Route 66 Retail
For Sale
Contact for pricing
10120 Central Ave SW, Albuquerque, NM 87121
6,000 SF retail property with long-term tenants.
Property Size6,000 SF
Lot Size1.27 Acres
Price / SF$207.33
Days on Market428
Property Features for 10120 Central Ave SW
General Information
Standard status
Active
Size
6,000 SF
Class
B
Total Parking Spaces
42
Lot size
1.27 Acres
Property subtype
Retail
Zoning
NR-C
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$106,912
Building Details
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Hanna Commercial, LLC
(505) 332-0522
Listed By:
Richard Hanna, CCIM · License #9158
Source:
Crexi
Added: Jun 10, 2025
Changed: Aug 8
Last Checked: Aug 9 at 2:22PM
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 Hanna Commercial, LLC
Investment Insights
Based on property information with market context.
Located along Route 66 at 10120 Central NW in Albuquerque, this 6,000 SF retail property is an investment opportunity. The property is anchored by a restaurant and a daycare, both long-term tenants with annual rent escalations. Situated on a 1.27-acre site, the property includes monument signage, a drive-thru, and street visibility. The property is located in an area experiencing growth and offers income with minimal landlord oversight, featuring an 8.59% cap rate.
Key Highlights
- High 8.59% Cap Rate
- Long‑Term Tenants (Restaurant & Daycare)
- Multi‑Year Tenant History with Annual Rent Escalations
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
$65,286
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
5.25%
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%
$1,305,720
$1.3M
Cap Rate 7%
$932,657
$932.7K
Cap Rate 9%
$725,400
$725.4K
Market Conditions
NOI Build-Up for 6,000 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
$93.6K $15.60/SF
− Vacancy
−$6.6K −$1.09/SF
EGI
$87.0K $14.51/SF
− OpEx
−$21.8K −$3.63/SF
NOI
$65.3K $10.88/SF
Area
ZIP 87121
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,305,720
Cap Rate 7%
$932,657
Cap Rate 9%
$725,400
Alternative Uses
Best Use
Specialty Retail
$932.7K
$816.1K – $1.09M
NOI $65,286 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,380 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
229k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 30%
Electronics 2%
McDonald's
Dining
41,092 visits/mo
0.4 miles
Whataburger
Dining
36,430 visits/mo
0.5 miles
Dollar Tree
Shops & Services
22,250 visits/mo
0.4 miles
Circle K
Shops & Services
21,711 visits/mo
0.4 miles
Starbucks
Dining
18,687 visits/mo
0.4 miles
Demographics for 87121, NM
77,802
Population
26,118
Households
3
Avg Household Size
31
Median Age
13%
College-Educated
80%
High-School Grad
336.9 sq mi
ZIP Area
231
Density / Sq Mi
$59,184
Median Household Income
$34,738
Median Earnings
$1,277
Median Rent
$192,500
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 6,000 SF retail property with long-term tenants.
Where is this retail space located?
The property is located at 10120 Central Ave SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,244,000.
What are key features of this property?
This property features: High 8.59% Cap Rate; Long‑Term Tenants (Restaurant & Daycare); Multi‑Year Tenant History with Annual Rent Escalations
