1530-1540 Tramway Blvd NE
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1530-1540 Tramway Blvd NE
14,001 SF 100% Leased Retail Building Albuquerque, NM 87112 $2,065,755 ($148/SF) 7.50% Cap Rate
Investment Highlights
- 100% leased neighborhood retail strip center with brand new long term leases
- Replaceable rents and priced below replacement cost
- Anchored by CVS and Walgreens and backs up to the beautiful Sandia Mountains
- Recession proof tenants with Snap Fitness, Balanced Physical Therapy, and Waggin' Tails Dog Grooming
- Great demographics in the immediate area - 17,000+ population & $73,000 average income
Executive Summary
Skyview Center is a CVS anchored neighborhood retail center located at the intersection of Tramway and Indian School. Skyview has been an integral part of the Monte Largo Hills neighborhood since 1987 and continues to bring fitness, pharmacy, dog grooming, event space and more to the same community today. With a brand new 10 year lease for Snap Fitness, a new 5 year lease for Balanced Physical Therapy and a 5 year renewal for Waggin’ Tails Dog Grooming, this property is ready for a new owner to benefit from the consistent cashflow for years to come. Skyview is set within a beautiful green campus and has a backdrop of the Sandia Mountains. The Skyview Center is a condominium and does not include The View Event Center as part of the sale.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
14,001 SF
Building Class
B
Year Built
1987
Price
$2,065,755
Price Per SF
$148
Cap Rate
7.50%
NOI
$154,932
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Land Acres
2.32 AC
Zoning
MX-M
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
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1530-1540 Tramway Blvd NE
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