Listed by Coldwell Banker Legacy Paseo Del Norte
$540,000
Retail Strip in Edgewood for Sale
Details
APN 103505834126410000 : 103505834126410105
Property Type Retail, Mixed Use
Sub Type Restaurant, Free Standing
Square Footage 6,014
Cap Rate 6.24%
NOI $33,682
Occupancy 100%
Tenancy Multi
Pro-Forma NOI $60,763
Price per SqFt $90
Year Built 1989
Stories 1
Acreage 1.058
Zoning SD-E66-CC (Sector Development)/ C-1 Neighborhood Commercial
Parking Spaces 20 spaces
Parking Per SqFt 3.33
Retail | 6.24% CAP | 6,014 SqFt
Marketing description
Fully Leased Retail Investment | East Mountains / Old Route 66
Fully occupied 6,014 SF multi-tenant retail property on a gated 1.06-acre lot along NM-333 (Old Route 66) in the East Mountains.
The property is leased to a diverse mix of tenants, including a restaurant, church, dog groomer, glass shop, and the East Mountain Food Pantry. Current Net Operating Income is $33,681, representing a 6.24% cap rate at the asking price.
Several existing leases are below market, creating a clear opportunity for rent normalization as leases roll, with staggered expirations primarily between 2026 and 2028.
Additional features include separate electric meters for tenant spaces and 23 on-site parking spaces.
The property is zoned SD-E66-CC, part of Bernalillo County’s East Route 66 Sector Development Plan, which generally allows neighborhood-serving commercial uses similar to C-1 Neighborhood Commercial zoning (retail, office, and service uses). Buyer to verify permitted uses and development requirements with Bernalillo County during the due diligence period.
*** New price reflects updated survey and revised acreage. Property size has been adjusted from 2.34 acres to 1.06 acres—see attached survey for current boundary lines. ***
Investment highlights
- Submarket : East Mountain
- Submarket Type : Suburban
- Nearest MSA : Albuquerque, NM MSA
- Tax ID Number : 1.03506E+17
- Power Provider : Private - PNM
- Water Provider : Private - Entranosa Water Association
- 6,014 square feet, SD-E66-CC zoning
- Gated 1.059-acre lot
- Gross income: $48,516
- Current NOI: $33,681
- Offered at $99.80 per square foot
- Ample parking for tenants and customers
- Stable tenants: Mix includes restaurant, church, retail, dog groomer, industrial end cap, community nonprofit
Listing Contacts
Listed by Coldwell Banker Legacy Paseo Del Norte
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$33,681.93
$2,806.83/mo
Valuation Metrics
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DSCR
6.24%
Cap Rate
6.24%
ROI
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