Renovated Uptown Two-Tenant
For Sale
Contact for pricing
7001 Menaul Blvd NE, Albuquerque, NM
Two-tenant building in Uptown with long-term leases and strong tenants.
Property Size7,084 SF
Lot Size0.56 Acres
Price / SF$306.32
Days on Market465
Property Features for 7001 Menaul Blvd NE
General Information
Standard status
Active
Size
7,084 SF
Lot size
0.56 Acres
Property subtype
RETAIL
Listing Agency:
COE Properties Inc
(505) 275-0933
Listed By:
Steven Coe
(505) 275-0933
Source:
Moodyscre
Added: Apr 22, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:25AM
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 COE Properties Inc
Investment Insights
Based on property information with market context.
This nicely renovated two-tenant building is located in Uptown on Menaul, just east of Louisiana. The bottom floor, comprising approximately 4,300 square feet, is occupied by a financially strong cannabis dispensary with a long-term NNN lease in place with approximately 4 years remaining on the initial term and annual rent increases. The upstairs area, consisting of approximately 2,576 square feet, is owner-occupied by a financially strong office user, also with a long-term NNN lease in place with approximately 4 years remaining on the initial term and annual rent increases, but is willing to vacate if the buyer desires owner occupancy. The property benefits from strong visibility and signage, including a large digital monument sign. The interior and exterior have been recently remodeled. On-site parking includes 12 spaces, with additional parking available on the street and at an adjacent property. The building features a modern exterior and interior remodel, refrigerated air and central heat, and 3-phase power. The total property size is 7,084 square feet.
Key Highlights
- Financially strong Cannabis Dispensary occupies the bottom floor (4,300+- SF) with a long‑term NNN lease and annual rent increases.
- Upstairs (2,576+- SF) is owner‑occupied by a financially strong office user with a long‑term NNN lease and annual rent increases, but can be vacated for owner occupancy.
- Great Uptown location on Menaul, just East of Louisiana, offering strong visibility and signage via a large digital monument sign.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.0k | $24.00 |
| − Vacancy | −$10.2k | −$1.44 |
| EGI | $159.8k | $22.56 |
| − OpEx | −$40.0k | −$5.64 |
| NOI | $119.9k | $16.92 |
7,084 SF · lease $24.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,861 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$1.45M
$1.27M – $1.70M
NOI $101,829 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,963 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,529
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-tenant building in Uptown with long-term leases and strong tenants.
Where is this retail space located?
The property is located at 7001 Menaul Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,170,000.
What are key features of this property?
This property features: Financially strong Cannabis Dispensary occupies the bottom floor (4,300+- SF) with a long‑term NNN lease and annual rent increases.; Upstairs (2,576+- SF) is owner‑occupied by a financially strong office user with a long‑term NNN lease and annual rent increases, but can be vacated for owner occupancy.; Great Uptown location on Menaul, just East of Louisiana, offering strong visibility and signage via a large digital monument sign.
