2440 San Mateo Pl Albuquerque, NM 87110
- Lifestyle centers
- 27,055 SF
- 1.45 lot acres
Current Use by Public Records
- Wonderland Hair Studio / Hair Salon
- BEAUTY BY JACKIE / Beauty Salon
Property Details for 2440 San Mateo Pl
- Lot size
- 1.45 lot acres
- Property size
- 27,055 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Albuquerque, New Mexico shopping center presents a compelling investment opportunity. Located at 2440 San Mateo Pl NE, 87110, this stabilized, 100% occupied property boasts 27,055 square feet of net rentable space across nine units within a single, one-story building. The property sits on a 1.45-acre lot, offering ample parking (99 spaces per 1,000 sq ft) and significant potential. Currently generating a Net Operating Income (NOI) of $193,185, with a pro-forma NOI of $215,000, this investment offers a strong 10.19% cap rate and a pro-forma cap rate of 11.35%. The asking price is $1,895,000, translating to $70.04 per square foot. The property features a Modified lease type with ten tenants and is zoned MX-M. The land value is $73.78 per square foot, and the property includes 27,055 square feet of air rights. This prime location at the intersection of San Mateo and I-40 provides excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a high-performing retail asset in a thriving market. The property's strong tenant base and high occupancy rate ensure a stable and predictable income stream. This is a rare opportunity to acquire a well-maintained, fully occupied shopping center with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Bernalillo
- State
- New Mexico
- Longitude
- -106.586
- Latitude
- 35.1072
