Shops 528 | 100% Occupied Retail Center Offering · - Over 36,000 cars per day on Hwy 528 - Hwy 528...

Shops 528 | 100% Occupied Retail CenterNewer Construction | Premier Location | Long-Term Leases | National Tenants

Cole Flanagan, CPA, MBAcell 505 235 7585 [email protected]

Jake Mechenbiercell 505 917 5514 [email protected]

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6801 Jefferson St. NE, Suite 200 | Albuquerque NM 87109 office 1 505 878 0001 | www.IPArealty.com

A division of NAI Maestas & Ward

OfferingMemorandum

3611 NM-528, Albuquerque, NM 87114

https://youtu.be/lW6OWXfy0zk

https://youtu.be/lW6OWXfy0zk

Offering Memorandum | 2A division of NAI Maestas & Ward

ConfidentialDisclaimer

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving from NAI Maestas & Ward and should not be made available to any other person or entity without the written consent of NAI Maestas & Ward. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

NAI Maestas & Ward has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NAI Maestas & Ward has not verified, and will not verify, any of the information contained herein, nor has NAI Maestas & Ward conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Principal of property seller is a licensed NM real estate broker and is selling this property for his own account.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A NAI MAESTAS & WARD ADVISOR FOR MORE DETAILS.


InvestmentHighlights

Investment Property Advisors is pleased to offer for sale a 100% occupied strip center located at 3611 NM-528 in Albuquerque, NM. NM-528 is a heavily trafficked thoroughfare and is only one of seven river crossings in Albuquerque which connects the east and west sides of the city. The property is located in the heart of the Cottonwood trade area which is the only regional trade area on the west side of Albuquerque. Nearby retailers include Starbucks, Lowe’s, Chick-Fil-A, Michaels, Dick’s Sporting Goods, Wal-Mart, and Home Depot among many others. This busy trade area has strong daily traffic counts and also services a dense residential and employment population.

The approximately ±14,424 sq. ft. building is situated on about ±1.69 acres. The center features newer construction and was built in 2017. Two of the newer tenants include Domino’s (new 10-year lease) and the U.S. Government (tenant invested over $565,000 for the build-out of their space at their cost). The property features a diverse mix of strong-performing national, regional, and local tenants with staggered lease rollovers.

This investment benefits from the national credit tenants, diverse tenant mix, and the substantial in-place income. The property also boasts two new leases which speak to its marketability. This property is strategically located in the premier trade area, Cottonwood, to maximize its potential. The strong real estate fundamentals of Shops 528 make this property an opportunity on which an investor can capitalize.

Shops 528

Offering Summary

Purchase Price $6,256,000

Net Operating Income $437,917

Cap Rate 7.00%

Lease Type NNN

� 100% occupied retail center

� Anchored by national credit tenants

� Newer construction - Built in 2017

� Building Size: ±14,424 SF

� Land Size: ±1.69 acres

� Significant in-place cash flow - 7% Cap Rate with a 5% vacancy factor

� Stabilized asset with new leases - Domino’s recently signed a 10-year lease - U.S. Government recently signed a 5-year lease (U.S. Government invested over $565,000 for the build out of their space at their sole cost)

� Significant traffic counts with excellent visibility - Over 36,000 cars per day on Hwy 528 - Hwy 528 is a river crossing - Large pylon sign on Hwy 528 - Signalized hard corner

� Premier location - Site is located in the heart of the Cottonwood trade area - Only regional trade area on the west side of Albuquerque

� Long-term, predictable cash flow

� Diverse mix of national, regional, and local tenants with staggered lease rollovers


Square Footage: ±14,424 SF

Amount $ / SF

Current Projected Rent $472,327 32.75

Expense Reimbursements

US Government Tenant Specific Reimbursements $35,154 2.44

Operating Expense Reimbursements $91,966 6.38

GROSS SCHEDULED RENT $599,446 41.56

Vacancy (5%) ($29,972) (2.08)

ADJUSTED GROSS INCOME $569,474 39.48

Estimated Operating Expenses

Property Taxes $25,886 1.74

Insurance $4,081 0.28

Property Management $25,890 1.79

Accounting Fees $1,500 0.10

Advertising Fees $350 0.02

Bank Fees $11 0.00

Snow Removal $600 0.04

R&M - Landscaping $7,560 0.52

R&M - Landscape Changes $1,000 0.07

R&M - Powerwash $1,900 0.13

R&M - Exterior Building $1,800 0.12

R&M - Window Washing $1,200 0.08

R&M - Exterior Lights $800 0.06

R&M - Alarm Monitoring $984 0.07

R&M - HVAC Maintenance $4,020 0.28

R&M - Plumbing/Backflow Testing $300 0.02

R&M - Sidewalks/Parking Lot $500 0.03

R&M - Irrigation $400 0.03

Fire System - Inspection $800 0.06

Utilities - Electric $1,800 0.12

Utilities - Refuse $8,400 0.58

Utilities - Water/Sewer $7,416 0.51

TOTAL OPERATING EXPENSES $96,403 6.68

US Government Tenant Specific Expenses $35,154 2.44

NET OPERATING INCOME $437,917 30.36

Operating Summary

ATI Physical Therapy was founded in 1996 in Willowbrook, IL. It has since grown and progressed to hundreds of clinics all across the country. ATI Physical Therapy is the largest physical therapy brand name in the United States but they pride themselves on a small practice, family-like atmosphere.

The United States of America (Government) operates recruiting offices for the Army, Navy, Air Force, and Marines at Shops 528. Each branch has a unique mission and place in United States military history. The main functions of the recruiting offices are to attract people to and select them for training and employment. These offices are essential to the United States of America.

U.S. GovernmentT-Mobile West LLC is a subsidiary of T-Mobile USA, Inc. The company is headquartered in Bellevue, WA and was founded in 1995. It offers telecommunication services and voice and data services to customers. T-Mobile merged with Sprint in 2020 and operates one of the largest wireless networks in the United States.

Exotic Nails is a full service nail salon that offers a variety of services. Their wide variety of services range from acrylic nail options to waxing, all of which are done by their highly skilled and friendly technicians.

Old School New Styles Barbershop was founded in 2014 by Manuel Rasoon and Irene Leaton. The shop has become extremely popular due to the quality and wide variety of haircuts that are provided in the modern shop. Prior to founding the barbershop, Manuel worked at several barbershops in building a loyal customer following. Old School New Styles Barbershop has one other location in Rio Rancho.

Domino’s is an American multinational pizza restaurant chain founded in 1960. The pizza chain was founded in 1960 by Tom and James Monaghan. Domino’s menu offers pizza, chicken wings, sandwiches and pasta among other items. Rio Grande Pizza, Inc is a long tenured franchisee of Domino’s with numerous locations. Domino’s has more than 17,000 locations throughout the world and continues to grow.

Exotic Nails

TenantHighlights


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CPD 34,103

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Las Tiendas Las Tiendas Retail CenterRetail Center

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La Cantera La Cantera ApartmentsApartments

Vistas at Seven Vistas at Seven Bar RanchBar Ranch

ABQ Police ABQ Police SubstationSubstation

Cibola Cibola High SchoolHigh School

CPD 36,981

CPD 66,000

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Cottonwood Cottonwood DentalDental

Acequia Animal Acequia Animal HospitalHospital

Cottonwood Cottonwood OrthodonticsOrthodontics

CPD 10,817

Exotic Nails

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Los Ranchos Los Ranchos de Albuquerquede Albuquerque

Rio RanchoRio Rancho

CorralesCorrales

1 Mile 2 Mile 3 Mile

Demographic and Income ProfileShops 528 Prepared by Esri3611 NM 528 NW, Albuquerque, New Mexico, 87114 Latitude: 35.20778Ring: 1 mile radius Longitude: -106.65129

Summary Census 2010 2020 2025Population 6,553 7,588 8,021Households 3,137 3,638 3,840Families 1,667 1,840 1,910Average Household Size 2.09 2.09 2.09Owner Occupied Housing Units 1,223 1,276 1,326Renter Occupied Housing Units 1,914 2,362 2,514Median Age 33.6 35.2 36.5

Trends: 2020-2025 Annual Rate Area State NationalPopulation 1.12% 0.54% 0.72%Households 1.09% 0.57% 0.72%Families 0.75% 0.39% 0.64%Owner HHs 0.77% 0.59% 0.72%Median Household Income 0.47% 1.11% 1.60%

2020 2025 Households by Income Number Percent Number Percent

<$15,000 338 9.3% 350 9.1%$15,000 - $24,999 465 12.8% 472 12.3%$25,000 - $34,999 543 14.9% 562 14.6%$35,000 - $49,999 676 18.6% 706 18.4%$50,000 - $74,999 601 16.5% 643 16.7%$75,000 - $99,999 374 10.3% 412 10.7%$100,000 - $149,999 419 11.5% 473 12.3%$150,000 - $199,999 104 2.9% 106 2.8%$200,000+ 117 3.2% 116 3.0%

Median Household Income $44,299 $45,352Average Household Income $64,940 $67,735Per Capita Income $30,155 $31,413

Census 2010 2020 2025 Population by Age Number Percent Number Percent Number Percent

0 - 4 455 6.9% 483 6.4% 521 6.5%5 - 9 369 5.6% 436 5.7% 449 5.6%10 - 14 335 5.1% 400 5.3% 418 5.2%15 - 19 408 6.2% 393 5.2% 447 5.6%20 - 24 756 11.5% 658 8.7% 714 8.9%25 - 34 1,091 16.6% 1,395 18.4% 1,256 15.7%35 - 44 843 12.9% 1,008 13.3% 1,184 14.8%45 - 54 847 12.9% 831 11.0% 854 10.6%55 - 64 786 12.0% 902 11.9% 896 11.2%65 - 74 428 6.5% 696 9.2% 759 9.5%75 - 84 176 2.7% 299 3.9% 413 5.2%

85+ 61 0.9% 84 1.1% 108 1.3%Census 2010 2020 2025

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 4,600 70.2% 5,042 66.4% 5,184 64.6%Black Alone 221 3.4% 258 3.4% 277 3.5%American Indian Alone 461 7.0% 638 8.4% 736 9.2%Asian Alone 154 2.3% 201 2.6% 227 2.8%Pacific Islander Alone 7 0.1% 7 0.1% 7 0.1%Some Other Race Alone 763 11.6% 995 13.1% 1,100 13.7%Two or More Races 348 5.3% 447 5.9% 491 6.1%

Hispanic Origin (Any Race) 2,535 38.7% 3,259 42.9% 3,634 45.3%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2020 and 2025.

August 06, 2020

©2020 Esri Page 1 of 6





<$15,000 338 9.3% 350 9.1%$15,000 - $24,999 465 12.8% 472 12.3%$25,000 - $34,999 543 14.9% 562 14.6%$35,000 - $49,999 676 18.6% 706 18.4%$50,000 - $74,999 601 16.5% 643 16.7%$75,000 - $99,999 374 10.3% 412 10.7%$100,000 - $149,999 419 11.5% 473 12.3%$150,000 - $199,999 104 2.9% 106 2.8%$200,000+ 117 3.2% 116 3.0%



0 - 4 455 6.9% 483 6.4% 521 6.5%5 - 9 369 5.6% 436 5.7% 449 5.6%10 - 14 335 5.1% 400 5.3% 418 5.2%15 - 19 408 6.2% 393 5.2% 447 5.6%20 - 24 756 11.5% 658 8.7% 714 8.9%25 - 34 1,091 16.6% 1,395 18.4% 1,256 15.7%35 - 44 843 12.9% 1,008 13.3% 1,184 14.8%45 - 54 847 12.9% 831 11.0% 854 10.6%55 - 64 786 12.0% 902 11.9% 896 11.2%65 - 74 428 6.5% 696 9.2% 759 9.5%75 - 84 176 2.7% 299 3.9% 413 5.2%

85+ 61 0.9% 84 1.1% 108 1.3%Census 2010 2020 2025

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 4,600 70.2% 5,042 66.4% 5,184 64.6%Black Alone 221 3.4% 258 3.4% 277 3.5%American Indian Alone 461 7.0% 638 8.4% 736 9.2%Asian Alone 154 2.3% 201 2.6% 227 2.8%Pacific Islander Alone 7 0.1% 7 0.1% 7 0.1%Some Other Race Alone 763 11.6% 995 13.1% 1,100 13.7%Two or More Races 348 5.3% 447 5.9% 491 6.1%



August 06, 2020






<$15,000 864 7.3% 876 7.2%$15,000 - $24,999 983 8.3% 971 7.9%$25,000 - $34,999 1,177 9.9% 1,190 9.7%$35,000 - $49,999 1,818 15.3% 1,824 14.9%$50,000 - $74,999 2,246 18.9% 2,265 18.5%$75,000 - $99,999 1,507 12.7% 1,534 12.5%$100,000 - $149,999 1,876 15.8% 2,031 16.6%$150,000 - $199,999 686 5.8% 741 6.1%$200,000+ 703 5.9% 796 6.5%



0 - 4 1,588 6.2% 1,592 5.7% 1,675 5.8%5 - 9 1,592 6.2% 1,611 5.8% 1,616 5.6%10 - 14 1,687 6.6% 1,652 5.9% 1,647 5.7%15 - 19 1,652 6.4% 1,532 5.5% 1,551 5.4%20 - 24 1,866 7.3% 1,827 6.6% 1,745 6.1%25 - 34 3,392 13.2% 4,145 14.9% 4,173 14.6%35 - 44 3,466 13.5% 3,558 12.8% 3,963 13.8%45 - 54 3,974 15.5% 3,590 12.9% 3,388 11.8%55 - 64 3,441 13.4% 3,892 14.0% 3,728 13.0%65 - 74 1,823 7.1% 2,878 10.3% 3,083 10.8%75 - 84 879 3.4% 1,173 4.2% 1,612 5.6%

85+ 350 1.4% 430 1.5% 481 1.7%Census 2010 2020 2025

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 19,511 75.9% 20,233 72.6% 20,326 70.9%Black Alone 731 2.8% 813 2.9% 855 3.0%American Indian Alone 1,078 4.2% 1,407 5.0% 1,609 5.6%Asian Alone 565 2.2% 690 2.5% 754 2.6%Pacific Islander Alone 20 0.1% 21 0.1% 21 0.1%Some Other Race Alone 2,626 10.2% 3,261 11.7% 3,541 12.4%Two or More Races 1,183 4.6% 1,453 5.2% 1,555 5.4%



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<$15,000 2,374 8.4% 2,366 8.1%$15,000 - $24,999 2,254 8.0% 2,197 7.6%$25,000 - $34,999 2,521 8.9% 2,508 8.6%$35,000 - $49,999 4,042 14.3% 4,059 14.0%$50,000 - $74,999 5,336 18.9% 5,389 18.5%$75,000 - $99,999 3,694 13.1% 3,743 12.9%$100,000 - $149,999 4,593 16.2% 4,991 17.2%$150,000 - $199,999 1,640 5.8% 1,783 6.1%$200,000+ 1,840 6.5% 2,043 7.0%



0 - 4 4,264 6.6% 4,282 6.1% 4,493 6.2%5 - 9 4,466 6.9% 4,432 6.3% 4,507 6.2%10 - 14 4,521 7.0% 4,527 6.4% 4,640 6.4%15 - 19 4,168 6.4% 4,180 5.9% 4,216 5.8%20 - 24 3,957 6.1% 4,319 6.1% 4,130 5.7%25 - 34 8,258 12.7% 9,181 13.1% 9,553 13.2%35 - 44 8,805 13.5% 9,047 12.9% 9,791 13.6%45 - 54 9,758 15.0% 9,054 12.9% 8,556 11.9%55 - 64 8,188 12.6% 9,480 13.5% 8,936 12.4%65 - 74 4,673 7.2% 7,101 10.1% 7,690 10.7%75 - 84 2,720 4.2% 3,229 4.6% 4,138 5.7%

85+ 1,220 1.9% 1,454 2.1% 1,546 2.1%Census 2010 2020 2025

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 48,915 75.3% 50,677 72.1% 50,885 70.5%Black Alone 1,809 2.8% 2,082 3.0% 2,211 3.1%American Indian Alone 2,607 4.0% 3,299 4.7% 3,780 5.2%Asian Alone 1,435 2.2% 1,765 2.5% 1,900 2.6%Pacific Islander Alone 74 0.1% 79 0.1% 78 0.1%Some Other Race Alone 7,311 11.2% 8,882 12.6% 9,621 13.3%Two or More Races 2,845 4.4% 3,500 5.0% 3,722 5.2%



August 06, 2020


Demographics1, 2 & 3 Miles


Offering Memorandum | 11

The Cottonwood trade area is the only regional trade area on the west side of Albuquerque. It is home to Cottonwood Mall, a million plus square foot shopping mall anchored by major retailers which include Hobby Lobby, Dillard’s, J.C. Penney, as well as more than 135 specialty stores.

The trade area is located in one of Albuquerque’s most prominent submarkets. The area has some of the highest traffic counts in the city given its retail draw from all over the city and metropolitan area. The Cottonwood trade area is located west of the Rio Grande and will continue to experience both residential and commercial growth for the foreseeable future. Albuquerque can no longer grow to the north, south, and east due to barriers of constraint which include: Sandia Reservation, Kirtland Airforce Base and Sandia National Labs, and the Sandia Mountains.

The trade area has the full spectrum of local and national tenants from its restaurants to retailers. The area encompasses the largest concentration of retail in Albuquerque’s west side. It also happens to be Albuquerque’s fastest growing residential and commercial trade area. Other major retailers in the trade area include Costco, Sam’s Club, Kohl’s, The Home Depot, Lowes, Petco, Bed Bath and Beyond, Wal-Mart, and Dick’s Sporting Goods to name a few.

Not only are there many retailers in the trade area, but it also includes Intel which employs over 2,500 individuals. It is also home to Cibola High School, an Albuquerque Public School with more than 2,100 students making it the largest high school in New Mexico.

The multifamily sector plays a major role in the growth of this particular trade area. There are four very large complexes located within the trade area: Cottonwood Ranch Apartments (472 units), Vistas @ 7 Bar Apartments (572 units), River Walk/La Paz (500 units), Broadstone Solaire (249 units), and Broadstone Cottonwood (254 units). This area is experiencing a large amount of growth both from a commercial and residential standpoint.

Cottonwood Trade AreaOverview

A division of NAI Maestas & Ward


AlbuquerqueMETRO AREATrade Area Analysis

Albuquerque | Why Here? Why Now?Located near the geographic center of New Mexico at the intersection of I-25 and I-40 and resting at the foot of the Sandia Mountains, Albuquerque is the state’s most populous city and one of the most livable in the U.S. The city serves as a major transportation and shipping hub for the Southwest, with BNSF Railway, air cargo from Albuquerque International Sunport airport, and a commuter train running from Belen to Santa Fe. Albuquerque is home to the International Balloon Fiesta, the world’s largest gathering of hot-air balloons. A talented workforce, a business-friendly environment, a community rooted in history and a high quality of life make Albuquerque hard to beat.

ALBUQUERQUE HEALTHCARE.ALBUQUERQUE HEALTHCARE. Is the center of health care excellence in NM. University of Is the center of health care excellence in NM. University of NM is a nationally recognized Class 1 research institution. NM is a nationally recognized Class 1 research institution. There are 1,943 licenced hospital beds in metro area There are 1,943 licenced hospital beds in metro area

Top 8 Reasons to choose Albuqueque

Invest in Albuquerque � Low-Risk Location

� Skilled Workforce

� Business Incentives

� The Metro Area Communities

� Quality of Life

� Cost of Living

� Innovation Central

� On the cutting edge of Technology

UTAH

TEXAS

OKLAHOMA

COLORADO

ARIZONA40

25

Santa FeAlbuquerque

Las Cruces Albuquerque

Bernalillo

Albuquerque Metro

Rio Rancho

Los Lunas

Belen

40

40

25

Albuquerque City

Albuquerque

25

New Mexico

Albuquerque City by the numbers (ESRI 2017 Demographics)

653,761 City Population

$67,029 Average Household Income

261,158 Households

$40,404 Median Disposable Income

27,083 Total Businesses

368,764 Total Employees

922,914 Albuquerque

Meto Population

The Largest

City in the State

ALBUQUERQUE EDUCATION | SKILLED WORKFORCE ALBUQUERQUE EDUCATION | SKILLED WORKFORCE Ranks top in nation for cities with the most college graduates, Ranks top in nation for cities with the most college graduates, 69,000 college students reside in metro area, has one of the 69,000 college students reside in metro area, has one of the largest # of PhDs per capita in the nationlargest # of PhDs per capita in the nation

COMPETITIVE BUSINESS CLIMATECOMPETITIVE BUSINESS CLIMATE Low energy costs, low property taxes, affordable real estate Low energy costs, low property taxes, affordable real estate and cost of living, a qualified/productive workforce, aggressive and cost of living, a qualified/productive workforce, aggressive incentives, efficient market accessincentives, efficient market access

Ranked 6th in America’s favorite cities list - Travel + Leisure

Ranks among America’s best cities for global trade - Global Trade Magazine

The 5th most cost-friendly city to do business in the U.S. - KPMGIn the news

Shops 528 | 100% Occupied Retail Center Offering · - Over 36,000 cars per day on Hwy 528 - Hwy 528...

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