Flexible Office
For Sale
$509,995
1121 4TH Street, Albuquerque, NM 87102
Open-plan suite with two reserved parking spaces and convenient access to dining and major roads.
Property Size2,060 SF
Price / SF$247.57
Days on Market343
Property Features for 1121 4TH Street
General Information
Standard status
Active
Size
2,060 SF
Total Parking Spaces
2
Property subtype
General Commercial
Additional Details
HOA Fee
$969.35
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$13,231
Amenities
3
2 Parking Spaces.
Listing Agency:
Realty Executives Advantage
Listed By:
Nathan Smith
(505) 750-0030
Source:
Xome
Added: Sep 27, 2025
Changed: Sep 4
Last Checked: Sep 4 at 3:34AM
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 Realty Executives Advantage
Investment Insights
Based on property information with market context.
This office condominium suite at 1121 NW 4th Street, Suite 1-A, provides an open, adaptable interior for a range of business uses. The property includes two reserved parking spaces and is situated within a maintained office building with shared amenities and common-area services.
The suite is positioned in Albuquerque’s commercial district, with access to nearby dining and major roads. Individually metered utilities support separate management of suite consumption. The property may suit an owner-user or investor seeking office space in a central commercial setting.
The suite is positioned in Albuquerque’s commercial district, with access to nearby dining and major roads. Individually metered utilities support separate management of suite consumption. The property may suit an owner-user or investor seeking office space in a central commercial setting.
Key Highlights
- Office condominium at 1121 NW 4th Street, Suite 1‑A
- Open, flexible interior layout
- Two reserved parking spaces
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
$27,365
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
5.37%
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%
$547,300
$547.3K
Cap Rate 7%
$390,929
$390.9K
Cap Rate 9%
$304,056
$304.1K
Market Conditions
NOI Build-Up for 2,060 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
$44.5K $21.60/SF
− Vacancy
−$8.0K −$3.89/SF
EGI
$36.5K $17.71/SF
− OpEx
−$9.1K −$4.43/SF
NOI
$27.4K $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 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%
$547,300
Cap Rate 7%
$390,929
Cap Rate 9%
$304,056
Alternative Uses
Best Use
Office B
$390.9K
$342.1K – $456.1K
NOI $27,365 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$498.4K
$436.1K – $581.4K
NOI $34,885 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,850
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Open-plan suite with two reserved parking spaces and convenient access to dining and major roads.
Where is this office units located?
The property is located at 1121 4TH Street Albuquerque, NM.
What is the asking price?
The asking price for this property is $509,995.
What are key features of this property?
This property features: Office condominium at 1121 NW 4th Street, Suite 1‑A; Open, flexible interior layout; Two reserved parking spaces
