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    Downtown Albuquerque Landmark Office Building Title is generated by Realmo AI

    505 Marquette Ave NW, Albuquerque, NM 87102

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    Claim this Listing
    For Lease
    $16 SF/Yr $306,625/Mo (calc)

    Premier downtown location with modern amenities and telecommunications infrastructure.

    Type:Office
    Property size:
    223,000 SF
    Added:
    Nov 21, 2025
    Days on Market:
    188
    Last Refresh:
    May 9 at 1:59 am

    Property Features for 505 Marquette Ave NW

    General Information

    Standard status
    Active
    Size
    223,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 505 Marquette Ave NW Contact us

    We can help!

    Listing Contact
    Walt Arnold, CCIM, SIOR

    Listing agent Walt Arnold, CCIM, SIOR License #NM #9117

    Listing office

    Listing date Nov 21, 2025

    Source Svn

    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 Walt Arnold, CCIM, SIOR

    HighLights

    • Premier downtown location near courthouses and city offices.
    • Telecommunications hub with colocation opportunities in the building’s "meet‑me room."
    • Secured garage parking and ample visitor parking.
    • Enjoy on‑site amenities: café, fitness center, on‑site banking, and storage.
    • Modernized elevators and new HVAC system for energy efficiency.
    • "Green" building with LED retrofit.

    Overview

    505 Marquette is a landmark office building located in the heart of Downtown Albuquerque. It serves as the city’s telecommunications infrastructure hub, hosting over 15 regional and international carriers. Tenants benefit from leading-edge bandwidth and colocation opportunities within the building’s "meet-me room." The property provides striking views and a range of amenities, including secured garage parking, an on-site café, a large fitness center, and storage space. Visitor parking is conveniently available on the surface. On-site banking services are also provided. The building has undergone significant modernization, including $2 million in fully modernized elevators, a new HVAC system with full energy recommissioning, and an LED retrofit. The property is recognized as a "green" building, operating with high efficiency. A shared conference room is available for tenant use, and complimentary movie-style popcorn is offered in the lobby. The building's premier downtown location offers close proximity to the court houses and city offices. The property has a total size of 223000 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    H5 Data Centers Business To Business Service US Interior Department Sustainability Organization Dentist Hispano Albuquerque ... Dental Office PNC ATM Atm ValuTel Telecommunications Service

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.653
    Latitude
    35.0885

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      500 Marquette Avenue

      500 Marquette Ave, Unit 1200, Albuquerque, NM 87102
      View Details

    FAQs

    What type of property is this?
    Office building - Premier downtown location with modern amenities and telecommunications infrastructure.
    Where is this office building located?
    The property is located at 505 Marquette Ave NW Albuquerque, NM.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Premier downtown location near courthouses and city offices.; Telecommunications hub with colocation opportunities in the building’s "meet‑me room."; Secured garage parking and ample visitor parking.
    (505) 269-9358
    We can help!
    Listing Contact
    Walt Arnold, CCIM, SIOR
    Real Estate License ID: NM #9117
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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