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Contact for pricing
13180 Central Avenue Southeast, Albuquerque, NM 87121
Shopping centers
Property Size129,446 SF
Price / SF$169.96
Days on Market144
Property Features for 13180 Central Avenue Southeast
General Information
Standard status
Active
Size
129,446 SF
Property subtype
Retail
Zoning
MX-M
Net Operating Income
$1,513,115
Site & Location
Traffic Count
50,000 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
7%
Building Details
Year Built
2003
Tenancy
Multi
Listing Agency:
Faris Lee Investments
Listed By:
Jeff Conover · License #CA 01008195
(949) 221-1810
Source:
Crexi
Added: Apr 15
Changed: Aug 28
Last Checked: Sep 4 at 9:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Faris Lee Investments
Investment Insights
Based on property information with market context.
Key Highlights
- Four Hills Village is a grocery‑anchored retail center built in 2003.
- Anchored by Sprouts Farmers Market and Michaels.
- 32,395 SF of available shop space provides leasing upside.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,408,502
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$28,170,040
$28.2M
Cap Rate 7%
$20,121,457
$20.1M
Cap Rate 9%
$15,650,022
$15.7M
Market Conditions
NOI Build-Up for 129,446 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$2.02M $15.60/SF
− Vacancy
−$141.4K −$1.09/SF
EGI
$1.88M $14.51/SF
− OpEx
−$469.5K −$3.63/SF
NOI
$1.41M $10.88/SF
Area
ZIP 87121
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$28,170,040
Cap Rate 7%
$20,121,457
Cap Rate 9%
$15,650,022
Alternative Uses
Best Use
Specialty Retail
$20.12M
$17.61M – $23.48M
NOI $1,408,502 @ 7.0% cap · market cap 6.40%
Second Best
Retail
$17.06M
$14.92M – $19.90M
NOI $1,193,906 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$26.31M
$23.03M – $30.70M
NOI $1,842,027 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
121k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Dining 32%
Shops & Services 12%
Beauty & Spa 3%
Smith's
Groceries
46,570 visits/mo
0.2 miles
McDonald's
Dining
25,225 visits/mo
0.1 miles
Sprouts Farmers Market
Groceries
13,514 visits/mo
0.1 miles
The UPS Store
Shops & Services
6,482 visits/mo
0.0 miles
Taco Bell
Dining
5,400 visits/mo
0.3 miles
Demographics for 87121, NM
77,802
Population
26,118
Households
3
Avg Household Size
31
Median Age
13%
College-Educated
80%
High-School Grad
336.9 sq mi
ZIP Area
231
Density / Sq Mi
$59,184
Median Household Income
$34,738
Median Earnings
$1,277
Median Rent
$192,500
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
Where is this shopping center located?
The property is located at 13180 Central Avenue Southeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Four Hills Village is a grocery‑anchored retail center built in 2003.; Anchored by Sprouts Farmers Market and Michaels.; 32,395 SF of available shop space provides leasing upside.
