11001 Menaul Blvd, Albuquerque, NM 87112
93,302 SF | 100% Leased | Retail Building | Albuquerque, NM 87112 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
- Square Feet
- 93,302 SF
Listing Contacts
Bill Rose
Verified Profile
Parker Wada
Verified Profile
Reed Hamilton
Verified Profile
- Property Info
Property Overview
Institutional Property Advisors has been selected to exclusively market for sale the fee simple interest in Foothills Center located at the signalized intersection of Menaul Boulevard and Juan Tabo Boulevard in Albuquerque, New Mexico. The offering includes an existing 93,302 square feet of gross leasable area and a separate parcel suitable for a drive-thru quick serve restaurant. The Center is one of the most frequent visitor locations in the established Sandia Foothills.
The Center is 98% occupied by Walmart Neighborhood Market (WMT), Harbor Freight, dd’s Discounts (ROSST), Einstein Bagels, AT&T, GameStop (GME), Sally Beauty (SBH) and soon to open Hibbett Sports (HIBB). The retail mix of everyday essential goods generates over one million customer visits annually and generates 80% reliable credit tenant cash flow on triple net lease structures. Several leases are open to Fair Market Rent Uplift adjustments upon expiration and the property includes a 0.5-acre pad site creating future upside potential.
The Center is 98% occupied by Walmart Neighborhood Market (WMT), Harbor Freight, dd’s Discounts (ROSST), Einstein Bagels, AT&T, GameStop (GME), Sally Beauty (SBH) and soon to open Hibbett Sports (HIBB). The retail mix of everyday essential goods generates over one million customer visits annually and generates 80% reliable credit tenant cash flow on triple net lease structures. Several leases are open to Fair Market Rent Uplift adjustments upon expiration and the property includes a 0.5-acre pad site creating future upside potential.
Property Details
- Class
- C
- Year Built/Renovated
- 1974/2023
- Stories
- 1
- Lot Size (sq. ft)
- 375,052 SF
Highlights
- TOP RANKED GROCERY CENTER – Walmart Neighborhood Market draws over 1 million consumers.
- NATIONAL CREDIT TENANTS – 83% of the gross leasable area is Occupied by national & regional credit tenants with long-term operating success.
- RELIABLE CASH FLOW – 79% of the net operating income is generated by investment grade tenants on triple net lease structures.
- VALUE-ADD – Separate drive thru parcel available at market rent.
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