Triplex with Three Single-Story
For Sale
$299,900
325 Tennessee Street NE, Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property Size2,304 SF
Lot Size0.16 Acres
Price / SF$130.16
Days on Market363
Property Features for 325 Tennessee Street NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-ML*
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
Interior features
CeilingFans
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
The Mesa Verde Addition
Directions
Lomas to Tennessee south to address or Wyoming to Copper west to Tennessee south to address.
Standard status
Active
APN
101905733923941819
Size
2,304 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2413
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1959
Floors in Building
1
Number of units
3
Flooring type
Tile, Carpet, Vinyl
Building materials
Stucco
Listing Agency:
Keller Williams Realty
(505) 897-1100
Listed By:
Jonathan P Tenorio · License #50026
(505) 410-8568
Added: Aug 12, 2025
Changed: Aug 1
Last Checked: Aug 9 at 8:06AM
MLS# 1102852
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.
This tri-plex includes three single-story units with functional, tenant-ready layouts. Each unit is approximately 750 SF and features two bedrooms, one bath, and private yard space. Interior features include ceiling fans, and units are equipped with a free-standing electric range and a refrigerator. Flooring includes tile, carpet, and vinyl, and the property is constructed with stucco. Dedicated parking is also provided for added convenience.
The property is located at 325 Tennessee Street NE in Albuquerque, New Mexico (Bernalillo County). Built in 1959, the site totals 0.16 acres and the building size is 2,304 square feet.
With three separate units, this property is well-suited for an investor seeking built-in rental cash flow and a straightforward multi-unit setup.
The property is located at 325 Tennessee Street NE in Albuquerque, New Mexico (Bernalillo County). Built in 1959, the site totals 0.16 acres and the building size is 2,304 square feet.
With three separate units, this property is well-suited for an investor seeking built-in rental cash flow and a straightforward multi-unit setup.
Key Highlights
- Three single‑story units, each approximately 750 SF
- Each unit offers two bedrooms, one bath, and private yard space
- Dedicated parking for tenants
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
$21,033
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
7.01%
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%
$420,660
$420.7K
Cap Rate 7%
$300,471
$300.5K
Cap Rate 9%
$233,700
$233.7K
Market Conditions
NOI Build-Up for 2,304 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
$31.8K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$30.0K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$21.0K $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%
$420,660
Cap Rate 7%
$300,471
Cap Rate 9%
$233,700
Alternative Uses
Best Use
Multifamily LT 5
$300.5K
$262.9K – $350.6K
NOI $21,033 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$278.0K
$243.3K – $324.4K
NOI $19,461 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$557.4K
$487.7K – $650.3K
NOI $39,017 @ 7.0% cap · market cap 13.01%
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
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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?
Triplex - Tri-plex with three single-story units, each with two bedrooms and one bath plus private yard space for tenants.
Where is this triplex located?
The property is located at 325 Tennessee Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three single‑story units, each approximately 750 SF; Each unit offers two bedrooms, one bath, and private yard space; Dedicated parking for tenants
