Historic Office
For Sale
$2,500,000
111 Gold Ave SE, Albuquerque, NM 87102
Historic office property on a visible corner lot with land-only, building-only, or combined acquisition options.
Property Size12,677 SF
Lot Size0.20 Acres
Price / SF$197.21
Days on Market214
Property Features for 111 Gold Ave SE
General Information
Standard status
Active
Size
12,677 SF
Lot size
0.20 Acres
Property subtype
Office
Zoning
MX-FB-FX
Additional Details
Road Access
Yes
Land Use
commercial
Building Details
Buildings
1
Listing Agency:
REA Real Estate Advisors
Listed By:
Tom Jenkins · License #NEWMEXICO13292
(505) 539-3201
Source:
Carnm.resimplifi
Added: Mar 16
Changed: Oct 3
Last Checked: Oct 14 at 7:45PM
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 REA Real Estate Advisors
Investment Insights
Based on property information with market context.
The Shufflebarger Building is a 12,677-square-foot historic office property at 111 Gold Ave SE in Albuquerque. Constructed with solid materials and traditional character, the building offers a substantial existing structure for renovation, adaptive reuse, or repositioning. The property occupies a 0.20-acre corner parcel with prominent exposure.
Acquisition can be structured around the land, the building, or both together. The site is near Downtown Albuquerque and the EDO redevelopment corridor, with nearby reinvestment that includes a new hotel and the redevelopment of the historic Albuquerque High School campus. The property also provides access to Downtown amenities and major transportation routes.
Acquisition can be structured around the land, the building, or both together. The site is near Downtown Albuquerque and the EDO redevelopment corridor, with nearby reinvestment that includes a new hotel and the redevelopment of the historic Albuquerque High School campus. The property also provides access to Downtown amenities and major transportation routes.
Key Highlights
- 12,677‑square‑foot historic office building
- 0.20‑acre corner lot with strong visibility
- Land‑only, building‑only, or combined acquisition options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$168,401
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,368,020
$3.4M
Cap Rate 7%
$2,405,729
$2.4M
Cap Rate 9%
$1,871,122
$1.9M
Market Conditions
NOI Build-Up for 12,677 SF
Gross rent
$273.8K $21.60/SF
− Vacancy
−$49.3K −$3.89/SF
EGI
$224.5K $17.71/SF
− OpEx
−$56.1K −$4.43/SF
NOI
$168.4K $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%
$3,368,020
Cap Rate 7%
$2,405,729
Cap Rate 9%
$1,871,122
Alternative Uses
Best Use
Office B
$2.41M
$2.11M – $2.81M
NOI $168,401 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,677 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,862
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Historic office property on a visible corner lot with land-only, building-only, or combined acquisition options.
Where is this office building located?
The property is located at 111 Gold Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12,677‑square‑foot historic office building; 0.20‑acre corner lot with strong visibility; Land‑only, building‑only, or combined acquisition options
