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Pavilions at San Mateo Walmart Anchored Center

$28,204,000

4600 Cutler Ave NE, Albuquerque, NM 87110

Active
Last Updated: 10/05/2026

7

Cap Rate

1,974,288

NOI

Details:
Cap Rate:    7%
NOI:    $1,974,288
Building Size:    130,711 sqft
Lot Area:    11.6 acres
Class:    B
Year Built:    1996
Highlights:
  • Rare Opportunity to Acquire Highly Successful Walmart Grocery Anchored Center
  • Newly High Leveraged Loan – 72% LTV in place at Interest Only for Term
  • Significant Leasing Momentum & Anchor Lease Extensions Further Highlight the Strength of the Real Estate
  • Five Below recently opened exceeding Sale Expectations, Old Navy & Dollar extended their leases as well as Shoe Dept and Boofy’s Pet Store
  • Newly High Leveraged Loan in Place At Interest Only For the Entire Term
  • Regional Daily Needs Shopping Center that performs well regardless of the economic cycle and are not as exposed to the e-commerce threat
  • Walmart Anchored Neighborhood Center Serving Central Albuquerque Trade Area W/ Excellent I-40 Freeway Accessibility (206k VPD) To Surrounding Communities
  • Well Below Replacement Costs – Under $216/sf
  • Large Amount of Daytime Business With Over 113,000 Employees Within 3 Miles
  • Strong Population With Over 116,000 People Within 3 Miles
  • Good Consumer Counts With Over 54,000 Households Within 3 Miles
  • Large Amount Of Daytime Business With Over 113,000 Employees Within 3 Miles
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 The Pavilions at San Mateo, a Walmart Grocery–anchored community center in the central core of Albuquerque. Reinforcing the strength of this location, Walmart recently executed an extension through 2036, providing long-term income stability. Grocery-anchored shopping 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.

Significant leasing momentum & anchor lease extensions further highlight the strength of the real estate, evidenced by Five Below signing a new 10-year lease and Dollar Tree recently extending for 10 years as well as Old Navy & Shoe Dept. extending for 5 years. These national retailers complement a diverse merchandising mix of daily needs tenants that draws over 2.2 million visitors annually (Placer.ai). Furthermore, with a purchase price reflecting a cost basis under $216/SF, the offering provides a secure investment well below replacement cost, allowing for long-term rental growth and favorable returns.
The property features a newly placed loan at a 72% LTV. This highly attractive leverage with an interest rate of 6.86% interest-only for the complete term which significantly increases an investor cash-on-cash returns.

The surrounding trade area features exceptional demographics, with over 116,000 residents and a daytime employment base of 113,000 employees within 3 miles. This high concentration of consumers positions The Pavilions at San Mateo as a compelling opportunity to acquire a high-quality, stabilized asset with a powerful national tenant lineup in a premier central Albuquerque retail corridor.

Strategically located near the on/off ramp of Interstate 40 (±206,300 VPD), The Pavilions at San Mateo enjoys exceptional regional accessibility and visibility. The property is positioned at the high-traffic intersection of San Mateo Blvd NE and Cutler Ave NE (combined ±48,000 VPD), benefiting from multiple points of ingress/egress and significant street frontage.

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