Property Description

Century Plaza presents an exceptional value-add retail investment opportunity at the signalized northeast corner of Cerrillos Road and Rodeo Road, Santa Fe's major retail corridor, adjacent to Santa Fe Place Mall. The neighborhood shopping center offers approximately 46,461 SF of net rentable area (48,718 SF gross) on ±3.81 acres, with 205 surface parking spaces. Currently 58% occupied, the property offers 19,384 SF of available space, providing an opportunity for an investor to increase occupancy and enhance the center's income potential. The property is anchored by Dollar Tree, with a lease extending through February 2052. Other existing tenants include T-Mobile, OneMain Financial, and Baskin Robbins. A distinctive feature of the offering is an approximately 8,454 SF freestanding former brewery building, which is vacant and included in the sale with all equipment and a full Inter-Local Dispenser License. The building offers an opportunity for a brewpub, restaurant, or bar operator to establish a hospitality concept without starting from a bare shell or pursuing a new liquor license. The property benefits from its prominent hard-corner location, with reported traffic counts of approximately 32,818 vehicles per day on Cerrillos Road and 22,228 vehicles per day on Rodeo Road. Nearby retail destinations include Target, Sam's Club, Lowe's, Sprouts Farmers Market, and Santa Fe Place Mall. Offered at $5,600,000, or approximately $120.53 per SF of net rentable area, Century Plaza offers an opportunity for investors seeking a value-add retail center with significant lease-up potential and an additional hospitality-oriented component. The property is in foreclosure and receivership. Sale is subject to court and receiver approval. Financial information will be provided to qualified purchasers upon execution of a confidentiality agreement. Buyer to verify all property information, measurements, and details.

Property Features