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Applebees 4246 Cerrillos Rd 6,488 SF Retail Building Santa Fe, NM 87507 $1,946,000 ($299.94/SF)
Investment Highlights
- Irreplaceable Cerrillos Rd restaurant location as an outparcel of the Santa Fe Place Mall
- Santa Fe features high average household incomes ($96,575), dense population (58,214) within 3 miles and over two million tourists per year
- Strong retail trade area adjacent to the Plaza Santa Fe
- Less than 3.5% vacancy for retail product in Santa Fe with even fewer existing options for second generation restaurants
Executive Summary
Applebee’s has elected not to renew their lease here at 4246 Cerrillos Rd and the property will be available to purchase or lease May 1, 2027. Please do not disturb tenant. This second generation sit-down restaurant was constructed in 1997, fully renovated in 2022 and represents a prime Santa Fe Place Mall outparcel opportunity that has been locked down for decades. The property features an oversized parking lot with over 10:1 parking sitting on 1.52 acres and easy ingress/egress from Cerrillos Rd and through the mall up to Rodeo Dr.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,488 SF
Building Class
B
Year Built/Renovated
1997/2022
Price
$1,946,000
Price Per SF
$299.94
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.51 AC
Zoning
SC3 - Planned Shopping Center District (Regional)
Parking
69 Spaces (10.64 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Applebee's began in 1980 as a neighborhood-style restaurant concept in Decatur, Georgia, and later evolved into Applebee's Neighborhood Grill + Bar. The company develops, franchises, and operates casual dining restaurants centered on American grill-and-bar fare, including burgers, chicken, salads, pasta, ribs, and drinks. Applebee's maintains a broad presence across North America, Latin America, and the Middle East, with a large global restaurant network and ongoing franchise growth and refranchising activity.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 6,488 SF
- Restaurant
- -
- May 2027
| Space | Size | Space Use | Position | Available |
| 1st Floor | 6,488 SF | Restaurant | - | May 2027 |
1st Floor
| Size |
| 6,488 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| May 2027 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 018601531 | Improvements Assessment | $562,149 |
| Land Assessment | $549,861 | Total Assessment | $1,112,010 |
Property Taxes
Parcel Number
018601531
Land Assessment
$549,861
Improvements Assessment
$562,149
Total Assessment
$1,112,010
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