Building Details

Buildings 3

Listing Agency: NAI SunVista - Albuquerque Show Phone

Listed By: Dave Hill · License #34088AB Show Phone

Source: Moodyscre

Added: Nov 3 Changed: Nov 4 Last Checked: Nov 4 at 9:16AM

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Investment Insights

Based on property information with market context.

This office property comprises three structures totaling 3,584 square feet. An office tenant has occupied space for more than 28 years, providing a long-standing commercial presence. Property improvements completed in 2025 include an asphalt parking lot and a water storage tank. An on-site well serves the property.

Located at 12042 N State Highway 14 in Cedar Crest, the property is in East Mountain. The zoning is described as supporting retail, office, and industrial uses.

Key Highlights

• Three structures totaling 3,584 square feet
• Office tenant has occupied the space for more than 28 years
• Asphalt parking lot installed in 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,276

Cap Rate

5.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$905,520 $905.5K

Cap Rate 7%

$646,800 $646.8K

Cap Rate 9%

$503,067 $503.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,584 SF

Gross rent

$71.0K $19.80/SF

− Vacancy

−$10.6K −$2.96/SF

EGI

$60.4K $16.84/SF

− OpEx

−$15.1K −$4.21/SF

NOI

$45.3K $12.63/SF

Area

Bernalillo County, NM

Vacancy

14.93%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$905,520

Cap Rate 7%

$646,800

Cap Rate 9%

$503,067

Alternative Uses

Best Use

Office B

$646.8K

$566.0K – $754.6K (±1% cap)

NOI $45,276 @ 7.0% cap · market cap 5.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$940.8K

$823.2K – $1.10M (±1% cap)

NOI $65,856 @ 7.0% cap · market cap 8.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Spaces

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Storage Facility Hair Salon Carpet & Flooring Store

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

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 87008, NM

2,449

Population

1,173

Households

2.1

Avg Household Size

50

Median Age

53%

College-Educated

97%

High-School Grad

26.6 sq mi

ZIP Area

92

Density / Sq Mi

$108,523

Median Household Income

$57,304

Median Earnings

$907

Median Rent

$352,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Office space - An established office tenant has occupied space at the property for more than 28 years.

Where is this office space located?

The property is located at 12042 N State Highway 14 Cedar Crest, NM.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Three structures totaling 3,584 square feet; Office tenant has occupied the space for more than 28 years; Asphalt parking lot installed in 2025