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Stable Local Tenant Retail Investment 1619-1625 San Pedro Dr NE 5,560 SF 100% Leased Retail Building Albuquerque, NM 87110 $550,000 ($98.92/SF) 6.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased retail asset with stable local tenants.
- Modified gross leases with upside for NNN conversion.
- Zoned MX-M (Mixed-Use) with 100% occupancy and no vacancies.
- Located near Albuquerque’s Uptown trade area with strong visibility of 13,479 daily vehicles on San Pedro Drive.
- Diverse tenant mix driving built-in foot traffic.
EXECUTIVE SUMMARY
1619–1625 San Pedro Drive NE offers a stable, income-generating opportunity located just outside Albuquerque’s highly active Uptown trade area—home to the highest daytime population in New Mexico.
This fully leased, 5,560-square-foot, multi-tenant retail building features a diverse mix of local tenants, including a gym, dispensary, dog grooming salon, and tea shop—creating strong co-tenancy synergy and built-in foot traffic. The property fronts San Pedro Drive, which sees over 13,479 vehicles daily, providing excellent visibility.
There are no current vacancies; the nearest lease expiration is in 2027, with renewal options. All tenants are currently on modified gross leases, presenting future upside for an investor to convert to triple net (NNN) lease structures upon renewal or re-tenanting.
Initially constructed in 1962, the building is made of beige brick masonry and combines TPO and tar-and-gravel roofing. Each suite is equipped with a swamp cooler and radiant heating.
Signage includes individual building signage for each unit and a shared pylon sign with four tenant panels. This is an ideal opportunity for investors seeking a stable in-place income with long-term potential in one of Albuquerque’s most active retail corridors.
This fully leased, 5,560-square-foot, multi-tenant retail building features a diverse mix of local tenants, including a gym, dispensary, dog grooming salon, and tea shop—creating strong co-tenancy synergy and built-in foot traffic. The property fronts San Pedro Drive, which sees over 13,479 vehicles daily, providing excellent visibility.
There are no current vacancies; the nearest lease expiration is in 2027, with renewal options. All tenants are currently on modified gross leases, presenting future upside for an investor to convert to triple net (NNN) lease structures upon renewal or re-tenanting.
Initially constructed in 1962, the building is made of beige brick masonry and combines TPO and tar-and-gravel roofing. Each suite is equipped with a swamp cooler and radiant heating.
Signage includes individual building signage for each unit and a shared pylon sign with four tenant panels. This is an ideal opportunity for investors seeking a stable in-place income with long-term potential in one of Albuquerque’s most active retail corridors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,560 SF
Building Class
C
Year Built
1962
Price
$550,000
Price Per SF
$98.92
Cap Rate
6.70%
NOI
$36,850
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.51
Lot Size
0.25 AC
Zoning
MX-M - Mixed Use - Moderate Intensity
Parking
14 Spaces (2.52 Spaces per 1,000 SF Leased)
Frontage
73’ on San Pedro Dr
AMENITIES
- Pylon Sign
Walk Score®
Very Walkable (76)
Bike Score®
Biker's Paradise (90)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1-018-058-251240-3-38-06 | Improvements Assessment | $142,151 |
| Land Assessment | $24,414 | Total Assessment | $166,565 |
PROPERTY TAXES
Parcel Number
1-018-058-251240-3-38-06
Land Assessment
$24,414
Improvements Assessment
$142,151
Total Assessment
$166,565
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Stable Local Tenant Retail Investment | 1619-1625 San Pedro Dr NE
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