Fourplex with Private
For Sale
$539,900
Pending
1116 Nakomis Dr NE, Albuquerque, NM 87112
Four leased residences offer individual storage, updated windows, and shared laundry access for three units.
Property Size3,458 SF
Days on Market17
Property Features for 1116 Nakomis Dr NE
General Information
Standard status
Pending
Size
3,458 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Amenities
common laundry room
Building Details
Year Built
1979
Buildings
1
Listing Agency:
Platlabs, LLC
(303) 848-6215
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 11
Changed: Sep 26
Last Checked: Sep 26 at 7:17AM
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 Platlabs, LLC
Investment Insights
Based on property information with market context.
This 3,458-square-foot fourplex, built in 1979, contains four residences with one-year leases in place. Unit A is a three-bedroom layout with its own washer and dryer, while the other three residences use a common laundry room. Each unit includes a private storage room. Vinyl thermal double-pane windows, vinyl plank and carpet flooring, mature landscaping, and well-maintained building components contribute to the property's existing physical profile.
The parking lot was repaved in 2025. The roofs and water heater are each estimated to be approximately 10 years old. The property is located at 1116 Nakomis Dr NE in Albuquerque, near shopping, dining, public transit, employment corridors, and the Sandia Foothills. Current rents are collectively approximately 34% below estimated market rents, providing an existing rent differential for ownership to evaluate over time.
The parking lot was repaved in 2025. The roofs and water heater are each estimated to be approximately 10 years old. The property is located at 1116 Nakomis Dr NE in Albuquerque, near shopping, dining, public transit, employment corridors, and the Sandia Foothills. Current rents are collectively approximately 34% below estimated market rents, providing an existing rent differential for ownership to evaluate over time.
Key Highlights
- 3,458 SF fourplex built in 1979
- Unit A includes 3 bedrooms plus a private washer and dryer
- Each unit has its own storage room
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
$31,567
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
5.85%
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%
$631,340
$631.3K
Cap Rate 7%
$450,957
$451.0K
Cap Rate 9%
$350,744
$350.7K
Market Conditions
NOI Build-Up for 3,458 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
$47.7K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$45.1K $13.04/SF
− OpEx
−$13.5K −$3.91/SF
NOI
$31.6K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$631,340
Cap Rate 7%
$450,957
Cap Rate 9%
$350,744
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.1K
NOI $31,567 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$417.3K
$365.1K – $486.8K
NOI $29,209 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$836.6K
$732.0K – $976.0K
NOI $58,559 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
338
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four leased residences offer individual storage, updated windows, and shared laundry access for three units.
Where is this quadplex located?
The property is located at 1116 Nakomis Dr NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,458 SF fourplex built in 1979; Unit A includes 3 bedrooms plus a private washer and dryer; Each unit has its own storage room
