Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Functional Medical Office Condo Title is generated by Realmo AI

    10151 Montgomery Blvd NE, Albuquerque, NM 87111

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Well-designed medical office condo with fully equipped exam rooms.

    Type:Office
    Property size:
    6,613 SF
    Price / SF:
    $272/SF
    Added:
    Mar 9, 2026
    Days on Market:
    65
    Last Refresh:
    Mar 16 at 3:07 pm

    Property Features for 10151 Montgomery Blvd NE

    General Information

    Standard status
    Active
    Size
    6,613 SF
    Property subtype
    Office

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Richard Hanna, CCIM
    Richard Hanna, CCIM

    Listing agent Richard Hanna, CCIM License #9158

    Listing office Hanna Commercial, LLC

    Listing date Mar 9, 2026

    Source Crexi

    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

    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.
    • Includes two private physician offices and two additional staff offices.
    • Plumbing capped in the floors of exam rooms for easy dental conversion.
    • Located in a thoughtfully laid out 8,827 sq ft building.

    Overview

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Catherine Tchanque-Fossuo Physician Dr. Steve Ollason ... Dental Office Dr. Travis Rudd ... Dental Office Katie Joshi Physician Ms. Marcia Starns Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.5271187
    Latitude
    35.1313594

    Nearby Similar for Sale

    • $825,000

      Albuquerque Commercial Live/Work Space

      Versatile commercial property with live/work setup and climate-controlled warehouse.
      8612 PASEO ALAMEDA NE, Albuquerque, NM 87113
      View Details
    • $400,000

      Commercial Property in North Valley

      Versatile commercial property in Albuquerque's North Valley with two spaces.
      9807 4th Street NW, Albuquerque, NM 87114
      View Details
    • $7,250,000
      16,104 SF

      Prime Albuquerque Retail Portfolio

      Two-parcel retail portfolio at a high-traffic Albuquerque intersection.
      4340 San Mateo Boulevard NE, Albuquerque, NM 87110
      View Details
    • $679,000

      Route 66 Restaurant Opportunity

      Restaurant space along Albuquerque's iconic Route 66 corridor.
      5801 Central Avenue NE, Albuquerque, NM 87108
      View Details
    • $580,000

      Industrial Property with Inspection Pit

      Centrally located industrial property with fenced yard and inspection pit.
      1907 8th Street NW, Albuquerque, NM 87102
      View Details
    • $641,829
      4,194 SF

      Albuquerque Fourplex with Laundry

      Fourplex with two-bedroom units and in-unit laundry.
      3609 Wellesley Drive NE, Albuquerque, NM 87107
      View Details
    • $400,000
      3,376 SF

      Income-Producing Albuquerque Fourplex For Sale

      Fourplex with rental income potential near Mesa Verde Park.
      8008 Grand Avenue NE, Albuquerque, NM 87108
      View Details
    • $555,555
      2,660 SF

      Downtown Albuquerque Fourplex with Charm

      Charming fourplex in downtown Albuquerque, near amenities and attractions.
      715 Fruit Avenue NW, Albuquerque, NM 87102
      View Details
    • $527,500
      2,640 SF

      Updated UNM Area Fourplex

      Modernized fourplex near UNM with in-unit laundry and private yards.
      1005 Carlisle Boulevard SE, Albuquerque, NM 87106
      View Details
    • $615,833
      3,700 SF

      Albuquerque Fourplex in Residential Neighborhood

      Fourplex in established neighborhood setting near park in Albuquerque.
      12404 Rosemont Avenue NE, Albuquerque, NM 87112
      View Details
    • $559,900

      Albuquerque Land For Sale

      Land available in Albuquerque, New Mexico.
      47 Rock Ridge Drive NE, Albuquerque, NM 87122
      View Details
    • $479,900
      3,640 SF

      Albuquerque Fourplex Investment Opportunity

      Southeast Heights fourplex with fully rented units, great investment potential.
      530 Alvarado Drive SE, Albuquerque, NM 87108
      View Details

    FAQs

    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.
    (505) 332-0522 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Richard Hanna, CCIM
    Richard Hanna, CCIM
    Real Estate License ID: 9158
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    10151 Montgomery Blvd NE, Albuquerque, NM 87111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!