Alfredo Barrenechea alfredo@go-absolute.net 505-401-0135 For Sale - Destination Shopping Center in Rio Rancho, NM Features: Sale Price: $1,785,000 # of Units: 16 Destination Location in Rio Rancho Assumable Financing NOI* : $160,500 Occupancy: 100% Excellent Occupancy History Excellent Visibility to 40,100 VDP (HWY 528) Cap Rate: 9.00% Building Size: ±14,419 SF Excellent Maintenance History High Parking Ratio (6.11/1000 SF) Estimated ROI: 15.54% Land: ± 1.20 Acres Brand 20 year roof in 2016 Excellent Signage (3 sign locations per unit) Strong Tenant Mix Low Lease Rates allow for upside * Includes 5.00% vacancy factor Absolute Investment Realty 105 Jefferson St. NE Albuquerque, NM 87108 The information contained herein is believed to be reliable. While we do not doubt the accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
Immediate Trade Area Absolute Investment Realty has been selected to exclusively represent the owner in the sale of Lujan Plaza, a centrally located multi-tenant shopping center in one of the fastest growing cities in the US, Rio Rancho, NM. SITE Lujan Plaza Lujan Plaza serves as a hub location for small businesses along the busy NM HWY 528 commuter corridor. The property enjoys great visibility and easy access to 528 via Barbara loop and an access drive immediately west of the center. It is well maintained with a brand new 20 year TPO roof, new stucco, and attention to heating/cooling comfort. Tenants enjoy monument signage on Deborah, as well as building signs facing 528 and in front of their individual suite. This center is a staple in Rio Rancho. Featuring affordable rents, and an excellent location Lujan Plaza spurs the growth of its tenants. Several of the tenants have been in this location for many years and have become a fixture in the community. Nearby Tenants include all major national brands: Walmart, Smiths, McDonalds, CVS, Walgreens, Taco Bell, Burger King and many more.
Financial Analysis Nearly always fully occupied, Lujan Plaza provides the savvy investor with a low-risk opportunity to acquire one of the most frequented destination locations in Rio Rancho, New Mexico. The property consists of 16 units varying in size between 531 sf and 1,500 sf. With low rent and staggered leases, the buyer of this asset will have the piece of mind of steady income and the opportunity to improve rents and occupancy. Lujan Plaza is professionally managed with no known deferred maintenance. Recent capital improvements include new 20 year TPO roof, parking lot improvements, stucco, and building signage. Existing debt can be assumed. See broker for details & more information. Operating Expenses & Financing Analysis. Potential ROI: 15.54% Operating Expense Detail Expense $/SF $/Mo $/Yr Common Utilities (Water, Sewer, Electric) $0.65 $778 $9,339 General Repairs $1.01 $1,209 $14,511 Property Taxes $1.01 $1,208 $14,493 Insurance $0.31 $349 $4,519 Management Fees $0.52 $619 $7,423 Total Operating Expenses $3.50 $4,163 $50,285 Financial Summary Actual Gross Rental Income - 2017 $171,908.84 Operating Expense Reimubrsement $50,044.50 Total Annual Income 2017 $221,953.34 Market Vacancy Factor $11,097.67 5.00% Adjusted Gross Income $210,855.67 Annual Operating Expenses $50,284.50 Net Operating Income $160,571.17 Financing Assumptions Purchase Price $1,785,000 Down Payment $446,250 25% Loan Balance $1,338,750 Rate 4.75% Amortization Period 25Years Loan Payment [per mo, per yr] $7,602 $91,228 Cash Flow [per mo, per yr] $5,779 $69,343 Estimated ROI 15.54% Financing terms are for illustration purposes only and vary greatly depending on borrower, buyer credit, and lender.
Rent Roll Rental Income & Operating Expense Reimbursement Unit Monthly Annual Lease Lease Unit Type Use Trade Name Sqft Rent Annual Rent Rent/Sqft CAM Deposit Begin End 1 A retail Retail Aftermarket Auto Parts 1,500 $1,000.00 $12,000.00 $8.00 $5,250.00 $1,355.00 12/1/2016 1/31/2020 2 B retail Retail Velocity Wellness 1,100 $916.67 $11,000.00 $10.00 $3,850.00 $1,100.00 4/1/2017 6/30/2020 3 C retail Retail Indigo Aestethics 800 $466.67 $5,600.04 $7.00 $2,560.00 $666.67 10/15/2016 9/30/2019 4 D retail Massage Health Spa & Chinese Massage 700 $875.00 $10,500.00 $15.00 $2,450.00 $1,500.00 8/1/2011 8/31/2018 5 E restaurant Restaurant El Maguey Restaurant 1,500 $1,250.00 $15,000.00 $10.00 $5,250.00 $1,416.25 7/1/2016 12/31/2020 6 F retail Dry Cleaner House of Dry Cleaning 545 $761.25 $9,135.00 $16.76 $1,907.50 $650.00 5/1/2011 4/30/2019 7 G retail - service Shoe Repair Rio Rancho Shoe and Boot Repair 531 $690.56 $8,286.72 $15.61 $1,858.50 $525.00 4/1/2011 4/30/2017 8 H retail - service Tailor House of Tailors - Rock Rio 751 $937.13 $11,245.56 $14.97 $2,628.50 $1,000.00 11/1/2010 7/31/2019 9 I retail Retail Shop Girl 530 $445.42 $5,345.04 $10.08 $1,855.00 $445.42 7/1/2017 6/30/2019 10 J retail Beef Jerky Jerky by Art 545 $567.71 $6,812.52 $12.50 $1,907.50 $659.00 4/1/2015 6/30/2020 11 K retail Marial Arts GMA Olympic Taekwondo Academy 1,450 $1,091.25 $13,095.00 $9.03 $5,075.00 $0.00 2/26/2017 3/31/2020 13 L retail Childrens Hair Cuts Kidz Place 658 $684.95 $8,219.40 $12.49 $2,303.00 $850.00 8/1/2011 7/31/2017 * 14 M retail Hiar, Nails, Spray Tans, Lash's Beauty Artistry 893 $720.00 $8,640.00 $9.68 $3,125.50 $820.00 1/1/2017 2/28/2019 15 N retail Retail / Office Lighthouse Financial 864 $1,062.13 $12,745.56 $14.75 $3,024.00 $972.00 5/21/2014 5/31/2019 16 O-P restaurant Restaurant Namaste Cuisine of India and Nepal 2,000 $2,857.00 $34,284.00 $17.14 $7,000.00 $2,500.00 6/1/2011 5/31/2019 Total Actual 14,367 $14,325.74 $171,908.84 $11.97 $50,044.50 $13,104.34 *Renewal Pending
Site Close Up and Tenant Summary Aftermarket Parts Velocity Wellness El Maguey Shop Girl GMA Taekwondo Academy Suite A. Aftermarket Auto Parts sells automotive accessories for custom & classic cars. Suite B. Velocity Wellness sells health related products Suite C. Indidgo Aesthetics Custom Skin Care sells a variety of skin scare products and services. Suite D. Health Spa Chinese Massage is a massage therapy day spa with a focus in wellness and holistic treatments. Suite E. El Maguey restaurant offers the wonderful flavors of old Mexico. Its ample "platillos" deliver a breakfast, lunch or dinner vacation of old world cuisine. Suite F. House of Dry Cleaning has been in business for more than 10 years and offers same day service with low prices and careful attention to detail. Suite G. Rio Rancho Shoe and Boot Repair is family owned and operated and has operated in this location for over 30 years. Suite H. House of Tailors, in suite H, does custom sewing and alterations Suite I. Shop Girl. Boutique selling modern womens fashion. Suite J. Jerky by Art has 4 locations in New Mexico. They make and distribute beef jerky in many exciting flavors. Suite K. Taekwondo Academy. Martial arts classes for all ages. Beauty Artistry Suite L. Kidz Place and Haircut is a fun place for kids to get a haircut. Suite M. Beauty Artistry. Salon & Nails Suite N. Lighthouse Financial provide loans, financial services and pay day loans. Suite O. Namaste is a popular destination restaurant serving Indian and Nepalese cuisine. They now have 2 locations in New Mexico.
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Rio Rancho, NM Trade Area Trade Area Demographics Radius 1 Mile 3 Mile 5 Mile Population (2014 Estimate) 8,454 70,035 136,318 Avg HH Income (2014) $63,372 $76,431 $76,041 SITE Rio Rancho, NM Rio Rancho is positioned in the northwest quadrant of the Albuquerque Metropolitan Area and directly in the path of growth for the MSA. Since the 1990s, Rio Rancho has taken steps to become more independent from neighboring Albuquerque, including the establishment of separate school and library systems and attempts to attract businesses to the area. The opening of a large Intel Corporation plant in 1981 had a major economic impact on the city. The city's latest project is the Downtown City Centre development that includes a new city hall building, a new UNM West and CNM campus as well as the Santa Ana Star Center. Recently Presbyterian Hospital invested $165M in the opening of the Rust Medical Center Hospital in Rio Rancho. Rio Rancho is the fastest growing city in New Mexico, the economic hub of Sandoval County, and the third largest city in New Mexico. As of the 2010 census, Rio Rancho had a population of 87,521, a tremendous 69% rise from 2000. In 2012, the city had an estimated population of 90,818.
Rio Rancho MSA SITE SITE Rio Rancho, NM New Mexico
Albuquerque / Rio Rancho MSA Albuquerque is located in the Rio Grande Valley, and is shadowed by the majestic Sandia Mountains. The metro area has a population of approximately 900,000 people with a projected growth rate of 7.2% over the next 2.5 years. Rio Rancho, a suburb of Albuquerque with a population of 89,900, has experienced explosive growth of over 65% from 2,000 2010, is the fastest growing city in New Mexico, and one of the fastest growing cities in the United States. Albuquerque MSA Demographics Population (2015 Estimate) 907,679 Households (2015 Estimate) 357,434 Avg. Household Income (2015 Estimate) $65,193 Albuquerque is home to the University of New Mexico (UNM) and the University of New Mexico Hospital (UNMH) which together employ 20,210 people. Kirtland Air Force Base and Sandia National employ a high-tech, educated work force of about 23,000 people. Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande river valley. Some key technology based employers include Sandia National Laboratories, Intel, Raytheon, Northrup Grumman, and Titan Aerospace (recently purchased by Google). Albuquerque is a regional center for transportation, health care and medical services, government agencies, nuclear research, banking, and tourism. Albuquerque is host to the world famous Albuquerque International Balloon Fiesta which draws over 1,000,000 visitors per year. Albuquerque is less than 1 hour from the world famous tourist destination of Santa Fe, has year round outdoor activities and consistently wins awards for quality of life, and low cost of living,. Albuquerque is ranked as one of Forbes Best Cities for Business.