Building Details

Tenancy Multi

Listing Agency: EXP Realty, LLC

Listed By: Ron Hensley · License #18396 Show Phone

Source: Carnm.resimplifi

Added: Aug 13 Changed: Sep 10 Last Checked: Oct 9 at 4:28PM

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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 EXP Realty, LLC

Investment Insights

Based on property information with market context.

This 4,929-square-foot NNN property is configured with three suites and includes a long-term restaurant tenant. The tenant renewed its lease in March 2025, with escalations incorporated into the lease terms. The property provides a multi-suite commercial configuration with ongoing NNN lease structure.

The site is across from Old Town and near downtown Albuquerque. It is positioned in the Lomas & Central merge area, where traffic is noted along the surrounding roadway network. The property address is 119 San Pasquale Ave SW, Albuquerque, NM 87104.

Key Highlights

• 4,929‑square‑foot NNN property
• Three suites within the property
• Long‑term restaurant tenant renewed its lease in March 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,852

Cap Rate

7.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,417,040 $1.4M

Cap Rate 7%

$1,012,171 $1.0M

Cap Rate 9%

$787,244 $787.2K

Market Conditions

NOI Build-Up for 4,929 SF

Gross rent

$109.4K $22.20/SF

− Vacancy

−$8.2K −$1.67/SF

EGI

$101.2K $20.54/SF

− OpEx

−$30.4K −$6.16/SF

NOI

$70.9K $14.37/SF

Area

Albuquerque, NM

Vacancy

7.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,417,040

Cap Rate 7%

$1,012,171

Cap Rate 9%

$787,244

Alternative Uses

Best Use

Retail

$1.01M

$885.7K – $1.18M (±1% cap)

NOI $70,852 @ 7.0% cap · market cap 7.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,470 @ 7.0% cap · market cap 8.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Cheese and Coffee Take-out & Catering House Of Beauty Hair Salon Flowers and Herb Markets (Bike/Boat/Book/etc) Store Seared Bistro Albuquerque Restaurant

Suggested Use

Top Pick Dental Office Electrical Service Grocery & Convenience Store Veterinary Clinic Daycare Center Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,379

Businesses Nearby

38k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 93% Hotels & Casinos 4% Beauty & Spa 3%

McDonald's Dining

19,913 visits/mo 0.4 miles

Wendy's Dining

11,984 visits/mo 0.1 miles

Baskin-Robbins Dining

3,868 visits/mo 0.4 miles

Econo Lodge Old Town Hotels & Casinos

1,434 visits/mo 0.5 miles

Aveda Institute Beauty & Spa

1,087 visits/mo 0.1 miles

Demographics for 87104, NM

12,537

Population

6,628

Households

1.9

Avg Household Size

43

Median Age

48%

College-Educated

92%

High-School Grad

4.2 sq mi

ZIP Area

2,985

Density / Sq Mi

$67,714

Median Household Income

$55,156

Median Earnings

$1,022

Median Rent

$300,000

Median Home Value

Market

Vacancy Rate% for Retail in Albuquerque, NM

7.8% 2019

8.4% 2020

7.9% 2021

4.8% 2022

4.2% 2023

5.7% 2024

5.5% 2025

Questions? Ask Rey

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What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

NNN property - Multi-suite commercial property with a long-term restaurant tenant and lease escalations near Old Town and downtown.

Where is this nnn property located?

The property is located at 119 San Pasquale Ave SW Albuquerque, NM.

What is the asking price?

The asking price for this property is $960,000.

What are key features of this property?

This property features: 4,929‑square‑foot NNN property; Three suites within the property; Long‑term restaurant tenant renewed its lease in March 2025