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

$2,200,000

4910 Cutler Ave NE, Albuquerque, NM 87110

Active
Last Updated: 06/19/2026

6.25

Cap Rate

137,482

NOI

Details:
Cap Rate:    6.25%
NOI:    $137,482
Building Size:    4,998 sqft
Lot Area:    0.4603 acres
Class:    C
Units:    5
Year Built:    1996
Highlights:
  • 2-Tenant retail pad within major shopping center - 2.3 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:

Faris Lee Investments is pleased to offer the rare opportunity to acquire the fee-simple interest in a highly visible, 2-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 and regionally recognized tenants: Visionworks and H&R Block. Demonstrating excellent leasing momentum and tenant commitment, Visionworks has agreed to an early exercise of their 3-year option out to 6/30/2029 (subject to final committee approval), 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 2.3 million annual visitors (Placer.ai), driven by core anchors Walmart Neighborhood Market, Five Below, and Dollar Tree (which attract over 3 million visitors). This prime, street-front 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.

High-visibility retail pad within the Walmart Neighborhood Market-anchored Pavilions at San Mateo, located at the intersection of San Mateo Blvd NE and Cutler Ave NE with direct access to Interstate 40.

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