Listed by Faris Lee Investments
$30,719,000
Walmart Grocery Anchored Center
Details
Property Type Retail
Sub Type Grocery Store, Shopping Center
Square Footage 135,711
Cap Rate 7.02%
NOI $2,147,284
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 10
Price per SqFt $225
Year Built 1995
Acreage 12.060
Ground Lease No
Ownership Fee Simple
Just Listed - Dominant Walmart Grocery Anchored Center - $30,719,000 - 7% Cap- ALB / NM
Marketing description
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 soughtafter 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.
Albuquerque, NM, offers an exceptional quality of life, blending rich cultural heritage with breathtaking natural landscapes and a welcoming community spirit. Nestled between the Sandia Mountains and the Rio Grande, the city is celebrated for its year-round sunshine, stunning sunsets, and outdoor activities like hiking, biking, and hot-air ballooning, showcased by the world-renowned Albuquerque International Balloon Fiesta. Its diverse arts and music scene, vibrant Southwestern cuisine, and deep-rooted Native American, Hispanic, and Anglo traditions create a culturally rich and inclusive environment. The city’s low cost of living, tight-knit community, and seamless blend of urban amenities with natural beauty make it an ideal place to live, work, and thrive.
Albuquerque is also a city on the rise, experiencing steady economic growth across multiple industries. Aerospace and defense, anchored by Sandia National Laboratories and Kirtland Air Force Base, remain significant drivers, while healthcare systems, renewable energy initiatives, and a burgeoning technology sector continue to expand. The film industry has gained momentum, attracting major studios and productions. The city’s strategic location in the Southwest, combined with a skilled workforce and robust infrastructure, has spurred a surge in commercial activity and business investment. Albuquerque’s balanced growth, emphasis on innovation, and commitment to economic diversification position it as a promising hub for both residents and businesses.
Investment highlights
- Highly Successful Walmart Grocery Anchored Center - 100% Leased
- High Potential C/C Returns w/ Preliminary Loan Quotes at 5.8% 10 Year Fixed
- New Five Below 10 year Lease w/ Several shops exercising their options
- All Anchors including Walmart , Dollar Tree, Old Navy have all extended their leases to 10 years
- WALT is 6+ Years- Excellent Tenant Stability – Testament to quality of the real estate
- Well Below Replacement Costs- Under $225 psf
- Over 2.2 Million Annual Visitors w/ unparalleled I-40 Freeway Visibility – over 205K VPD at Freeway Interchange
- 117,000 people within 3 miles & 110,000 daytime population
- Located in Highly Desirable Commercial Corridor with Excellent Economic Drivers
- Highly Successful Walmart Grocery Anchored Center Investment Opportunity
- New Leasing Activity And Strong Anchor Renewals Show Increased Tenant Demand For The Trade Area
- Regional Daily Needs Shopping Center
- Walmart Anchored Neighborhood Center Serving Central Albuquerque Trade Area W/ Excellent I-40 Freeway Accessibility To Surrounding Communities
- Strong Demographics In The Immediate Trade Area
Listing Contacts
Listed by Faris Lee Investments
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,147,284.00
$178,940.33/mo
Valuation Metrics
0
DSCR
6.99%
Cap Rate
6.99%
ROI
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