404 Romero St Albuquerque, NM 87104
This exceptional 3,200 square foot restaurant space presents a unique opportunity in the heart of the historic Old Town district. Situated in a destination-oriented setting with strong retail synergy and high tourism, this location offers a rare chance for a seasoned restaurant operator to establish a thriving business. The property boasts a flexible layout, adaptable to various culinary concepts. Two conceptual plans are available: Plan A features 1,691 square feet of indoor space and 1,523 square feet of outdoor seating (not included in the lease rate), while Plan B offers 2,320 square feet of indoor space and 880 square feet of outdoor seating (also not included in the lease rate). The property's indoor and outdoor settings create a unique dining experience that captures the vibrant atmosphere of Old Town. The lease rate is in the upper $40s per square foot, NNN, with a generous tenant improvement allowance. The landlord is open to exploring alternative lease structures for qualified tenants. This is a truly exceptional opportunity to capitalize on the limited number of eateries in this premier tourist destination. The property is currently vacant and ready for immediate occupancy.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
4 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.