Two-Tenant Retail
For Sale
$2,037,000
4910 Cutler Ave NE, Albuquerque, NM 87110
Fee-simple retail pad occupied by Visionworks and H&R Block within a Walmart Neighborhood Market-anchored center.
Property Size4,998 SF
Days on Market116
Property Features for 4910 Cutler Ave NE
General Information
Standard status
Active
Size
4,998 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$137,482
Site & Location
Anchor Co-Tenants
Walmart Neighborhood Market
Traffic Count
206,000 vehicles/day
Building Details
Building Size
4,998 SF
Year Built
1996
Tenancy
Multi
Listed By:
Don MacLellan · License #CalDRE #00897784
(949) 584-8471
Source:
Farislee
Added: Jun 23
Changed: Oct 6
Last Checked: Oct 14 at 9:37PM
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 Don MacLellan
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Investment Insights
Based on property information with market context.
This fee-simple retail pad contains two tenant spaces occupied by Visionworks and H&R Block. The property was built in 1996 and is part of The Pavilions at San Mateo, a 150,000-square-foot shopping center anchored by a Walmart Neighborhood Market. The separate pad parcel is 100% leased, and Visionworks has agreed to an early exercise of its three-year option through 6/30/2029, subject to final committee approval.
The property is located at 4910 Cutler Ave NE in Albuquerque, near Interstate 40. The surrounding location reports traffic counts exceeding 206,000 VPD, and the pad is positioned along the center's street frontage. The address is in the central core of Albuquerque and within a shopping center that attracts substantial annual visitation.
The property is located at 4910 Cutler Ave NE in Albuquerque, near Interstate 40. The surrounding location reports traffic counts exceeding 206,000 VPD, and the pad is positioned along the center's street frontage. The address is in the central core of Albuquerque and within a shopping center that attracts substantial annual visitation.
Key Highlights
- Two‑tenant retail pad occupied by Visionworks and H&R Block
- 100% leased to Visionworks and H&R Block
- Visionworks agreed to a 3‑year option through 6/30/2029, subject to final committee approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,844
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,436,880
$1.4M
Cap Rate 7%
$1,026,343
$1.0M
Cap Rate 9%
$798,267
$798.3K
Market Conditions
NOI Build-Up for 4,998 SF
Gross rent
$111.0K $22.20/SF
− Vacancy
−$8.3K −$1.67/SF
EGI
$102.6K $20.54/SF
− OpEx
−$30.8K −$6.16/SF
NOI
$71.8K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,436,880
Cap Rate 7%
$1,026,343
Cap Rate 9%
$798,267
Alternative Uses
Best Use
Retail
$1.03M
$898.1K – $1.20M
NOI $71,844 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,638 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
206,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,309
Businesses Nearby
245k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Dining 27%
Apparel 18%
Groceries 17%
Walmart Neighborhood Market
Groceries
42,168 visits/mo
0.2 miles
Speedway
Shops & Services
29,681 visits/mo
0.1 miles
Dollar Tree
Shops & Services
28,785 visits/mo
0.2 miles
Old Navy
Apparel
16,064 visits/mo
0.1 miles
Starbucks
Dining
12,985 visits/mo
0.5 miles
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Albuquerque, NM
Frequently Asked Questions
What type of property is this?
Retail space - Fee-simple retail pad occupied by Visionworks and H&R Block within a Walmart Neighborhood Market-anchored center.
Where is this retail space located?
The property is located at 4910 Cutler Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,037,000.
What are key features of this property?
This property features: Two‑tenant retail pad occupied by Visionworks and H&R Block; 100% leased to Visionworks and H&R Block; Visionworks agreed to a 3‑year option through 6/30/2029, subject to final committee approval
