4360 Cutler Ave Albuquerque, NM 87110

Property Details for 4360 Cutler Ave

Year built

2014

Lot size

0.82 lot acres

Property size

8,949 SF

Property type

Retail space

APN

1-017-059-214-103-3-09-03

APU

101705921410330903

Description

This exceptional 12,706 square foot, single-story shopping center in Albuquerque, New Mexico, presents a compelling investment opportunity. Located at 4360 Cutler Ave NE, this property boasts 100% occupancy across four tenants, including a prominent, multi-location shooting range anchor. Three of the four tenants, comprising 89% of the rentable space, recently renewed their leases, demonstrating strong commitment and center viability. The remaining tenant has a lease with 1.5 years remaining. The property features 150 parking spaces and sits on a 0.817-acre lot, with excellent freeway visibility off Interstate 40. Its prime location, just 1.5 miles from major shopping centers like Coronado Center, Winrock Center, and Uptown Shopping Center, ensures a robust customer base. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $288,286, resulting in a 7.5% capitalization rate (based on May 2024 - April 2025 projections). Built in 2014, this NNN-leased property offers a stable income stream with built-in 3% annual rent bumps. The asking price of $3,844,000 equates to $302.53 per square foot, a price point below replacement cost. The majority owner of the center also owns the anchor tenant, ensuring a long-term partnership and stability for the property. The property is zoned NR-C. This is a rare opportunity to acquire a high-performing, multi-tenant retail center in a desirable Albuquerque location.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Longitude

-106.597

Latitude

35.1047

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments