Two-Story 31-Room
For Sale
$3,000,000
1001 Central Ave NE, Albuquerque, NM 87106
Historic Route 66 motel with freeway ramp access, MX-M zoning, and a manager’s residence.
Property Size14,560 SF
Price / SF$206.04
Days on Market317
Property Features for 1001 Central Ave NE
General Information
Standard status
Active
Size
14,560 SF
Property subtype
Hospitality
Zoning
MX-M
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Vacant
Building Details
Year Built
1965
Stories
2
Listing Agency:
Absolute Investment Realty
(505) 489-8538
Listed By:
Rita Cordova · License #19300
(505) 489-8538
Source:
Carnm.resimplifi
Added: Oct 19, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Absolute Investment Realty
Investment Insights
Based on property information with market context.
Constructed in 1965, this two-story motel contains 14,560 square feet, 31 rooms, and a large manager/owner’s quarters. The property operated continuously through the middle of 2025 and is zoned MX-M. Its motel format and existing room count provide a clearly defined hospitality asset, while the additional residential quarters support on-site management.
The property occupies the intersection of Central Avenue, the Historic Route 66 corridor, and I-25 in Albuquerque, with access to freeway on- and off-ramps. The site is identified as a hard-corner location with approximately 153,500 cars per day. The motel also served as a filming location for scenes in AMC’s Breaking Bad.
The property occupies the intersection of Central Avenue, the Historic Route 66 corridor, and I-25 in Albuquerque, with access to freeway on- and off-ramps. The site is identified as a hard-corner location with approximately 153,500 cars per day. The motel also served as a filming location for scenes in AMC’s Breaking Bad.
Key Highlights
- 31‑room motel with large manager/owner’s quarters
- 14,560‑square‑foot, two‑story building constructed in 1965
- MX‑M zoning
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
$87,640
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
2.92%
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%
$1,752,800
$1.8M
Cap Rate 7%
$1,252,000
$1.3M
Cap Rate 9%
$973,778
$973.8K
Market Conditions
NOI Build-Up for 14,560 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
$209.7K $14.40/SF
− Vacancy
−$25.2K −$1.73/SF
EGI
$184.5K $12.67/SF
− OpEx
−$96.9K −$6.65/SF
NOI
$87.6K $6.02/SF
Area
Albuquerque, NM
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$1,752,800
Cap Rate 7%
$1,252,000
Cap Rate 9%
$973,778
Alternative Uses
Best Use
Hotel Hospitality
$1.25M
$1.10M – $1.46M
NOI $87,640 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,565 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - Historic Route 66 motel with freeway ramp access, MX-M zoning, and a manager’s residence.
Where is this motel located?
The property is located at 1001 Central Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 31‑room motel with large manager/owner’s quarters; 14,560‑square‑foot, two‑story building constructed in 1965; MX‑M zoning
