Retail Strip Center
5161 Lang Ave NE, Albuquerque, NM 87109
For Sale
$3,930,000
Shadow-anchored strip center positioned near Bass Pro Shops within the Journal Center submarket.
Property Size8,685 SF
Price / SF$452.50
Days on Market163
Property Features for 5161 Lang Ave NE
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Cap Rate
Building Details
Year Built
Listing Agency:
CBRE
Listed By:
Jim Dountas · License NM #45995
(505) 228-5771
Source:
Carnm.resimplifi
Added: Jun 1
Changed: Oct 25
Last Checked: Nov 10 at 5:09AM
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 CBRE
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Investment Insights
Based on property information with market context.
This one-of-a-kind retail strip center investment is being offered in the north Albuquerque Journal Center submarket. The property is described as shadow anchored by a top Bass Pro Shops, with the surrounding area characterized by Class A office and multi-family development.
Located at 5161 Lang Ave NE in Albuquerque, the center is positioned to serve both nearby residents and consumers traveling for the Bass Pro experience. The asset is presented as Legacy @ Journal Center Shops and is offered to buyers seeking a retail investment tied to an established regional draw.
The offering is presented at a 7.5% cap rate and is described as providing predictable annual cash on cash return. For investors or retail-oriented buyers, this asset’s configuration around a major anchor draw may be relevant when evaluating submarket retail demand and tenant positioning in a retail strip environment.
Located at 5161 Lang Ave NE in Albuquerque, the center is positioned to serve both nearby residents and consumers traveling for the Bass Pro experience. The asset is presented as Legacy @ Journal Center Shops and is offered to buyers seeking a retail investment tied to an established regional draw.
The offering is presented at a 7.5% cap rate and is described as providing predictable annual cash on cash return. For investors or retail-oriented buyers, this asset’s configuration around a major anchor draw may be relevant when evaluating submarket retail demand and tenant positioning in a retail strip environment.
Key Highlights
- Retail strip center investment built in 2017
- Shadow‑anchored strip center positioned near Bass Pro Shops in the Journal Center submarket
- Offered at a 7.5% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,843
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,496,860
$2.5M
Cap Rate 7%
$1,783,471
$1.8M
Cap Rate 9%
$1,387,144
$1.4M
Market Conditions
NOI Build-Up for 8,685 SF
Gross rent
$192.8K $22.20/SF
− Vacancy
−$14.5K −$1.67/SF
EGI
$178.3K $20.54/SF
− OpEx
−$53.5K −$6.16/SF
NOI
$124.8K $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%
$2,496,860
Cap Rate 7%
$1,783,471
Cap Rate 9%
$1,387,144
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,843 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,075 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,643
Businesses Nearby
365k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Apparel 25%
Home Improvements & Furnishings 15%
Dining 11%
Target
Superstores
130,028 visits/mo
0.3 miles
Cabela's
Apparel
90,283 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
48,095 visits/mo
0.4 miles
Freddy's Frozen Custard & Steakburgers
Dining
23,507 visits/mo
0.5 miles
Courtyard Albuquerque
Hotels & Casinos
14,033 visits/mo
0.2 miles
Demographics for 87109, NM
40,740
Population
20,826
Households
2
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
4,074
Density / Sq Mi
$56,295
Median Household Income
$41,798
Median Earnings
$1,112
Median Rent
$298,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albuquerque, NM
Frequently Asked Questions
What type of property is this?
Strip mall - Shadow-anchored strip center positioned near Bass Pro Shops within the Journal Center submarket.
Where is this strip mall located?
The property is located at 5161 Lang Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,930,000.
What are key features of this property?
This property features: Retail strip center investment built in 2017; Shadow‑anchored strip center positioned near Bass Pro Shops in the Journal Center submarket; Offered at a 7.5% cap rate
