Veterinary NNN
For Sale
$1,300,000
Pending
1041 Juan Tabo Blvd NE, Albuquerque, NM 87112
Established animal hospital occupancy with extended lease term, renewal options, and recently updated building systems.
Property Size6,009 SF
Days on Market89
Property Features for 1041 Juan Tabo Blvd NE
General Information
Standard status
Pending
Size
6,009 SF
Total Parking Spaces
18
Property subtype
Investment
Zoning
MX-M
Amenities
18 Parking Spaces
Listing Agency:
EXP Realty, LLC
(505) 280-7069
Listed By:
Gilbert Chavez · License #48133
Source:
Carnm.resimplifi
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 7:31PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
The 6,009-square-foot property at 1041 Juan Tabo Blvd NE is occupied by Albuquerque Animal Hospital, which operates under National Veterinary Associates. The animal hospital has operated at the property for over 25 years. Recent capital improvements include HVAC work, medical oxygen outlet system upgrades, interior flooring, exterior security cameras and monitoring, a gated rear parking lot, roof recoating, repainting, and new lighting.
A lease is in place through 8/31/31 with two additional five-year options. The modified NNN structure assigns interior maintenance, property taxes, insurance, and landscape maintenance to the tenant, while the landlord remains responsible for capital replacements. The property is zoned MX-M and includes secure employee parking. The lease provides 2% annual increases and reflects a 9.1% cap rate.
A lease is in place through 8/31/31 with two additional five-year options. The modified NNN structure assigns interior maintenance, property taxes, insurance, and landscape maintenance to the tenant, while the landlord remains responsible for capital replacements. The property is zoned MX-M and includes secure employee parking. The lease provides 2% annual increases and reflects a 9.1% cap rate.
Key Highlights
- 6,009‑square‑foot veterinary facility at 1041 Juan Tabo Blvd NE, Albuquerque, NM 87112
- Albuquerque Animal Hospital has operated at the property for over 25 years
- Lease runs through 8/31/31 with two additional 5‑year options
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
$79,824
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
6.14%
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%
$1,596,480
$1.6M
Cap Rate 7%
$1,140,343
$1.1M
Cap Rate 9%
$886,933
$886.9K
Market Conditions
NOI Build-Up for 6,009 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
$129.8K $21.60/SF
− Vacancy
−$23.4K −$3.89/SF
EGI
$106.4K $17.71/SF
− OpEx
−$26.6K −$4.43/SF
NOI
$79.8K $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%
$1,596,480
Cap Rate 7%
$1,140,343
Cap Rate 9%
$886,933
Alternative Uses
Best Use
Office B
$1.14M
$997.8K – $1.33M
NOI $79,824 @ 7.0% cap · market cap 6.14%
Second Best
Healthcare Medical
$1.10M
$960.8K – $1.28M
NOI $76,860 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,759 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Established animal hospital occupancy with extended lease term, renewal options, and recently updated building systems.
Where is this nnn property located?
The property is located at 1041 Juan Tabo Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 6,009‑square‑foot veterinary facility at 1041 Juan Tabo Blvd NE, Albuquerque, NM 87112; Albuquerque Animal Hospital has operated at the property for over 25 years; Lease runs through 8/31/31 with two additional 5‑year options
