111 Coors Blvd NW
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111 Coors Blvd NW
72,576 SF 92% Leased Retail Building Albuquerque, NM 87121 $11,157,000 ($154/SF) 7.50% Cap Rate
Investment Highlights
- Smith’s (Korger) shadow anchored shopping center
- Abundant parking
- Strong retail corridor with convenient access to Interstate 40
- Strong leasing momentum with newer, longer-term leases from investment grade tenants Chase and dd’s Discounts (Ross Stores, Inc)
- Long tenured tenants with history of high renewal rates
- Multiple access points in and out of the center
Executive Summary
Flanagan Investment Real Estate is pleased to offer for sale the Coors Central Shopping Center, located at 111 Coors Blvd NW in Albuquerque, NM. The multi-tenant retail center is shadow anchored by a high performing Smith’s (Kroger) grocery store. With convenient access to Interstate 40 and the southwest quadrant of Albuquerque, it services a wide and underserved trade area. This area of Albuquerque continues to see robust residential growth as the City expands.
The approximately +/- 72,576 sq. ft. building is situated on about +/- 9.89 acres and offers abundant parking along with high visibility from both Coors Blvd and Central Ave. The property sits on the hard corner with traffic counts exceeding 54,000 cars per day.
Coors Central Shopping Center features a diverse mix of tenants with staggered rollovers. The property features long tenured tenants with a history of high renewal rates. Many tenants have tenures over 25 years including Family Dollar, Sally Beauty, and H&R Block among others. In addition, the center has had strong leasing momentum with newer, long-term leases from investment grade credit tenants Chase and dd’s Discounts (Ross Stores, Inc).
This investment benefits from a diverse mix of tenants with a history of high renewal rates, visibility from two major thoroughfares,
and its coveted location. In addition, Coors Central Shopping Center offers significant in-place income and is priced well below
replacement cost. This is a rare opportunity to purchase a grocery shadow anchored center. The attributes listed above, combined
with the significant cash flow and long-term predictability make this property an opportunity on which an investor can capitalize.
The approximately +/- 72,576 sq. ft. building is situated on about +/- 9.89 acres and offers abundant parking along with high visibility from both Coors Blvd and Central Ave. The property sits on the hard corner with traffic counts exceeding 54,000 cars per day.
Coors Central Shopping Center features a diverse mix of tenants with staggered rollovers. The property features long tenured tenants with a history of high renewal rates. Many tenants have tenures over 25 years including Family Dollar, Sally Beauty, and H&R Block among others. In addition, the center has had strong leasing momentum with newer, long-term leases from investment grade credit tenants Chase and dd’s Discounts (Ross Stores, Inc).
This investment benefits from a diverse mix of tenants with a history of high renewal rates, visibility from two major thoroughfares,
and its coveted location. In addition, Coors Central Shopping Center offers significant in-place income and is priced well below
replacement cost. This is a rare opportunity to purchase a grocery shadow anchored center. The attributes listed above, combined
with the significant cash flow and long-term predictability make this property an opportunity on which an investor can capitalize.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
72,576 SF
Building Class
C
Year Built
1989
Price
$11,157,000
Price Per SF
$154
Cap Rate
7.50%
NOI
$836,775
Percent Leased
92%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.17
Land Acres
9.89 AC
Opportunity Zone
Yes
Zoning
MX-M - Mixed Use Moderate Intensity
Parking
736 Spaces (10.14 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Restaurant Space
Restaurant buildout available for lease.
| Space | Size | Space Use | Position | Available |
| E10 | 2,633 SF | Retail | In-Line | Now |
| E11 | 3,000 SF | Restaurant | In-Line | Now |
E10
| Size |
| 2,633 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
E11
| Size |
| 3,000 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
E10
| Size | 2,633 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Restaurant Space
E11
| Size | 3,000 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | Now |
Restaurant buildout available for lease.
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,947,635 | |
| Land Assessment | $1,534,966 | Total Assessment | $3,482,601 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,534,966
Improvements Assessment
$1,947,635
Total Assessment
$3,482,601
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Cole Flanagan -
Jake Mechenbier -
Flanagan Investment Real Estate
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