Four-Unit Multifamily
New
For Sale
$539,900
1116 Nakomis Drive NE, Albuquerque, NM 87112
ResidentialIncome, Albuquerque, NM
Property Size3,458 SF
Lot Size0.26 Acres
Price / SF$156.13
Days on Market3
Property Features for 1116 Nakomis Drive NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
PD*
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 6, Bedroom 7, Bathroom 5, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 3
Exterior features
SprinklerIrrigation
Appliances
Dryer, Dishwasher, FreeStandingElectricRange, Microwave, Refrigerator, Washer
Subdivision
Unit 3 Panorama Heights
Directions
Indian School to Constitution. South on Constitution, follow the curve around to Nakomis. South on Nakomis. Property is on the South East Corner of Mountain & Nakomis. Driveway on Mountain.
Standard status
Active
APN
102205840014541562
Size
3,458 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
3060
Utilities
Heating system
Forced Air
Amenities
storage room
landscaping
vinyl thermal double-pane windows
vinyl plank and carpet flooring
common laundry room
washer/dryer in Unit A
Building Details
Year built
1979
Floors in Building
1
Number of units
4
Flooring type
Carpet, Vinyl, Tile
Building materials
Frame, Stucco
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Joshua D Christensen · License #20522
(505) 250-1944
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 4:06PM
MLS# 1110663
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,458 square feet on 0.26 acres and was built in 1979. Unit A includes three bedrooms and its own washer and dryer, while the other three residences use a shared laundry room. Each unit has a dedicated storage room. Interior finishes include vinyl plank, carpet, and tile flooring, with vinyl thermal double-pane windows and forced-air heating. The property also features stucco and frame construction, maintained landscaping, and sprinkler irrigation.
The property is located at 1116 Nakomis Drive NE in Albuquerque’s Northeast area, near shopping, dining, public transit, employment corridors, and the Sandia Foothills. One-year leases are in place, and aggregate rents are approximately 34% below estimated market rents. The parking lot was repaved in 2025; the roofs and water heater are estimated at approximately 10 years old.
The property is located at 1116 Nakomis Drive NE in Albuquerque’s Northeast area, near shopping, dining, public transit, employment corridors, and the Sandia Foothills. One-year leases are in place, and aggregate rents are approximately 34% below estimated market rents. The parking lot was repaved in 2025; the roofs and water heater are estimated at approximately 10 years old.
Key Highlights
- Four‑unit property totaling 3,458 square feet on 0.26 acres
- Unit A offers 3 bedrooms plus a private washer and dryer
- Each unit includes 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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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 - Established rental property with individual storage, shared laundry, and a three-bedroom residence with private laundry equipment.
Where is this quadplex located?
The property is located at 1116 Nakomis Drive 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: Four‑unit property totaling 3,458 square feet on 0.26 acres; Unit A offers 3 bedrooms plus a private washer and dryer; Each unit includes its own storage room
