Building Details

Buildings 1

Listing Agency: CBRE

Listed By: Debra Dupes Show Phone

Source: Carnm.resimplifi

Added: Feb 1 Changed: Oct 10 Last Checked: Oct 12 at 4:41PM

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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.

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 / Yr

$169,504

Cap Rate

7.74%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $169,504 @ 7.0% cap · market cap 7.74%

Second Best

Healthcare Medical

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $163,211 @ 7.0% cap · market cap 7.45%

Theoretical Best

Office A

$3.09M

$2.70M – $3.60M (±1% cap)

NOI $216,083 @ 7.0% cap · market cap 9.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Cardinal Health Pharmacy New Mexico Plastic ... Medical Clinic Dr. Gladys S. ... Physician Allyson Ray, MD, ... Physician Lovelace Medical Group ... Physician

Suggested Use

Top Pick Electrical Service Nail Salon Auto Parts Store (Bike/Boat/Book/etc) Store Wine and Liquor Store Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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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