Cinema Center - Destination Restaurant Center for Sale ...€¦ · Restaurants are expensive to...

Alfredo Barrenechea505-401-0135

[email protected] Investment Realty | 131 Madison NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Cinema Center – Destination Dining Oriented Shopping Center for Sale4959 Pan American FWY, Albuquerque, NM 87109

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Features:

Busy Freeway Location

Serves the Highest Daytime Population in the MSA

High Quality Modern Design & Construction



Freeway Access

Strong National & Local Co-Tenants

Long Term Tenants

Successful Location

Building Size: +/- 11,957 SF

Land Size: +/- 0.7673 Acres

Occupancy: 100%

Number of Suites: 5

Sale Price: $3,742,500

Cap Rate: 7.25%

NOI: $271,335.20



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Property Overview

Property Highlights

Disclaimer: The information contained in this marketing package is believed to be reliable. Whilewe do not doubt the accuracy, we have not verified it and make no guarantee, warranty orrepresentation about it. It is your responsibility to independently confirm its accuracy andcompleteness. Additionally, this package and the information contained herein is intended onlyfor parties with a bonified interest in the lease or purchase of this property and should not bedistributed otherwise.

Property Address: 4959 Pan American FWY Albuquerque, NM 87109

Property Description: Restaurant Oriented Shopping Center

Year Built: 2003

Title: Fee Simple

Building Size: (+/-) 11,957 Square Feet

Property Size: (+/-) 1.065 Acres

Number of Units: 5

Number of Tenants: 5

Total Leased Space: 100%

Parking: 73 stalls

Access: Excellent – Multiple Access Points

Signage: Excellent – Building and On-Street Monument

Location Description: Busy Freeway Restaurant Corridor



Absolute Investment Realty has been chosen as the exclusiverepresentative of the owner of the Cinema Center – a destination diningoriented shopping center located in the heart of the North I-25 Corridorin Albuquerque, NM, directly across from the largest movie theatre in thestate (Century Rio 24). The property consists of 5 restaurant spaces.Restaurants are expensive to build and is one of the highest demandretail uses.This trade area contains the highest concentration of office squarefootage in the state of NM and some of the highest traffic counts in thestate.The well-maintained property is an Albuquerque landmark and featuresoutstanding architectural details making it a long-term draw from acrossthe city.






Investment Overview

Pricing Summary

Cinema Center is a high-quality, low-maintenance, stabilized shopping center

investment asset with multiple long-term corporate credit and local tenants.

The property has excellent occupancy history and several of the tenants have

been at the center since it was built.

The property is fee-simple and part of a larger 3 building complex consisting

of 2 large-scale full-size restaurants. All tenants at the property are

restaurants. Suites C (Crackin’ Crab), D (Tokyo Bangkok), E(GiGi’s Italian

Bistro) all have full restaurant infrastructure including vent hoods and

independent grease traps. The property is finished with high-quality

materials inside and out.

The Property is 100% leased and tenants reimburse 100% of the center’s

operating expenses.

NOI for the center is currently $271,335 based on total gross income of

$333,000 and operating expenses (2018) are $65,812.

This well maintained investment is the perfect opportunity for an exchange

buyer looking for easy “mail-box” income and pride of owning a trophy

property in a high-quality location. The Property is located in a busy restaurant trade area. Co-tenants include:Cinemark Century Rio 24 screen theater, Pappadeux, Red Robin, Costco,Sam’s Club, Home Depot, Cheddars, Fudruckers, PF Chang’s, etc.


NOI $271,335.20

Cap Rate 7.25%

Value $3,742,500



Financial Highlights



Property Type: Restaurant Oriented Shopping Center

Anchor Tenant(s): Cold Stone Creamery, Subway

Total Number of Tenants: 5

Total Number of Units: 5

Vacant Spaces: 0

Total Leaseable Area: 11,957 SF

Total Leased Space: 11,957 SF

Total Vacant Space: 0 SF

Gross Income: $331,100

Expenses: $65,812.57

NOI: $271,335.20

Cap Rate: 7.25%




Trade Area Map



SITE

SITE

Del Norte High School

Arroyo Del Oso Golf Course

Trade Area DemographicsRadius 1 Mile 3 Mile 5 Mile

Population (2019 Estimate) 13,834 100,945 271,670

Avg HH Income (2019) $45,528 $63,981 $69,350

Consumer Spending $107,978,000 $998,224,000 $2.8 B

Businesses 1,471 9,355 22,264SITE




Immediate Trade Area



SITE




Site Close Up

LOCATION DESCRIPTION



The property is located just off I-25(159,200 VPD) near the Jefferson overpassand has signage visible from the freeway.The property is accessible from thefrontage road, and Office Blvd and isadjacent to the city’s most popularshopping and dining destinations and thestates largest movie theater.

SITE

Great Signage






Site Plan






Cold Stone Creamery has come a long way since their humble beginnings in 1988. Cold Stone started with one store in Tempe, AZ before franchising in 1994. Cold Stone now has locations globally, 5 being right here in Albuquerque. From milkshakes to ice cream cakes, there's no way Cold Stone can’t cure that sweet tooth. The only thing Cold Stone cares about more than providing excellent frozen treats is giving back. Cold Stone has done fundraisers for schools, charities, and Best Buddies, a non profit that creates opportunities for people who have intellectual or developmental disabilities. https://www.coldstonecreamery.com/

Subway is one of the leading sandwich chains in the world with more than 44,400 locations in 113 countries. Having an endless amount of sandwich combinations, Subway can cater to everyone’s needs. While making mouth watering sandwiches is their main business, Subway also does a lot for their community and their planet. One example is that they help their 20,000 Franchisees implement known technologies to lower their energy footprint or GHG emissions. https://www.subway.com/en-US

Crackin’ Crab is a local Seafood Boil restaurant with 3 locations in Albuquerque. Between the soft shell crab, fried oysters, and outstanding service, it is easy to see how Crackin’ Crab has 4.5/5 stars on yelp. https://crackincrababq.com/

Tokyo Bangkok restaurant has operated in the Albuquerque area since 2009, originally opening it’s doors as Sushi King. Tokyo Bangkok specializes in Asian style food known for it’s large portions and relaxed atmosphere. The restaurant features a classic sushi bar and serves beer, wine and sake. https://www.sushikingandasiankitchen.com/

Gigi Italian Bistro is a fun place to get delicious Italian style pizza, pasta, and salad. A unique fact about Gigi’s is that one of their very own chefs, Robert Hesse, appeared on seasons 5 and 6 of the hit show, Hell’s Kitchen. With 4/5 stars on Google review, Gigi Italian Bistro is a must when in Albuquerque. https://www.giginm.com/

Tenant Profiles




https://www.coldstonecreamery.com/

https://www.subway.com/en-US

https://crackincrababq.com/

https://www.sushikingandasiankitchen.com/

https://www.giginm.com/


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Parking

Absolute Investment Realty | 131 Madison NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Credit Anchor Tenants

Busy Location

Standout Architecture

Property Photos





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+/- 20 Parking Stalls

Parking

Absolute Investment Realty | 131 Madison NE Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Businesses (1 mi)

Daytime Employees (1 mi)

Consumer Spending Totals (1 mi)

Demographics




Albuquerque is located in the Rio Grande Valley, and is shadowed by the majesticSandia Mountains. With a population of approximately 900,000 people, the metroarea has a projected growth rate of 7.2% over the next 2.5 years. Rio Rancho, a suburbof Albuquerque with a population of 89,900, has experienced explosive growth of over65% from 2,000–2010, is the fastest growing city in New Mexico, and one of thefastest growing cities in the United States.

Albuquerque is home to the University of New Mexico (UNM) and the University ofNew Mexico Hospital (UNMH) which together employ 20,210 people. Kirtland AirForce Base and Sandia National employ a high-tech, educated work force of about23,000 people. Lying at the center of the New Mexico Technology Corridor,Albuquerque is ranked as one of Forbes Best Cities for Business, for its concentrationof high-tech private companies and government institutions along the Rio Granderiver valley. Some key technology based employers include Sandia NationalLaboratories, Intel, Raytheon and Northrup Grumman. Albuquerque is a regionalcenter for transportation, health care, government agencies, nuclear research, andtourism.

Albuquerque is host to the world famous Albuquerque International Balloon Fiestawhich draws over 1,000,000 visitors per year. Less than one hour away is the HistoricalCity of Santa Fe, which has year round outdoor activities, it also holds awards forquality of life, and low cost of living,.

Albuquerque, NM MSA






Absolute Investment Realty Who We AreAbsolute Investment Realty is an investment orientedcommercial real estate brokerage firm focused on helping ourclients meet their commercial real estate investment goals. Ourclients range from private local investors to multi-nationalREITs. We have closed transactions throughout the United Statesand have clients from around the world. No job is too small ortoo large for our dedicated team of professionals. We are expertson current market conditions and can advise our clients on thebest pricing and buying or selling strategies. We have industrywide connections and make it a policy to work hand in hand withour peers, principals and institutions to get the deal done. We aresecond to none in our ability to identify, sell or lease investmentquality real estate.

Our MissionAbsolute Investment Realty’s mission is to help our clientsachieve their commercial real estate goals.

Our firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.

We start by understanding our client’s needs and working closelywith them to develop a customized acquisition, disposition,leasing or development plan specifically designed to help ourclients reach their goals as expeditiously as possible.

Awarded to the top 5 brokerage firms in NM, AbsoluteInvestment Realty has achieved the coveted Costar Power BrokerAward every year we’ve been in business.

Alfredo Barrenechea

Qualifying Broker

Alfredo specializes in the acquisition and disposition of investment real estateand has experience in closing large industrial, office, and hospitalitytransactions. With over 13 years of experience in the commercial real estateindustry as a developer, landlord and broker Alfredo has worked with nation’stop tenants, investors and real estate investment companies. Alfredo has apassion for helping his clients meet their real estate investing goals and excelsat closing complicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from the University of NewMexico and is a member of CARNM and ICSC.

Some of Alfredo’s Recent Transactions




http://www.go-absolute.net/



Disclaimer and ConfidentialityThis is a confidential marketing package indented solely for the reader’s use in determining its desire to express further interest in the lease or purchase of thisproperty, as appropriate. Additionally, this package and the information contained herein is not for public distribution and is intended only for parties with a bonifiedinterest in the lease or purchase of this property and should not be distributed otherwise.

The information contained in this marketing package is believed to be reliable. While the broker does not doubt the accuracy, it has not verified it and the broker andproperty owner make no guarantee, warranty or representation about it. It is the reader’s responsibility to independently confirm its accuracy and completeness. Allfinancial information contained herein is provided as a general reference and should not be treated as fact, but should be independently verified by the reader of thismaterial.

By receipt of this marketing package, the reader agrees to keep this package and all material contained herein strictly confidential and agrees to destroy or return thispackage to Absolute Investment Realty upon the readers determination it has no interest in leasing or purchasing the property. Additionally, the information containedherein is not be utilized to the detriment of the property owner, Absolute Investment Realty or its associated brokers, any tenant(s) of the property, or any other partyaffiliated with the property.

By receipt of this marketing package, the reader agrees it will not contact or approach the property owner without express permission of the broker. And further thatthe reader will not contact or approach the tenant(s) or operator(s) of the property, if any, without the express written permission of the property owner.

The property owner has absolutely no obligation to sell or lease the property to any person or entity regardless of proposed pricing or terms. Additionally, the propertyowner reserves the right, in it sole and absolute discretion, to reject any or all offers or expressions of interest to purchase or lease the property.






Cinema Center - Destination Restaurant Center for Sale ...€¦ · Restaurants are expensive to...

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