1601 Broadway Blvd SE

Albuquerque, NM 87102 | 0.5 Acres / 6,020 SF

$689,000.00

Investment Property For Sale


San Jose Plaza | 100% Occupied Retail Center | Stabilized Asset with Extended Leases

Array

Investment Property For Sale

Price $689,000.00
Size 0.5 Acres / 6,020 SF

Benefits

San Jose Plaza
1601 Broadway Blvd. SE
Albuquerque, NM 87102

 

Offering Summary

Purchase Price: $689,000
Price per SF: $114.45/SF
Net Operating Income: $50,443
Cap Rate: 7.32%
Lease Type: Modified Gross

 

Investment Highlights

  • 100% Occupied Retail Strip Center
  • Stabilized asset with recently extended leases
    – Long tenured tenants
    – Cricket, Metro by T-Mobile, and the laundromat have each recently signed five-year extensions
  • Building Size: ± 6,020 SF
  • Land Size: ± 0.48 acres
  • Low, replaceable lease rates with annual rent increases
    – Tenants reimburse Landlord for utility charges
  • Well maintained property with recent large capital expenditures exceeding $100,000
    – New roof (2018)
    – Building paint (2018)
    – Parking lot overlay (2018)
  • Diverse mix of tenants
  • Underserved and growing trade area
  • Strategically located near the major intersection of Avenida Cesar Chavez & Broadway Blvd with over 54,000 Cars Per Day

Location

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