11001 Menaul Blvd Albuquerque, NM 87112

This Albuquerque, New Mexico retail property, located at 11001 Menaul Blvd NE, zip code 87112, offers a compelling investment opportunity. The 93,302 square foot shopping center features a diverse mix of 13 tenants, including a Walmart Neighborhood Market, Harbor Freight, dd's Discounts, Einstein Bagels, AT&T, GameStop, and Sally Beauty, with Hibbett Sports soon to open. Built in 1973 and renovated in 2023, the property consists of two single-story buildings and boasts a 98% occupancy rate as of June 30, 2024. The current Net Operating Income (NOI) is $926,442, with a pro-forma NOI projected at $1,296,997. The property is situated on a fee-simple ownership basis with a triple net (NNN) lease structure. Rent bumps are included in several leases. The property also includes a 0.5-acre pad site suitable for a drive-thru restaurant, presenting significant future upside potential. The strong tenant mix, predominantly national credit tenants, generates reliable cash flow and significant customer traffic, exceeding one million visits annually. This Core+ investment opportunity is situated in a high-demand area of Albuquerque, serving a substantial population with high household incomes. The property's location at the signalized intersection of Menaul Boulevard and Juan Tabo Boulevard ensures high visibility and accessibility.