Freestanding Medical
For Sale
$2,190,000
1020 Tijeras Ave NE, Albuquerque, NM 87106
Elevator-served facility with exam rooms, staff offices, open workspace, and multiple restrooms.
Property Size12,760 SF
Price / SF$171.63
Days on Market209
Property Features for 1020 Tijeras Ave NE
General Information
Standard status
Active
Size
12,760 SF
Total Parking Spaces
39
Elevators
Yes
Property subtype
Healthcare
Zoning
MX-M
Additional Details
Highway Access
Yes
Amenities
39 Parking Spaces
Building Details
Buildings
1
Listing Agency:
CBRE
(505) 515-6733
Listed By:
Debra Dupes
(505) 515-6733
Source:
Carnm.resimplifi
Added: Feb 1
Changed: Aug 28
Last Checked: Aug 29 at 5:56AM
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 CBRE
Investment Insights
Based on property information with market context.
This 12,760-square-foot freestanding medical office building offers a purpose-built clinical layout with reception areas, 14 exam rooms, staff offices, open office space, two break rooms, and six restrooms. Most exam rooms include sinks, supporting clinical operations. The building also has an elevator and a new roof, with MX-M zoning in place.
The property is near Presbyterian Hospital, University of New Mexico Hospital, and Lovelace Hospital, with convenient access to I-25. Cell tower income provides an additional operating component.
The property is near Presbyterian Hospital, University of New Mexico Hospital, and Lovelace Hospital, with convenient access to I-25. Cell tower income provides an additional operating component.
Key Highlights
- 12,760 SF freestanding medical office building
- 14 exam rooms; most include sinks
- Reception areas, staff offices, open office space, and 2 break rooms
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
$169,504
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
7.74%
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%
$3,390,080
$3.4M
Cap Rate 7%
$2,421,486
$2.4M
Cap Rate 9%
$1,883,378
$1.9M
Market Conditions
NOI Build-Up for 12,760 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
$275.6K $21.60/SF
− Vacancy
−$49.6K −$3.89/SF
EGI
$226.0K $17.71/SF
− OpEx
−$56.5K −$4.43/SF
NOI
$169.5K $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 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%
$3,390,080
Cap Rate 7%
$2,421,486
Cap Rate 9%
$1,883,378
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.83M
NOI $169,504 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$2.33M
$2.04M – $2.72M
NOI $163,211 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,083 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,081
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Elevator-served facility with exam rooms, staff offices, open workspace, and multiple restrooms.
Where is this medical office space located?
The property is located at 1020 Tijeras Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: 12,760 SF freestanding medical office building; 14 exam rooms; most include sinks; Reception areas, staff offices, open office space, and 2 break rooms
