111 Coors NW Blvd Albuquerque, NM 87121-2006

Property Details for 111 Coors NW Blvd

Year built

1978

Lot size

9.15 lot acres

Property size

74,212 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

1-010-057-442-332-1-01-01

APU

101005744233210101

Description

This exceptional investment opportunity presents the Coors Central Shopping Center, a 72,576 square foot multi-tenant retail center located at 111 Coors Blvd NW in Albuquerque, New Mexico. Shadow anchored by a high-performing Smith's (Kroger) grocery store, this property boasts a 92% occupancy rate and a strong net operating income (NOI) of $836,770, representing a 7.50% cap rate. The asking price is $11,157,000, translating to $153.73 per square foot. Situated on a 9.89-acre lot at a hard corner intersection with traffic exceeding 54,000 cars daily, the center benefits from high visibility and convenient access to Interstate 40. The diverse tenant mix includes long-term occupants with many exceeding 25 years of tenancy, such as Family Dollar, Sally Beauty, and H&R Block. Recent additions of investment-grade tenants like Chase and dd's Discounts (Ross Stores, Inc.) further solidify the center's financial strength and leasing momentum. This stabilized investment offers significant in-place income and is priced well below replacement cost, presenting a rare opportunity to acquire a grocery-shadow anchored center in a growing Albuquerque trade area with abundant parking. The staggered lease rollovers and history of high renewal rates contribute to the long-term predictability and cash flow stability of this property.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Longitude

-106.713

Latitude

35.0819

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments