Sandia Heights Village
$4.11M | 6.74% Cap | Fully Leased Neighborhood Retail
Marketing description
12700 San Rafael Ave NE is a fully stabilized neighborhood retail center located in Albuquerque’s highly desirable Northeast Heights submarket, one of the city’s most affluent and supply-constrained trade areas. Positioned on a highly visible corner parcel with dual frontage along San Rafael Avenue and Tramway Boulevard, the property benefits from exceptional exposure, strong daily traffic counts, and convenient access for both customers and tenants.
The center totals approximately 14,932 square feet and is situated on a ±1.27-acre parcel, offering an attractive land-to-building ratio and long-term optionality. The single-story layout, ample surface parking, and efficient site configuration support a wide range of service-oriented and neighborhood retail uses. The property is 100% occupied and generates durable in-place cash flow supported by a diversified tenant roster and contractual rent increases.
12700 San Rafael Ave NE is anchored by a curated mix of necessity-based, service, wellness, and lifestyle tenants, including veterinary care, insurance services, personal care, fitness, creative studios, and food and beverage offerings. This tenant composition drives consistent daily visitation and mitigates exposure to discretionary retail volatility, contributing to long-term occupancy stability.
Located within Albuquerque’s highest-income ZIP code (87122), the property benefits from affluent residential demographics, strong household spending power, and limited nearby retail competition. The surrounding Northeast Heights submarket is characterized by established single-family neighborhoods, strong schools, and proximity to major employment centers, healthcare institutions, and outdoor recreation amenities, reinforcing sustained demand for neighborhood-serving retail.
Offered at a 6.74% in-place capitalization rate, the asset provides investors with immediate, predictable income and modest upside through contractual rent growth, while maintaining a conservative risk profile in a proven, high-barrier submarket.
Investment highlights
Prime Northeast Heights Location
Situated in Albuquerque’s most affluent submarket
Located within ZIP code 87122, featuring well-above-average household incomes
Strong neighborhood demographics support long-term retail demand
Gateway Corner Visibility & Traffic Exposure
Dual frontage along San Rafael Ave and Tramway Blvd
Approximately 21,000+ vehicles per day
Excellent ingress/egress and strong drive-by visibility
Stable In-Place Cash Flow
6.74% in-place cap rate
100% occupied with no near-term vacancy risk
Predictable income stream supported by service-oriented tenants
Service-Driven, Resilient Tenant Mix
Concentration of necessity-based and lifestyle services
Limited exposure to e-commerce disruption
Tenants generate repeat, appointment-based and daily-need traffic
Flexible C-1 Zoning
Supports a broad range of retail, service, wellness, and office uses
Allows ownership to adapt tenant mix over time based on market demand
Attractive Physical Characteristics
Approximately 14,932 SF of rentable area
Single-story layout with efficient circulation
Ample surface parking supporting customer convenience
Strong Land Position & Long-Term Optionality
±1.27-acre parcel with favorable land-to-building ratio
Supports future repositioning, redevelopment, or capital planning strategies
Well-maintained asset originally constructed in 1985
Limited Competitive Supply
Northeast Heights retail vacancy remains below national averages
Limited new construction reinforces rent stability and tenant retention
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