Multifamily Property with Strong
For Sale
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1225 1237 Menaul Blvd NW Albuquerque, Albuquerque, NM 87107
Fully occupied multifamily property with renovated units and rent upside.
Property Size6,800 SF
Price / SF$161.76
Days on Market152
Property Features for 1225 1237 Menaul Blvd NW Albuquerque
General Information
Standard status
Active
Size
6,800 SF
Class
B
Property subtype
Multifamily
Zoning
R-ML
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$59,241
Building Details
Year Built
1980
Buildings
2
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
NAI Sun Vista
(505) 878-0001
Listed By:
Luke Scarpa · License #REC-2023-0302
Source:
Crexi
Added: Mar 27
Changed: Aug 7
Last Checked: Aug 23 at 11:53AM
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 NAI Sun Vista
Investment Insights
Based on property information with market context.
This multifamily property, 100% occupied as of March 2026, features recently renovated units. Each unit includes refrigerated air, in-unit washer/dryer hookups, and balconies/patios. The property consists entirely of two-bedroom, one-bath units. It offers strong rent upside and a pro forma cap rate of 6.16%. The property is located in close proximity to I-40 and the Indian Pueblo Cultural Center. The property size is 6,800 square feet.
Key Highlights
- 6.16% Pro Forma Cap Rate
- 100% Occupied as of March 2026
- Strong Rent Upside
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
$57,437
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
5.22%
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%
$1,148,740
$1.1M
Cap Rate 7%
$820,529
$820.5K
Cap Rate 9%
$638,189
$638.2K
Market Conditions
NOI Build-Up for 6,800 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
$110.2K $16.20/SF
− Vacancy
−$5.7K −$0.84/SF
EGI
$104.4K $15.36/SF
− OpEx
−$47.0K −$6.91/SF
NOI
$57.4K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,148,740
Cap Rate 7%
$820,529
Cap Rate 9%
$638,189
Alternative Uses
Best Use
Apartment 5plus
$820.5K
$718.0K – $957.3K
NOI $57,437 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,154 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with renovated units and rent upside.
Where is this apartment building located?
The property is located at 1225 1237 Menaul Blvd NW Albuquerque Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6.16% Pro Forma Cap Rate; 100% Occupied as of March 2026; Strong Rent Upside
