111 Coors Blvd NW

Investment Highlights

Smith?s (Korger) shadow anchored shopping center Abundant parking Strong retail corridor with convenient access to Interstate 40 Strong leasing momentum with newer, longer-term leases from investment grade tenants Chase and dd?s Discounts (Ross Stores, Inc) Long tenured tenants with history of high renewal rates Multiple access points in and out of the center

Executive Summary

Flanagan Investment Real Estate is pleased to offer for sale the Coors Central Shopping Center, located at 111 Coors Blvd NW in Albuquerque, NM. The multi-tenant retail center is shadow anchored by a high performing Smith?s (Kroger) grocery store. With convenient access to Interstate 40 and the southwest quadrant of Albuquerque, it services a wide and underserved trade area. This area of Albuquerque continues to see robust residential growth as the City expands. The approximately +/- 72,576 sq. ft. building is situated on about +/- 9.89 acres and offers abundant parking along with high visibility from both Coors Blvd and Central Ave. The property sits on the hard corner with traffic counts exceeding 54,000 cars per day. Coors Central Shopping Center features a diverse mix of tenants with staggered rollovers. The property features long tenured tenants with a history of high renewal rates. Many tenants have tenures over 25 years including Family Dollar, Sally Beauty, and H&R Block among others. In addition, the center has had strong leasing momentum with newer, long-term leases from investment grade credit tenants Chase and dd?s Discounts (Ross Stores, Inc). This investment benefits from a diverse mix of tenants with a history of high renewal rates, visibility from two major thoroughfares, and its coveted location. In addition, Coors Central Shopping Center offers significant in-place income and is priced well below replacement cost. This is a rare opportunity to purchase a grocery shadow anchored center. The attributes listed above, combined with the significant cash flow and long-term predictability make this property an opportunity on which an investor can capitalize.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    72,576
• Building Class    C
• Year Built    1989
• Price    11,157,000
• Price Per SF    154
• Cap Rate    7.50
• NOI    836,775
• Percent Leased    92
• Tenancy    Multiple
• Building Height    1 Story
• Loading Docks    1 Exterior
• Building FAR    0.17
• Land Acres    9.89 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

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