Stand-Alone Office
For Sale
$499,000
11920 Menaul Blvd NE, Albuquerque, NM 87112
MX-L-zoned office property with a gated rear yard, side access, and dedicated parking.
Property Size1,566 SF
Price / SF$318.65
Days on Market53
Property Features for 11920 Menaul Blvd NE
General Information
Standard status
Active
Size
1,566 SF
Total Parking Spaces
6
Property subtype
Office
Zoning
MX-L
Additional Details
Road Access
Yes
Amenities
kitchenette
private bathrooms
gated yard
Power
Water
Sewer
Natural Gas
6 Parking Spaces
Building Details
Buildings
1
Building Size
1,566 SF
Listing Agency:
Epic Real Estate
(505) 263-5350
Listed By:
Mark Thompson
(505) 263-5350
Source:
Carnm.resimplifi
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 29 at 6:02AM
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 Epic Real Estate
Investment Insights
Based on property information with market context.
This stand-alone office building contains 1,566 square feet with a front reception desk, kitchenette, and two private bathrooms. The property includes a private parking lot and a gated back yard that provides additional outdoor area behind the building.
Menaul frontage and side access support straightforward arrival and circulation. The rear yard is enclosed and offers an adaptable outdoor component alongside the office improvements. The property is zoned MX-L.
Menaul frontage and side access support straightforward arrival and circulation. The rear yard is enclosed and offers an adaptable outdoor component alongside the office improvements. The property is zoned MX-L.
Key Highlights
- 1,566‑square‑foot stand‑alone office building
- MX‑L zoning
- Private parking lot
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
$20,803
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
4.17%
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%
$416,060
$416.1K
Cap Rate 7%
$297,186
$297.2K
Cap Rate 9%
$231,144
$231.1K
Market Conditions
NOI Build-Up for 1,566 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
$33.8K $21.60/SF
− Vacancy
−$6.1K −$3.89/SF
EGI
$27.7K $17.71/SF
− OpEx
−$6.9K −$4.43/SF
NOI
$20.8K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /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%
$416,060
Cap Rate 7%
$297,186
Cap Rate 9%
$231,144
Alternative Uses
Best Use
Office B
$297.2K
$260.0K – $346.7K
NOI $20,803 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.8K
$331.5K – $442.0K
NOI $26,519 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - MX-L-zoned office property with a gated rear yard, side access, and dedicated parking.
Where is this office building located?
The property is located at 11920 Menaul Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,566‑square‑foot stand‑alone office building; MX‑L zoning; Private parking lot
