Chaparral Center
9301 Candelaria Rd NE, Albuquerque, NM, 87112
ID 5876f455
Overview
On behalf of the owners, Maestas Real Estate Services and NM Apartment Advisors are excited to bring to market this amazing, once in a generational opportunity to redevelop a site that is A+ location. A Northeast Heights Landmark Since the 1950s, built in 1956, Chaparral Center has been part of Albuquerque's Northeast Heights for nearly 70 years, dating back to a pivotal period when the city was rapidly expanding eastward and many of the surrounding neighborhoods were first taking shape. The property sits immediately adjacent to Sombra del Monte Elementary School, established in 1954, creating a longstanding connection between the center and the residential community that has grown around it. The property also has deep roots in Albuquerque's real estate history as a many decade long hub of real estate and beauty salon spaces. Today, Chaparral Center remains ideally positioned within a mature and established Northeast Heights trade area. Located along Candelaria Road just west of Eubank Boulevard, the center benefits from prominent street visibility, ample parking, daily activity associated with the neighboring elementary school, and a substantial surrounding residential population. Approximately 144,000 residents and 65,000 households are located within three miles of the property, providing an established customer base for neighborhood-serving businesses. Unlike newer commercial developments that rely on future rooftops and projected population growth, Chaparral Center is already embedded within generations of established neighborhoods, schools and community infrastructure. Its combination of history, local ownership, accessibility and neighborhood connectivity creates an exceptional opportunity for salon and beauty concepts, wellness and medical providers, professional services, educational uses and other businesses that benefit from repeat neighborhood customers. The mixed use (MX-L) zoning and abundance (45) of parking spaces make this an ideal property for an owner occupant like a real estate office, title company office, mortgage brokerage office, church, day care or beauty/hair salon. The start price on this property is $691,547, or $63.38/sf which is a 12% cap rate based on a 95% occupancy and average rents of $12/sf. If the new owner programs in renovations and tenant improvement allowances for new leases, comparable competing for lease properties indicates lease rates closer to $22.58/sf. Spaces 9301 and 9307 are contiguous, vacant and available for an owner occupant, they total 4,000 sf and are located in a prominent street facing location. Property Tour: September 22nd, 2026, at 12:00 PM. Initial Offer Deadline: September 24th, 2026, at 12:00 PM. Register for the virtual tour and confidential info at www.nmapartment.com/cand9301ne. We encourage interested parties to review the offering materials and register for the September 22 property tour in advance of the September 24 offer deadline.
