Mixed-Use Property with Private
New
For Sale
$449,000
1019 2nd St, Albuquerque, NM 87102
A kitchen, half bath, and separate upper-level space complement the existing recording studio.
Property Size1,511 SF
Price / SF$297.15
Days on Market6
Property Features for 1019 2nd St
General Information
Standard status
Active
Size
1,511 SF
Amenities
Refrigerated Air + Mini Splits
Hard Wood Floors and Tile
Kitchen
1/2 Bath
Pro-Panel Roof
Double Paned Thermal Windows
Foyer
Fully Fenced
New Sewer Line in 2021
Private Upstairs Loft
Listing Agency:
Coldwell Banker Legacy
Listed By:
Mike Cozby · License #14790
(505) 293-3700
Source:
Findalbuquerqueproperties
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 7:24PM
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 Coldwell Banker Legacy
Investment Insights
Based on property information with market context.
This 1,511-square-foot mixed-use property is currently operating as SOL Sound Recording Studio. The interior includes hardwood and tile flooring, a kitchen, a half bath, and a private loft upstairs that can serve as office or sound-room space. Refrigerated air, mini-split systems, double-pane thermal windows, a Pro-Panel roof, and a foyer are among the building features. The property is fully fenced, and its sewer line was replaced in 2021.
The property is downtown, across the street from Marble Brewing. The sale also includes 1015 2nd Lot #5, acquired for additional parking.
The property is downtown, across the street from Marble Brewing. The sale also includes 1015 2nd Lot #5, acquired for additional parking.
Key Highlights
- Operating recording studio in a 1,511‑square‑foot mixed‑use property
- Private upstairs loft with potential office or sound‑room function
- Kitchen, half bath, foyer, hardwood and tile floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,720
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,400
$434.4K
Cap Rate 7%
$310,286
$310.3K
Cap Rate 9%
$241,333
$241.3K
Market Conditions
NOI Build-Up for 1,511 SF
Gross rent
$33.5K $22.20/SF
− Vacancy
−$2.5K −$1.67/SF
EGI
$31.0K $20.54/SF
− OpEx
−$9.3K −$6.16/SF
NOI
$21.7K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,400
Cap Rate 7%
$310,286
Cap Rate 9%
$241,333
Alternative Uses
Best Use
Retail
$310.3K
$271.5K – $362.0K
NOI $21,720 @ 7.0% cap · market cap 4.84%
Second Best
Mixed Use
$262.3K
$229.5K – $306.0K
NOI $18,359 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$365.5K
$319.9K – $426.5K
NOI $25,588 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,261
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
McDonald's
Dining
28,551 visits/mo
0.3 miles
Circle K
Shops & Services
13,697 visits/mo
0.4 miles
SONIC Drive In
Dining
11,655 visits/mo
0.4 miles
Family Dollar
Shops & Services
10,546 visits/mo
0.4 miles
AutoZone
Shops & Services
4,747 visits/mo
0.4 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A kitchen, half bath, and separate upper-level space complement the existing recording studio.
Where is this mixed-use property located?
The property is located at 1019 2nd St Albuquerque, NM.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Operating recording studio in a 1,511‑square‑foot mixed‑use property; Private upstairs loft with potential office or sound‑room function; Kitchen, half bath, foyer, hardwood and tile floors
