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Albuquerque Office Building For Sale

4243 Montgomery Blvd NE, Albuquerque, NM

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For Sale

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High-occupancy office building with stable tenants and redevelopment potential.

Type:OFFICE

Property size:

74,043 SF

Lot size:

9.13 Acres

Price / SF:

$180/SF

HighLights

High Occupancy with Stable Tenants: 94% occupancy with diverse medical, government, professional tenants and a freestanding restaurant.
New Government Tenant: The State of New Mexico’s 10‑year lease starting in 2025 ensures reliable long‑term income.
Prime Location: Positioned on Albuquerque’s busy Montgomery Boulevard with over 43,000 daily vehicles.
Upside Potential: Below‑market rents and uncaptured expense pass‑throughs provide opportunities to boost NOI.
Redevelopment Potential: Situated on 5.53 acres, offering opportunities for value enhancement and future adaptability.
Tenant‑Borne Costs: Tenants manage and pay for their own electrical and janitorial services.

We can help!

Listing Contact

Tom Jenkins CCIM SIOR

For Sale

Contact for pricing

High-occupancy office building with stable tenants and redevelopment potential.

Type:OFFICE

Property size:

74,043 SF

Lot size:

9.13 Acres

Price / SF:

$180/SF

Added:: Mar 21, 2025
Days on Market:: 450
Last Refresh:: May 20 at 9:35 pm

Property Features for 4243 Montgomery Blvd NE

General Information

Standard status: Active
Size: 74,043 SF
Lot size: 9.13 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Tom Jenkins CCIM SIOR

Listing agent Tom Jenkins CCIM SIOR License #52736

Listing office REA Real Estate Advisors

Listing date Mar 21, 2025

Source Moodyscre

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 REA Real Estate Advisors

HighLights

High Occupancy with Stable Tenants: 94% occupancy with diverse medical, government, professional tenants and a freestanding restaurant.
New Government Tenant: The State of New Mexico’s 10‑year lease starting in 2025 ensures reliable long‑term income.
Prime Location: Positioned on Albuquerque’s busy Montgomery Boulevard with over 43,000 daily vehicles.
Upside Potential: Below‑market rents and uncaptured expense pass‑throughs provide opportunities to boost NOI.
Redevelopment Potential: Situated on 5.53 acres, offering opportunities for value enhancement and future adaptability.
Tenant‑Borne Costs: Tenants manage and pay for their own electrical and janitorial services.

Overview

This Albuquerque office building features 94% occupancy with a mix of medical, government, and professional tenants, along with a freestanding restaurant, ensuring stable cash flow and tenant retention. Situated on Montgomery Boulevard, the property benefits from high visibility with over 43,000 vehicles passing daily and easy access via a dedicated turn signal. Its location offers convenient routes to I-25 via Montgomery and Jefferson. The property's proximity to hospitals and medical centers drives strong demand from healthcare-related tenants. Located on 5.53 acres, the property offers redevelopment potential and future adaptability. Ample parking is available with a ratio of 4.1 spaces per 1,000 square feet. Opportunities exist to increase net operating income through below-market rents and uncaptured expense pass-throughs. A new 10-year lease with the State of New Mexico, starting in 2025, ensures reliable long-term income. Tenants are responsible for their own electrical and janitorial services, reducing owner responsibilities and mitigating expense risks. The property contains 74,043 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.60M	$21.60
− Vacancy	−$287.9k	−$3.89
EGI	$1.31M	$17.71
− OpEx	−$327.9k	−$4.43
NOI	$983.6k	$13.28

74,043 SF · lease $21.60/SF/yr · vacancy 18.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$14.05M

$12.29M – $16.39M (±1% cap)

NOI $983,587 @ 7.0% cap · market cap 7.37%

Second Best

—

no second resolved use

Theoretical Best

Office A

$17.91M

$15.67M – $20.90M (±1% cap)

NOI $1,253,874 @ 7.0% cap · market cap 9.40%

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

Property Profile Location Intelligence

Current Use by Public Records

Top Knot Hair ... Hair Salon Cocina Azul Southwestern Restaurant (Us)

Suggested Use

Location Insight

Map
Local Demand

City: Albuquerque
County: Sandoval
State: New Mexico
Longitude: -106.597
Latitude: 35.1314

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For sale
Office buildings
NM
Albuquerque
4243 Montgomery Blvd NE

What type of property is this?

Office building - High-occupancy office building with stable tenants and redevelopment potential.

Where is this office building located?

The property is located at 4243 Montgomery Blvd NE Albuquerque, NM.

What is the asking price?

The asking price for this property is $13,341,164.

What are key features of this property?

This property features: High Occupancy with Stable Tenants: 94% occupancy with diverse medical, government, professional tenants and a freestanding restaurant.; New Government Tenant: The State of New Mexico’s 10‑year lease starting in 2025 ensures reliable long‑term income.; Prime Location: Positioned on Albuquerque’s busy Montgomery Boulevard with over 43,000 daily vehicles.

4243 Montgomery Blvd NE, Albuquerque, NM

High-occupancy office building with stable tenants and redevelopment potential.

Property Features for 4243 Montgomery Blvd NE

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Prime Albuquerque Retail Portfolio

Assisted Living Residential Facility

Albuquerque Multifamily Investment Opportunity

Soft-Gated Multifamily Community

Climate-Controlled Flex Warehouse with Bay Door

Industrial Property with Inspection Pit

South Valley Investment Opportunity

Restored Adobe Duplex Property

Albuquerque Fourplex with Laundry

UNM Area Apartment Complex

Turnkey Assisted Living Facility

Albuquerque Freestanding Commercial Property

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