Flex Space with Secure
For Sale
Contact for pricing
1101 2nd St NW & 1010 3rd St, Albuquerque, NM 87102
Two neighboring industrial buildings combine high-bay interiors, substantial electrical capacity, climate control, and gated outdoor storage.
Property Size28,744 SF
Price / SF$99.15
Days on Market124
Property Features for 1101 2nd St NW & 1010 3rd St
General Information
Standard status
Active
Size
28,744 SF
Property subtype
Industrial
Zoning
MX-M
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Three-Phase Power
Yes
Heavy Power
Yes
Conditioned Warehouse
Yes
Building Details
Buildings
2
Listing Agency:
Resolut RE Albuquerque
(505) 259-9989
Listed By:
Martin Richardson · License #20240120
Source:
Crexi
Added: Apr 30
Changed: Aug 31
Last Checked: Aug 31 at 2:23AM
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 Resolut RE Albuquerque
Investment Insights
Based on property information with market context.
This two-building flex space offering totals 28,744 square feet across neighboring sites at 1101 2nd St NW and 1010 3rd St. The improvements include high-bay warehouse areas, a showroom, and office space. Warehouses and showroom areas are heated and cooled, while the offices have HVAC. High-amperage three-phase electrical service supports power-intensive industrial operations, and two secured, gated yards provide outdoor space for equipment, fleet parking, or staging.
The property carries MX-M zoning and sits in a central Albuquerque industrial corridor north of Downtown. Access to I-40 and I-25 supports movement across the metro area and regional distribution throughout New Mexico and the Southwest. The sites are also near Downtown Albuquerque, the rail yards, breweries, eateries, coffee shops, and other commercial and industrial areas.
The property carries MX-M zoning and sits in a central Albuquerque industrial corridor north of Downtown. Access to I-40 and I-25 supports movement across the metro area and regional distribution throughout New Mexico and the Southwest. The sites are also near Downtown Albuquerque, the rail yards, breweries, eateries, coffee shops, and other commercial and industrial areas.
Key Highlights
- 28,744‑square‑foot flex space offering across two neighboring industrial properties
- High‑amperage three‑phase electrical service
- High‑bay warehouse areas with vertical capacity for equipment, storage, and racking
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
$255,592
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
8.97%
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%
$5,111,840
$5.1M
Cap Rate 7%
$3,651,314
$3.7M
Cap Rate 9%
$2,839,911
$2.8M
Market Conditions
NOI Build-Up for 28,744 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
$413.9K $14.40/SF
− Vacancy
−$20.7K −$0.72/SF
EGI
$393.2K $13.68/SF
− OpEx
−$137.6K −$4.79/SF
NOI
$255.6K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$5,111,840
Cap Rate 7%
$3,651,314
Cap Rate 9%
$2,839,911
Alternative Uses
Best Use
Flex RnD
$3.65M
$3.19M – $4.26M
NOI $255,592 @ 7.0% cap · market cap 8.97%
Second Best
Warehouse
$2.81M
$2.46M – $3.28M
NOI $197,023 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$6.95M
$6.08M – $8.11M
NOI $486,762 @ 7.0% cap · market cap 17.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,605
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- a lotta enchilada 505 — albuquerque, nm 87102
- Southwest Savories Aviation Catering LLC — 616 Lomas Blvd NW Suite C, Albuquerque, NM 87102
- Albuquerque Commissary Kitchen — 1601 4th St NW, Albuquerque, NM 87102
- ABQ Ice Cream — 1601 4th St NW, Albuquerque, NM 87102
- High Mountain Cusine Catering — 1807 2nd St NW Studio 61, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Flex space - Two neighboring industrial buildings combine high-bay interiors, substantial electrical capacity, climate control, and gated outdoor storage.
Where is this flex space located?
The property is located at 1101 2nd St NW & 1010 3rd St Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 28,744‑square‑foot flex space offering across two neighboring industrial properties; High‑amperage three‑phase electrical service; High‑bay warehouse areas with vertical capacity for equipment, storage, and racking
