Renovated Office
For Sale
$750,000
Pending
1121 San Mateo Blvd NE, Albuquerque, NM 87110
Flexible office layout combines enclosed workrooms, open workspace, restrooms, and a dedicated break area.
Property Size4,130 SF
Days on Market302
Property Features for 1121 San Mateo Blvd NE
General Information
Standard status
Pending
Size
4,130 SF
Total Parking Spaces
27
Property subtype
Office
Amenities
Power
Water
Sewer
Natural Gas
Vacant
27 Parking Spaces
Building Details
Year Built
1970
Listing Agency:
Metro Commercial Realty, LLC.
(505) 858-1444
Listed By:
Bob Arguelles
(505) 858-1444
Source:
Carnm.resimplifi
Added: Nov 1, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:43PM
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 Metro Commercial Realty, LLC.
Investment Insights
Based on property information with market context.
Located at 1121 San Mateo Blvd NE in Albuquerque, this 4,130-square-foot office building offers a practical mix of private and shared work areas. The layout includes 10 private offices, a substantial open workspace, two separate restroom areas, and a spacious break room.
Improvements include updated lighting, flooring, and interior finishes. The property was renovated during its prior occupancy by an engineering firm and was built in 1970. An oversized parking lot provides 27 spaces, supporting staff and visitor access at the San Mateo Blvd NE address.
Improvements include updated lighting, flooring, and interior finishes. The property was renovated during its prior occupancy by an engineering firm and was built in 1970. An oversized parking lot provides 27 spaces, supporting staff and visitor access at the San Mateo Blvd NE address.
Key Highlights
- 4,130‑square‑foot office building at 1121 San Mateo Blvd NE, Albuquerque, NM 87110
- 10 private offices paired with a large open workspace
- Two sets of restroom areas and a spacious break 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
$54,863
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
7.32%
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%
$1,097,260
$1.1M
Cap Rate 7%
$783,757
$783.8K
Cap Rate 9%
$609,589
$609.6K
Market Conditions
NOI Build-Up for 4,130 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
$89.2K $21.60/SF
− Vacancy
−$16.1K −$3.89/SF
EGI
$73.2K $17.71/SF
− OpEx
−$18.3K −$4.43/SF
NOI
$54.9K $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%
$1,097,260
Cap Rate 7%
$783,757
Cap Rate 9%
$609,589
Alternative Uses
Best Use
Office B
$783.8K
$685.8K – $914.4K
NOI $54,863 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.1K
$874.2K – $1.17M
NOI $69,939 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
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 building - Flexible office layout combines enclosed workrooms, open workspace, restrooms, and a dedicated break area.
Where is this office building located?
The property is located at 1121 San Mateo Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,130‑square‑foot office building at 1121 San Mateo Blvd NE, Albuquerque, NM 87110; 10 private offices paired with a large open workspace; Two sets of restroom areas and a spacious break room
