2-Tenant Pad Fronting Walmart & Old Navy

Highlights:

• 1. STRONG NATIONAL TENANTS
• VISIONWORKS: OPERATES 700 LOCATIONS AND A SUBSIDIARY TO VSP GLOBAL, THE LARGEST NON-PROFIT VISION BENEFITS PROVIDER IN THE U.S.
• H&R BLOCK: GLOBAL LEADER WITH OVER 1200 LOCATIONS WORLDWIDE, GENERATING $3.6 BILLION IN REVENUE FOR THE FISCAL YEAR 2024
• 2. LOCATED WITHIN WALMART GROCERY –ANCHORED CENTER – STRONG NATIONAL TENANT MIX
• 3. LONG TERM LEASES- VISIONWORKS RECENTLY EXERCISED A LEASE EXTENSION
• 4. LOCATED IN A HIGHLY DESIRABLE COMMERCIAL CORRIDOR WITH EXCELLENT ECONOMIC DRIVERS
• 5. LOCATED DIRECTLY OFF INTERSTATE 40 (200,000 VDP ) ALONG SAN MATEO BLVD & CUTLER AVE.(OVER 45,OO0 VPD) – EXCELLENT VISIBILITY AND ACCESS INVESTOR OWNS LAND AND BUILDING
• 6. STRONG DEMOGRAPHICS IN THE IMMEDIATE TRADE AREA – POPULATION OVER 123,000 AND 58,000 HOUSEHOLDS AND NEARLY 110,000 DAYTIME EMPLOYEES WITHIN 3 MILES

Description:

NEW MEXICO BROKER OF RECORD - DAN K. FRADY - License No. 14369
Faris Lee Investments is pleased to present an outstanding opportunity to acquire a highly visible retail pad within the thriving Pavilions at San Mateo grocery anchored center in Albuquerque, NM. Fully leased to nationally and regionally recognized tenants— H&R Block and Visionworks—this property offers exceptional stability and performance in a dynamic trade area with over 2.3 million annual visitors. Strategically positioned near Interstate 40, with traffic counts exceeding 200,000 vehicles per day (VPD), and along San Mateo Blvd NE & Cutler Ave NE , which sees over 45,000 VPD, the property enjoys superior visibility, accessibility, and consistent consumer traffic.
The tenants bring proven operational histories and market leadership. H&R Block is a global powerhouse with over 12,000 locations worldwide, generating $3.6 billion in revenue in fiscal year 2024. Visionworks, a subsidiary of VSP Global—the largest nonprofit vision benefits provider in the U.S.—operates more than 700 locations and continues to thrive under VSP’s backing since its 2019 acquisition. Long-term NNN leases reduce landlord responsibilities and ensure reliable income, while fee-simple ownership enhances long-term investment security.
Located within the 150,000-square-foot Walmart-anchored Pavilions at San Mateo, the property benefits from synergy with top-performing retailers, including Whole Foods Market (#1 in New Mexico with over 1 million annual visitors) and Target (#1 in New Mexico with over 2 million annual visitors). Its proximity to Coronado Center, New Mexico’s premier super-regional mall with nearly 10 million annual visitors, further solidifies the property’s position as a prime retail destination.
Crunch Fitness recently announced they are opening a $10 Million, 58,000 Sqft state of the art fitness facility in the former BBB / BuyBaby space across the street in the Plaza San Mateo center.
Situated within five miles of Downtown Albuquerque, a $40 billion economic hub, and just 10 miles from Albuquerque International Airport , the property captures demand from a robust demographic base of over 123,000 residents and 109,000 employees within a three-mile radius.
This investment combines tenants with proven growth and operational histories, minimal management responsibilities, and a prime location within a thriving retail corridor. With stable cash flow and long-term growth potential, this property represents a rare opportunity to acquire a valuable retail asset in Albuquerque, NM.


Albuquerque, NM, offers an exceptional quality of life, blending rich cultural heritage with breathtaking natural landscapes and a welcoming community spirit. Nestled between the Sandia Mountains and the Rio Grande, the city is celebrated for its year-round sunshine, stunning sunsets, and outdoor activities like hiking, biking, and hot-air ballooning, showcased by the world-renowned Albuquerque International Balloon Fiesta. Its diverse arts and music scene, vibrant Southwestern cuisine, and deep-rooted Native American, Hispanic, and Anglo traditions create a culturally rich and inclusive environment. The city’s low cost of living, tight-knit community, and seamless blend of urban amenities with natural beauty make it an ideal place to live, work, and thrive.
Albuquerque is also a city on the rise, experiencing steady economic growth across multiple industries. Aerospace and defense, anchored by Sandia National Laboratories and Kirtland Air Force Base, remain significant drivers, while healthcare systems, renewable energy initiatives, and a burgeoning technology sector continue to expand. The film industry has gained momentum, attracting major studios and productions. The city’s strategic location in the Southwest, combined with a skilled workforce and robust infrastructure, has spurred a surge in commercial activity and business investment. Albuquerque’s balanced growth, emphasis on innovation, and commitment to economic diversification position it as a promising hub for both residents and businesses.