REA | Real Estate Advisors is pleased to offer the opportunity to acquire the fee simple interest in San Gabriel Plaza, a medical office building complex located at 3900 Eubank Blvd in the Northeast Heights submarket in Albuquerque, New Mexico. The property consists of two stand-alone single-story medical office buildings totaling 25,379 +/- square feet. The property is zoned MX-T allowing for a wide variety of uses.

The project is well suited for medical use due to its generous parking ratio of approximately 5 spaces per 1,000 square feet and below grade infrastructure access providing users flexibility in location of water, electrical, gas and sewer lines.

San Gabriel Plaza is one of Albuquerque’s most recognized medical locations. The project has great visibility fronting Eubank Blvd and is less than 1 block south of Montgomery Blvd. This asset is adjacent to numerous retail centers which feature many restaurants and bank services.

The project is being marketed based on the in place scheduled NOI of $201,633. With a 18.4% vacancy, this asset provides an buyer with the opportunity to increase value through lease up of the existing vacancies.

San Gabriel’s current tenant mix consist primarily of dental and medical users.. The largest tenants in the project are Dental Practices. All leases are on a modified gross basis with the Tenants directly paying their own Electrical and Janitorial Services. The average rent in place is $17.66 psf. The 6 largest tenants have been in the property for an average of 15 years, providing a historically stable and dependable cash flow.