Nob Hill Auto
For Sale
Contact for pricing
4600 Central Ave SE, Albuquerque, NM
Corner lot with shop, office, and mechanic station.
Property Size2,803 SF
Lot Size0.44 Acres
Price / SF$212.27
Days on Market399
Property Features for 4600 Central Ave SE
General Information
Standard status
Active
Size
2,803 SF
Lot size
0.44 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Distinguished Properties LLC
(410) 218-7377
Listed By:
James Schneider
(410) 218-7377
Source:
Moodyscre
Added: Jul 7, 2025
Changed: Jul 6
Last Checked: Aug 9 at 2:04PM
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 Distinguished Properties LLC
Investment Insights
Based on property information with market context.
The property is located on a corner lot on Central Avenue in Nob Hill. It features a 2803-square-foot, 6-bay shop/office building with a concrete slab-on-grade foundation and concrete masonry block structure. The building includes pitched and flat roof systems, ceiling-mounted heating units, evaporative cooling, 6 roll-up doors, and above-ground lifts. Additionally, there is a 295-square-foot portable office building with a wood frame, wall-mounted furnace, and evaporative cooling. A 125-square-foot portable storage building is also present, featuring a wood frame and window-mounted refrigerated unit, but no heating. An outdoor concrete slab-on-grade metal mechanic station with a below-the-floor vehicle service pit is included.
Key Highlights
- Corner lot location on Central Avenue in Nob Hill.
- 2803 SF 6‑bay shop/office building with concrete slab and masonry block structure.**
- Includes 6 roll‑up doors and above‑ground lifts.
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
$40,292
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
6.77%
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%
$805,840
$805.8K
Cap Rate 7%
$575,600
$575.6K
Cap Rate 9%
$447,689
$447.7K
Market Conditions
NOI Build-Up for 2,803 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
$62.2K $22.20/SF
− Vacancy
−$4.7K −$1.67/SF
EGI
$57.6K $20.54/SF
− OpEx
−$17.3K −$6.16/SF
NOI
$40.3K $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 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%
$805,840
Cap Rate 7%
$575,600
Cap Rate 9%
$447,689
Alternative Uses
Best Use
Retail
$575.6K
$503.7K – $671.5K
NOI $40,292 @ 7.0% cap · market cap 6.77%
Second Best
Industrial
$240.9K
$210.8K – $281.1K
NOI $16,864 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$678.1K
$593.3K – $791.1K
NOI $47,467 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Grados Tire Center LLC — 501 Old Coors Dr SW, Albuquerque, NM 87121
- La Super Llantera — 659 Old Coors Dr SW, Albuquerque, NM 87121
Frequently Asked Questions
What type of property is this?
Auto shop - Corner lot with shop, office, and mechanic station.
Where is this auto shop located?
The property is located at 4600 Central Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Corner lot location on Central Avenue in Nob Hill.; 2803 SF 6‑bay shop/office building with concrete slab and masonry block structure.**; Includes 6 roll‑up doors and above‑ground lifts.
