Brick
For Sale
$315,000
1133 Georgia St Se, Albuquerque, NM 87108
Tenant-occupied multifamily property with a three-unit configuration near UNM, Kirtland AFB, hospitals, and shopping.
Property Size2,800 SF
Price / SF$112.50
Days on Market447
Property Features for 1133 Georgia St Se
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,109
Building Details
Buildings
1
Construction
solid brick
Tenancy
Multi
Listing Agency:
ERA Summit
(505) 600-1012
Listed By:
Armijo Team
(505) 600-1012
Source:
Exprealty
Added: Jun 10, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:39PM
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 ERA Summit
Investment Insights
Based on property information with market context.
This brick multifamily property contains 2,800 square feet arranged as three residential units. Each unit offers two bedrooms and one bathroom, and all three units are currently tenant-occupied.
The property is located at 1133 Georgia St SE in Albuquerque, near the University of New Mexico, Kirtland Air Force Base, hospitals, and shopping. Its existing three-unit layout and current occupancy provide a clear snapshot of the asset’s present residential configuration.
The property is located at 1133 Georgia St SE in Albuquerque, near the University of New Mexico, Kirtland Air Force Base, hospitals, and shopping. Its existing three-unit layout and current occupancy provide a clear snapshot of the asset’s present residential configuration.
Key Highlights
- Three‑unit brick multifamily property totaling 2,800 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- All three units are tenant‑occupied
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
$25,560
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
8.11%
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%
$511,200
$511.2K
Cap Rate 7%
$365,143
$365.1K
Cap Rate 9%
$284,000
$284.0K
Market Conditions
NOI Build-Up for 2,800 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
$38.6K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$36.5K $13.04/SF
− OpEx
−$11.0K −$3.91/SF
NOI
$25.6K $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%
$511,200
Cap Rate 7%
$365,143
Cap Rate 9%
$284,000
Alternative Uses
Best Use
Multifamily LT 5
$365.1K
$319.5K – $426.0K
NOI $25,560 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$337.9K
$295.6K – $394.2K
NOI $23,651 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$677.4K
$592.7K – $790.3K
NOI $47,416 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied multifamily property with a three-unit configuration near UNM, Kirtland AFB, hospitals, and shopping.
Where is this triplex located?
The property is located at 1133 Georgia St Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Three‑unit brick multifamily property totaling 2,800 square feet; Each unit includes 2 bedrooms and 1 bathroom; All three units are tenant‑occupied
