Albuquerque Retail for Sale - Northeast Heights
New Mexico Broker of Record: Lee Langen / License.: 19241
Faris Lee Investments is pleased to offer the rare opportunity to acquire the fee-simple interest in a highly visible retail pad located within The Pavilions at San Mateo, a premier Walmart Neighborhood Market-anchored community center in the central core of Albuquerque.? Reinforcing the strength and stability of this location, the separate parcel pad is 100% leased to a diverse mix of national and regional credit tenants: Orangetheory Fitness, Einstein Bros. Bagels, Fitshop Med Spa, and Juani's Kitchen. Demonstrating excellent leasing momentum and tenant commitment, Fitshop Med Spa recently extended its lease for 4 years, Juani's Kitchen extended for 6 years, and Orangetheory Fitness brings elite corporate backing following its 2024 merger with Self Esteem Brands.? Multi-tenant retail pads within high-performing centers continue to be one of the most resilient product types for real estate investors, driven by necessity-based demand and internet-resistant services that safeguard the asset against e-commerce disruption.?
The subject asset benefits from immense retail synergy, drawing from the 150,000-square-foot shopping center's impressive 2.3 million annual visitors (Placer.?ai), driven by core anchors Walmart Neighborhood Market, Five Below, and Dollar Tree.? This prime, hard-corner pad building offers superior frontage, on-site parking, and uncompromised street-front visibility at a high-profile, signalized intersection.? Investors will benefit from an NNN-leased structure with limited landlord responsibilities, as the tenants manage interior upkeep and HVAC maintenance while assuming responsibility for property taxes, insurance, and common area maintenance (CAM).? This low-management setup delivers a stable, robust cash flow ideal for passive investors or 1031 exchange buyers, while providing strong tax benefits through favorable returns and cost segregation of both the land and building improvements.?
Strategically located near the on/off ramp of Interstate 40 (over 206,000 VPD), the pad enjoys exceptional regional accessibility and visibility.? The property is positioned at the high-traffic intersection of San Mateo Blvd NE and Cutler Ave NE (over 48,000 VPD), benefiting from a premier signalized intersection with multiple points of ingress/egress.? The center is situated within Albuquerque's top commercial corridor, just one mile from major regional economic drivers, including Coronado Center (9.8 million annual visitors), Winrock Town Center, and a newly opened $10 Million, 58,000-square-foot Crunch Fitness facility.? The surrounding trade area features exceptional demographics, with over 116,000 residents, 54,000 households, and a daytime employment base of 113,000 employees within 3 miles.? This high concentration of consumers, combined with proximity to top-performing state leaders like Whole Foods (#1 in NM) and Target (#1 in NM), positions this asset as a compelling opportunity to acquire a high-quality, stabilized pad in a premier retail corridor.?
