Laramie Square is a 40,321-square-foot, multi-tenant neighborhood retail center located in Albuquerque, New Mexico. The center is currently 75 percent occupied with triple-net leases, providing upside potential to a future investor. Tenants are a complementary mix of internet-resistant, service-oriented businesses, including Silver Horizons, MJ Alta Vida Products, Academy Team Sales, Illest Cuts, Reef-Licious, Freedom Tax, 528 Sushi & Asian Cuisine, Metro East Insurance, Rainbow Laundry, Pretty Please, Lina Meng Massage, ABQ Coins, Tommy Wozniak, Peoples Tax Service, Jorge Sanchez, Duke City Accessories, Hometown Heroez, and Studio Blue. The center was originally constructed in 1957 and is situated on 2.63 acres with paved parking. The subject property has three double-sided monument signs strategically placed near the roadway, providing additional exposure to the center.
Laramie Square is positioned on San Mateo Boulevard NE with corner intersections at both Arvilla Avenue and Aztec Road, and just one lot east of the signalized intersection with Candelaria Road NE. The center is easily accessible from multiple ingress and egress points. Cumulative traffic counts exceed 40,544 vehicles per day. Nearby national and regional retailers include NAPA Auto Parts, The UPS Store, O’Reilly Auto Parts, Batteries Plus, Starbucks, Chick-fil-A, Raising Cane’s, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, and many others. The area benefits from an extremely dense population of more than 319,860 residents within a five-mile radius. The daytime employment population is more than 257,433 employees within a five-mile radius.
- 40,321-Square-Foot, Multi-Tenant, Neighborhood Retail Center
- Value-Add Opportunity | 75% Occupied | Significant Upside Potential in Leasing Vacant Suites
- All Current Leases are Triple-Net | Tenant Base Features a Complementary Mix of Internet-Resistant and Service-Oriented Businesses
- Many Leases have Annual Rent Increases, Providing Year-Over-Year Growth Potential
- Current Average Rents are Well Below Market
- Three Double-Sided Monument Signs Positioned Along the Entrance Points Provide Additional Exposure
- Priced at $97 Per Square Foot | Well Below Replacement Cost
- Near the Signalized Intersection of San Mateo Boulevard NE and Candelaria Road NE | Cumulative Traffic Counts are Approximately 40,544 Vehicles per Day
- Well Positioned to Serve a Community of More than 319,860+ Residents Within a Five-Mile Radius and a Large Daytime Workforce of 257,433+ Within Five Miles
- Nearby Traffic Drivers such as NAPA Auto Parts, The UPS Store, O’Reilly Auto Parts, Batteries Plus, Starbucks, Chick-fil-A, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, and Others
- Albuquerque Was Ranked “Best Places To Visit In New Mexico” by U.S. News & World in 2021
- City Population of 564,500 People | Ranked As The 4th Largest City in Southwestern United States | Home to Kirtland Air Force Base, Corporate Headquarters for Intel New Mexico, University of New Mexico (32,340+ Students and Employees), and More
