Dollar Tree-Anchored Retail
For Sale
$6,573,720
4405 Jager Dr NE, Rio Rancho, NM 87144
100% leased NNN retail center anchored by Dollar Tree, offering stable in-place tenancy for retail investors.
Property Size29,000 SF
Price / SF$226.68
Days on Market85
Property Features for 4405 Jager Dr NE
General Information
Standard status
Active
Size
29,000 SF
Property subtype
Retail
Zoning
SU
Occupancy
100%
Additional Details
Cap Rate
7.15%
Highway Access
Yes
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Western States Commercial Real Estate
Listed By:
Michael Reneau · License #19679
(505) 273-7169
Source:
Carnm.resimplifi
Added: Jun 16
Changed: Sep 8
Last Checked: Sep 8 at 4:06AM
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 Western States Commercial Real Estate
Investment Insights
Based on property information with market context.
Enchanted Hills Plaza is a 100% leased, Dollar Tree–anchored multi-tenant retail center built for long-term occupancy under an NNN lease structure. The property totals about 29,000 SF and includes a mix of national and local tenants. Current investment metrics cited for the asset include a 7.15% cap rate and $470,021 in NOI.
The center is located in Rio Rancho’s Enchanted Hills trade area, positioned near expanding residential development and major retailers such as Walmart, Home Depot, Ross, and Albertsons. Access is described as convenient to US Hwy 550 and I-25, supporting regular customer flow. A pending Tesla charging station is also noted as a factor intended to enhance visibility going forward.
For buyers seeking a retail asset with stabilized occupancy, Enchanted Hills Plaza combines a strong anchor with in-place tenant income under a triple-net structure. The tenant mix and NNN framework may appeal to investors looking for hands-off ownership while maintaining exposure to a retail-focused trade area supported by surrounding development and nearby big-box draws.
The center is located in Rio Rancho’s Enchanted Hills trade area, positioned near expanding residential development and major retailers such as Walmart, Home Depot, Ross, and Albertsons. Access is described as convenient to US Hwy 550 and I-25, supporting regular customer flow. A pending Tesla charging station is also noted as a factor intended to enhance visibility going forward.
For buyers seeking a retail asset with stabilized occupancy, Enchanted Hills Plaza combines a strong anchor with in-place tenant income under a triple-net structure. The tenant mix and NNN framework may appeal to investors looking for hands-off ownership while maintaining exposure to a retail-focused trade area supported by surrounding development and nearby big-box draws.
Key Highlights
- Enchanted Hills Plaza is 100% leased and Dollar Tree‑anchored multi‑tenant retail center.
- 29,000 SF retail property built in 2005 with a NNN lease structure.
- Stated financials: $470,021 NOI and a 7.15% cap rate (per listing).
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
$357,210
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
5.43%
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%
$7,144,200
$7.1M
Cap Rate 7%
$5,103,000
$5.1M
Cap Rate 9%
$3,969,000
$4.0M
Market Conditions
NOI Build-Up for 29,000 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
$546.4K $18.84/SF
− Vacancy
−$36.1K −$1.24/SF
EGI
$510.3K $17.60/SF
− OpEx
−$153.1K −$5.28/SF
NOI
$357.2K $12.32/SF
Area
Rio Rancho, NM
Vacancy
6.60%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$7,144,200
Cap Rate 7%
$5,103,000
Cap Rate 9%
$3,969,000
Alternative Uses
Best Use
Retail
$5.10M
$4.47M – $5.95M
NOI $357,210 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.18M
$6.28M – $8.38M
NOI $502,790 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
323k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Apparel 25%
Dining 20%
Groceries 14%
Albertsons
Groceries
46,388 visits/mo
0.2 miles
T.J. Maxx
Apparel
42,655 visits/mo
0.5 miles
Whataburger
Dining
30,978 visits/mo
0.3 miles
Ross Dress for Less
Apparel
27,758 visits/mo
0.4 miles
PetSmart
Shops & Services
26,695 visits/mo
0.4 miles
Demographics for 87144, NM
46,333
Population
18,261
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
95%
High-School Grad
100.4 sq mi
ZIP Area
461
Density / Sq Mi
$90,973
Median Household Income
$48,220
Median Earnings
$1,670
Median Rent
$280,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bosque Encantado Gatehouse — 408 Sheriff's Posse Rd, Bernalillo, NM 87004
- Plaza @ Enchanted Hills — 7817 Enchanted Hills Blvd NE, Rio Rancho, NM 87144
- Ross — Unnamed Road, Bernalillo, NM 87004
Frequently Asked Questions
What type of property is this?
Shopping center - 100% leased NNN retail center anchored by Dollar Tree, offering stable in-place tenancy for retail investors.
Where is this shopping center located?
The property is located at 4405 Jager Dr NE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $6,573,720.
What are key features of this property?
This property features: Enchanted Hills Plaza is 100% leased and Dollar Tree‑anchored multi‑tenant retail center.; 29,000 SF retail property built in 2005 with a NNN lease structure.; Stated financials: $470,021 NOI and a 7.15% cap rate (per listing).
