Corner-Lot
For Sale
$575,000
12129 Menaul Boulevard NE, Albuquerque, NM 87112
MULTI_FAMILY - Albuquerque, NM
Property Size3,072 SF
Lot Size0.19 Acres
Price / SF$187.17
Days on Market62
Property Features for 12129 Menaul Boulevard NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
MX-L*
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 8, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 2
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Patio
Appliances
Dishwasher, FreeStandingGasRange, Refrigerator
Subdivision
Brentwood Hills
Directions
Starting Point Tramway and Menual Blvd. Head West on Menual Blvd and Property is on right hand side.
Standard status
Active
APN
102205936930510508
Size
3,072 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2879
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Amenities
onsite laundry facilities
Building Details
Year built
1981
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Frame, Stucco
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Brooks Real Estate Group
(505) 977-3474
Added: Jun 12
Changed: Aug 1
Last Checked: Aug 12 at 12:06AM
MLS# 1105632
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Corner-lot single-story quadplex at 12129 Menaul Boulevard NE in Albuquerque, NM 87112, built in 1981. The property totals 3,072 square feet on a 0.19-acre lot and is configured as four 2-bedroom, 1-bath units, each approximately 750 square feet, creating an efficient layout for resident occupancy.
Units include ceiling fans and tile flooring, with forced air heating and cooling via ceiling fan(s). Exterior amenities include a patio. The listing also notes onsite laundry facilities and ample off-street parking to support daily convenience.
For appliance considerations, the units include a dishwasher, free-standing gas range, and refrigerator. Unit 1 has been updated, which may be useful for setting a reference point for future improvements across the remaining units. The property’s location is described as being near shopping, dining, public transportation, hiking trails, and major commuter routes, supporting tenant access to area conveniences.
Units include ceiling fans and tile flooring, with forced air heating and cooling via ceiling fan(s). Exterior amenities include a patio. The listing also notes onsite laundry facilities and ample off-street parking to support daily convenience.
For appliance considerations, the units include a dishwasher, free-standing gas range, and refrigerator. Unit 1 has been updated, which may be useful for setting a reference point for future improvements across the remaining units. The property’s location is described as being near shopping, dining, public transportation, hiking trails, and major commuter routes, supporting tenant access to area conveniences.
Key Highlights
- Corner‑lot single‑story quadplex totaling 3,072 SF on 0.19 acres
- Four 2‑bedroom, 1‑bath units, each approximately 750 SF
- Year built 1981 with frame and stucco construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,043
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,860
$560.9K
Cap Rate 7%
$400,614
$400.6K
Cap Rate 9%
$311,589
$311.6K
Market Conditions
NOI Build-Up for 3,072 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.4K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$40.1K $13.04/SF
− OpEx
−$12.0K −$3.91/SF
NOI
$28.0K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,860
Cap Rate 7%
$400,614
Cap Rate 9%
$311,589
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.5K – $467.4K
NOI $28,043 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$370.7K
$324.4K – $432.5K
NOI $25,948 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$743.2K
$650.3K – $867.0K
NOI $52,022 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Single-story quadplex with four two-bedroom, one-bath units, onsite laundry, and off-street parking on a corner lot.
Where is this quadplex located?
The property is located at 12129 Menaul Boulevard NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Corner‑lot single‑story quadplex totaling 3,072 SF on 0.19 acres; Four 2‑bedroom, 1‑bath units, each approximately 750 SF; Year built 1981 with frame and stucco construction
