominant category leader with over 1,300 stores.
The offering features an attractive in-place initial yield of 7.00%, with significant upside potential through the leasing of 32,395 square feet of available shop space. This vacancyis ideally suited for value-oriented retailers, fitness centers, or medical uses, allowing an investor to realize an extremely strong 10-year CAGR of 5.36% and an unlevered IRR of 12.35% upon stabilization. Furthermore, with a purchase price reflecting a cost basis of only $167/SF, the investment is positioned well below replacement cost. This low-cost basis ensures a successful repositioning of the asset and allows for below-market rents to drive aggressive leasing momentum.
Four Hills Village serves as a critical regional hub, being one of only two neighborhood centers serving the eastern Albuquerque trade area and surrounding communities. The
center’s diverse merchandising mix, including grocery, arts and crafts, cinema, and health services, ensures consistent daily foot traffic that remains resilient against e-commerce trends and economic cycles.
Strategically located at the intersection of Central Avenue and Tramway Boulevard (±50,000 VPD), the property enjoys unparalleled freeway accessibility to Interstate 40.
This prime location allows the center to capture a massive 20–30-mile trade area with over 625,000 population serving as the primary grocery destination for the towns
of Tijeras, Cedar Crest, Edgewood, Moriarty, Sedillo, Albuquerque, and Estancia.
Faris Lee Investments is pleased to offer the rare value-add opportunity to acquire Four Hills Village, a grocery-anchored retail center located in the eastern trade area of
Albuquerque, New Mexico. Anchored by nationally recognized tenants Sprouts Farmers Market and Michaels, the property offers investors a secure and dependable income
stream from high-performing, credit-rated retailers. Sprouts (NASDAQ: SFM) continues to show exceptional strength with 2025 revenue exceeding $8.8 billion, while Michaels,
backed by Apollo Global Management, remains a dominant category leader with over 1,300 stores.
The offering features an attractive in-place initial yield of 7.00%, with significant upside potential through the leasing of 32,395 square feet of available shop space. This vacancyis ideally suited for value-oriented retailers, fitness centers, or medical uses, allowing an investor to realize an extremely strong 10-year CAGR of 5.36% and an unlevered IRR of 12.35% upon stabilization. Furthermore, with a purchase price reflecting a cost basis of only $167/SF, the investment is positioned well below replacement cost. This low-cost basis ensures a successful repositioning of the asset and allows for below-market rents to drive aggressive leasing momentum.
Four Hills Village serves as a critical regional hub, being one of only two neighborhood centers serving the eastern Albuquerque trade area and surrounding communities. The
center’s diverse merchandising mix, including grocery, arts and crafts, cinema, and health services, ensures consistent daily foot traffic that remains resilient against e-commerce trends and economic cycles.
Strategically located at the intersection of Central Avenue and Tramway Boulevard (±50,000 VPD), the property enjoys unparalleled freeway accessibility to Interstate 40.
This prime location allows the center to capture a massive 20–30-mile trade area with over 625,000 population serving as the primary grocery destination for the towns
of Tijeras, Cedar Crest, Edgewood, Moriarty, Sedillo, Albuquerque, and Estancia.
Property Facts
| Price | $29,776,041 CAD | Number of Properties | 3 |
| Price / SF | $300.54 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 99,074 SF |
| Sale Type | Investment | Total Land Area | 24.72 AC |
| Status | Active |
| Price | $29,776,041 CAD |
| Price / SF | $300.54 CAD / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 99,074 SF |
| Total Land Area | 24.72 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 13140-13160 Central Ave SE, Albuquerque, NM 87123 | Retail | 85,076 SF | 1986 | - |
| 13170 Central Ave SE, Albuquerque, NM 87123 | Retail | 11,124 SF | 1986 | - |
|
Compass Bank
13140 Central Ave NE, Albuquerque, NM 87123 |
Retail | 2,874 SF | 1986 | - |
1 1
Contacts
-
Jeff Conover -
Donald MacLellan -
Scott DeYoung -
Greg Lukosky -
Faris Lee Investments
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Sprouts/Michael's Anchored Retail Center
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.