Freestanding Office
1008 5th Street Northwest, Albuquerque, NM 87102
For Sale
Contact for pricing
A residential-style floor plan and refinished wood floors give this professional workspace a distinct character.
Property Size1,000 SF
Price / SF$319
Days on Market32
Property Features for 1008 5th Street Northwest
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Additional Details
Office Units
Property Use
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Resolut RE Albuquerque
Listed By:
Jeremy Salazar, CCIM
(505) 859-2975
Source:
Crexi
Added: Oct 10
Changed: Nov 8
Last Checked: Nov 8 at 4:19PM
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 Resolut RE Albuquerque
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Investment Insights
Based on property information with market context.
At 1008 5th Street Northwest, this freestanding professional office contains approximately 1,000 SF in a residential-style layout. Refinished wood floors complement improvements that include new plumbing and new kitchen and bathroom flooring. The air-conditioning unit is approximately four years old, and the pitched metal roof was installed approximately 12 years ago. The property was most recently occupied as a law office.
The building is in Albuquerque’s Courthouse District, amid professional offices, government facilities, converted residences and legal-service businesses. Access routes include Lomas Boulevard, I-25 and I-40, with Downtown Albuquerque also nearby.
The building is in Albuquerque’s Courthouse District, amid professional offices, government facilities, converted residences and legal-service businesses. Access routes include Lomas Boulevard, I-25 and I-40, with Downtown Albuquerque also nearby.
Key Highlights
- Freestanding professional office with approximately 1,000 SF
- Refinished wood floors and residential‑style layout
- Recent improvements include new plumbing and kitchen and bathroom flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,284
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,680
$265.7K
Cap Rate 7%
$189,771
$189.8K
Cap Rate 9%
$147,600
$147.6K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$21.6K $21.60/SF
− Vacancy
−$3.9K −$3.89/SF
EGI
$17.7K $17.71/SF
− OpEx
−$4.4K −$4.43/SF
NOI
$13.3K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,680
Cap Rate 7%
$189,771
Cap Rate 9%
$147,600
Alternative Uses
Best Use
Office B
$189.8K
$166.1K – $221.4K
NOI $13,284 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.9K
$211.7K – $282.2K
NOI $16,934 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,417
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Albuquerque
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - A residential-style floor plan and refinished wood floors give this professional workspace a distinct character.
Where is this office building located?
The property is located at 1008 5th Street Northwest Albuquerque, NM.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Freestanding professional office with approximately 1,000 SF; Refinished wood floors and residential‑style layout; Recent improvements include new plumbing and kitchen and bathroom flooring
