Pavilions at San Mateo - (H&R Block - VisionWorks)

Highlights:

• 2-Credit tenant retail pad - part of Walmart anchored center - 2.2 Million annual visitors
• 100% Leased to strong, nationally and regionally recognized tenants - Visionworks and H&R Block
• H&R Block - A global leader with over 12,000 locations worldwide, generating $3.79 billion in revenue for fiscal year 2025
• Prime street-front retail pad offering superior visibility and accesibility
• Located within Wal-Mart anchored shopping center
• Situated in the 150,000 square foot Pavilions at San Mateo attracting over 3 million annual visitors.
• Positioned near Interstate 40 with traffic counts exceeding 206,000 VPD.

Description:

New Mexico Broker of Record: Lee Langen REMAX License No. 19241
Faris Lee Investments is pleased to offer the rare opportunity to acquire the fee-simple interest in a highly visible, 2-Credit tenant retail pad located within The Pavilions at San Mateo, a premier Walmart Neighborhood Market-anchored community center in the central core of Albuquerque. Reinforcing the strength and stability of this location, the separate parcel pad is 100% leased to strong, nationally recognized tenants: Visionworks and H&R Block. Demonstrating excellent leasing momentum and tenant commitment, Visionworks agreed to an early exercise of their 3-year option out to 6/30/2029, providing long-term income stability. High-profile retail pads within grocery-anchored centers continue to be one of the most resilient and sought-after product types for retail investors, driven by necessity-based demand and consistent daily traffic. The subject asset benefits from immense retail synergy, drawing from the 150,000-square-foot shopping center’s impressive 2.2 million annual visitors (Placer.ai), driven by core anchors Walmart Neighborhood Market, Five Below,( Recently Opened with Strong Sales) and Dollar Tree. This prime, retail pad offers superior visibility, on-site parking, and uncompromised ease of access. Investors will benefit from a NNN-leased structure with limited landlord responsibilities, as the tenants manage interior upkeep and HVAC maintenance while assuming responsibility for property taxes, insurance, and common area maintenance (CAM). This low-management setup delivers a stable, robust cash flow ideal for passive investors or 1031 exchange buyers, while providing strong tax benefits through cost segregation of both the land and building improvements.

Strategically located near the on/off ramp of Interstate 40 (over 206,000 VPD), the pad enjoys exceptional regional accessibility and visibility. The property is positioned at the high-traffic intersection of San Mateo Blvd NE and Cutler Ave NE (over 48,000 VPD), benefiting from multiple points of ingress/egress and significant street frontage. The center is also situated within a premier commercial corridor, just one mile from major regional economic drivers including, Coronado Center (9.8 million annual visitors), Winrock Town Center, and a newly opened $10 Million, 58,000-square-foot Crunch Fitness facility. The surrounding trade area features exceptional demographics, with over 116,000 residents, 54,000 households, and a daytime employment base of 113,000 employees within 3 miles. This high concentration of consumers positions this asset as a compelling opportunity to acquire a high-quality, stabilized pad with a powerful national tenant lineup in a premier central Albuquerque retail corridor.

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