Functional Medical Office
10151 Montgomery Blvd NE, Albuquerque, NM 87111
For Sale
$1,800,000
Well-designed medical office condo with fully equipped exam rooms.
Property Size8,827 SF
Price / SF$203.92
Days on Market249
Property Features for 10151 Montgomery Blvd NE
General Information
Standard status
Size
Property subtype
Zoning
Lease Type
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Hanna Commercial, LLC
Listed By:
Richard Hanna · License NM #9158
(505) 332-0522
Source:
Carnm.resimplifi
Added: Mar 6
Changed: Nov 9
Last Checked: Nov 8 at 2:24AM
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
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Investment Insights
Based on property information with market context.
This medical office condo provides 5,882 square feet of functional healthcare space within a total area of 6,613 square feet, which includes 731 square feet of common area entry and restrooms. Located in an 8,827 square foot building, the layout is designed to accommodate busy medical practices. The facility features 13 fully equipped exam rooms, supporting multiple providers and efficient patient flow. There are two private physician offices and two additional staff offices for administrative work, consultations, and management. A 20' x 25' treatment room offers flexibility for procedures, specialty care, or expanded clinical services. The exam rooms also have plumbing capped in the floors for potential dental conversion.
Key Highlights
- 5,882 sq ft of functional healthcare space with a total of 6,613 sq ft.
- Features 13 fully equipped exam rooms.
- Spacious 20' x 25' treatment room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,212
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,240
$2.4M
Cap Rate 7%
$1,703,029
$1.7M
Cap Rate 9%
$1,324,578
$1.3M
Market Conditions
NOI Build-Up for 8,827 SF
Gross rent
$217.1K $24.60/SF
− Vacancy
−$18.5K −$2.09/SF
EGI
$198.7K $22.51/SF
− OpEx
−$79.5K −$9.00/SF
NOI
$119.2K $13.51/SF
Area
ZIP 87111
Vacancy
8.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,240
Cap Rate 7%
$1,703,029
Cap Rate 9%
$1,324,578
Alternative Uses
Best Use
Healthcare Medical
$1.70M
$1.49M – $1.99M
NOI $119,212 @ 7.0% cap · market cap 6.62%
Second Best
Office B
$1.61M
$1.41M – $1.88M
NOI $112,968 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,031 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 87111, NM
56,121
Population
28,192
Households
2
Avg Household Size
45
Median Age
56%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
4,419
Density / Sq Mi
$84,511
Median Household Income
$52,350
Median Earnings
$1,310
Median Rent
$349,200
Median Home Value
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Market
Properties on Market for Medical Office Space in Albuquerque
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-designed medical office condo with fully equipped exam rooms.
Where is this medical office space located?
The property is located at 10151 Montgomery Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 5,882 sq ft of functional healthcare space with a total of 6,613 sq ft.; Features 13 fully equipped exam rooms.; Spacious 20' x 25' treatment room.
