Three-Suite Retail with
For Sale
$960,000
119 San Pasquale Avenue SW, Albuquerque, NM 87104
COMMERCIAL - Albuquerque, NM
Property Size5,000 SF
Lot Size0.46 Acres
Price / SF$192
Days on Market528
Property Features for 119 San Pasquale Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MX-M*
Parking
32
Security features
Security
Accessibility
Accessible Approach with Ramp
Directions
From I-40, take the Rio Grande Blvd exit and turn south. Proceed 0.7 miles to Central Ave and turn left (East). Proceed about 0.2 miles on Central Ave to San Pasquale. Turn Right (south). The second driveway on the right is the property
Subdivision
80 - Downtown Area
Standard status
Active
APN
101305815520531408
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
4936
Utilities
Heating system
Electric (Heating), Natural Gas
Building Details
Floors in Building
1
Building materials
Block
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Jimmie D Norris · License #52531
(505) 234-6225
Added: Feb 27, 2025
Changed: Aug 4
Last Checked: Aug 9 at 9:06AM
MLS# 1080387
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use retail space is configured as three distinct suites, totaling approximately 5,000 square feet. The layout includes a 3,000 square foot restaurant/bar space and a 2,000 square foot retail space. Each suite is self-contained with its own restroom, offering flexibility for individual tenants or a coordinated operating setup. Both suites are occupied with recent leases.
The property is constructed with block and includes electric heating and natural gas heating. Accessibility features include an accessible approach with a ramp.
Situated on a 0.46-acre lot, the property is described as being near downtown and historic Old Town, supporting a tenant mix that includes restaurant, bar, and a health store (NOT Cannabis).
The property is constructed with block and includes electric heating and natural gas heating. Accessibility features include an accessible approach with a ramp.
Situated on a 0.46-acre lot, the property is described as being near downtown and historic Old Town, supporting a tenant mix that includes restaurant, bar, and a health store (NOT Cannabis).
Key Highlights
- 8.3% cap rate
- Approximately 5,000 square feet total retail space with three distinct suites
- 3,000 SF restaurant/bar suite and 2,000 SF retail suite, each with its own restroom
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
$84,600
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
8.81%
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%
$1,692,000
$1.7M
Cap Rate 7%
$1,208,571
$1.2M
Cap Rate 9%
$940,000
$940.0K
Market Conditions
NOI Build-Up for 5,000 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
$120.0K $24.00/SF
− Vacancy
−$7.2K −$1.44/SF
EGI
$112.8K $22.56/SF
− OpEx
−$28.2K −$5.64/SF
NOI
$84.6K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /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%
$1,692,000
Cap Rate 7%
$1,208,571
Cap Rate 9%
$940,000
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,600 @ 7.0% cap · market cap 8.81%
Second Best
Retail
$1.03M
$898.4K – $1.20M
NOI $71,873 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,672 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,431
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 92%
Beauty & Spa 8%
Wendy's
Dining
11,984 visits/mo
0.3 miles
Aveda Institute
Beauty & Spa
1,087 visits/mo
0.2 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with 8.3% cap rate, including restaurant/bar and retail suites each with private restroom.
Where is this retail space located?
The property is located at 119 San Pasquale Avenue 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: 8.3% cap rate; Approximately 5,000 square feet total retail space with three distinct suites; 3,000 SF restaurant/bar suite and 2,000 SF retail suite, each with its own restroom
