3875 Cerrillos Rd | Santa Fe, NM 87507
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3875 Cerrillos Rd
Santa Fe, NM 87507
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 3811 (100% fee simple) & 3875 Cerrillos (leasehold interest - ground lease) being offered together 18,135rsf
EXECUTIVE SUMMARY
CBRE is pleased to offer to qualified investors the opportunity to acquire 100% fee simple interest in Plaza East Shopping Center (3811 Cerrillos Rd.) and leasehold interest in De Arcos Shopping Center (3875 Cerrillos Rd.) in Santa Fe, New Mexico. Comprised of primarily medical services tenancy, the properties offer an investor a predictable income stream from existing tenancy and upside value with lease-up potential.
Two (2) retail strip center buildings exceptionally positioned along major Santa Fe, NM arterial, Cerrillos Rd. (51,096 VPD). Both properties command unobstructed visibility and access.
Located along the premier retail corridor in the high growth south side of Santa Fe. These two in-line Strip Center buildings are a part of a larger Community Shopping Center. Surrounding tenants include: Lowe’s Home Improvement, Sprouts Farmers Market, Sam’s Club, Target, Albertson’s, Ulta Beauty, Five Below, TJ Maxx, Total Wine, Ross, Michael’s, Best Buy, PetSmart, Dillard’s, JC Penny, H&M. National Restaurant Area Retailers: Chili’s, Olive Garden, Buffalo Wild Wings & Panera Bread.
Plaza East and De Arcos Shopping Center are located in close proximity to a substantial concentration of existing and planned residential and commercial development on Santa Fe’s growing south side. Additionally, the properties are 3 miles f rom Interstate 25 & Cerrillos Rd. exit; the first exit to Santa Fe f rom Albuquerque.
Two (2) retail strip center buildings exceptionally positioned along major Santa Fe, NM arterial, Cerrillos Rd. (51,096 VPD). Both properties command unobstructed visibility and access.
Located along the premier retail corridor in the high growth south side of Santa Fe. These two in-line Strip Center buildings are a part of a larger Community Shopping Center. Surrounding tenants include: Lowe’s Home Improvement, Sprouts Farmers Market, Sam’s Club, Target, Albertson’s, Ulta Beauty, Five Below, TJ Maxx, Total Wine, Ross, Michael’s, Best Buy, PetSmart, Dillard’s, JC Penny, H&M. National Restaurant Area Retailers: Chili’s, Olive Garden, Buffalo Wild Wings & Panera Bread.
Plaza East and De Arcos Shopping Center are located in close proximity to a substantial concentration of existing and planned residential and commercial development on Santa Fe’s growing south side. Additionally, the properties are 3 miles f rom Interstate 25 & Cerrillos Rd. exit; the first exit to Santa Fe f rom Albuquerque.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,471 SF
Building Class
C
Year Built
1980
Price
$5,295,754
Price Per SF
$625.16
Cap Rate
7%
NOI
$370,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
1.40 AC
Opportunity Zone
Yes
Parking
62 Spaces (7.32 Spaces per 1,000 SF Leased)
Frontage
131’ on Cerrillos Rd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 099307033 | Improvements Assessment | $898,439 |
| Land Assessment | $225,129 | Total Assessment | $1,123,568 |
PROPERTY TAXES
Parcel Number
099307033
Land Assessment
$225,129
Improvements Assessment
$898,439
Total Assessment
$1,123,568
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