1530-1540 Tramway Blvd Albuquerque, NM 87112

Property Details for 1530-1540 Tramway Blvd

Year built

1987

Lot size

2.32 lot acres

Property size

14,001 SF

Property type

Retail properties

Property subtype

Retail space

Description

This Albuquerque, NM retail center, located at 1530-1540 Tramway Blvd NE, offers a compelling investment opportunity. The 14,001 square foot property sits on a 2.32-acre lot and boasts a 7.50% cap rate with a Net Operating Income (NOI) of $154,931.62. Currently 100% occupied by three tenants—Snap Fitness (with a new 10-year lease), Balanced Physical Therapy (new 5-year lease), and Waggin’ Tails Dog Grooming (5-year renewal)—this stabilized investment features recession-resistant businesses. Built in 1987, the single-building property is zoned MX-M and benefits from a prime location in the Northeast Heights submarket, visible from Tramway Blvd. The area is characterized by a high concentration of residential homes, with approximately 40% of Albuquerque's residents living within a 5-mile radius, and an average household income of $73,000 within 1 mile. The asking price is $2,065,754, translating to a land value of $147.54 per square foot. The property is a condominium and excludes the View Event Center. This is a rare opportunity to acquire a well-positioned, high-performing retail center with strong long-term lease agreements. The property is anchored by CVS and Walgreens and enjoys a beautiful backdrop of the Sandia Mountains.