Freestanding Office Building in
For Sale
$1,495,000
7000 Prospect Place Northeast, Albuquerque, NM 87110
Freestanding office building with long-term tenant in place.
Property Size8,256 SF
Price / SF$181.08
Days on Market158
Property Features for 7000 Prospect Place Northeast
General Information
Standard status
Active
Size
8,256 SF
Property subtype
Office
Listing Agency:
CBRE - Albuquerque
(505) 837-4902
Listed By:
Marguerite Haverly · License #47516
(505) 837-4902
Source:
Cbre
Added: Mar 25
Changed: Aug 26
Last Checked: Aug 29 at 6:30AM
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 CBRE - Albuquerque
Investment Insights
Based on property information with market context.
The property at 7000 Prospect Pl NE is a freestanding office building located in the Uptown submarket of Albuquerque, NM. The building's design allows for single or multi-tenant scenarios. It features shared amenities including a full kitchen/breakroom and an interior courtyard with mature landscaping. The building has secured access and monument signage. Parking is available at a ratio of 5 per 1,000 square feet. The property is located within walking distance to hotels, dining establishments, shopping, entertainment and fitness options. The current tenant, Proud Moments ABA, has a lease commencement date of 7/1/24 with an 88 month term, at $10,664 per month under a modified gross lease structure.
Key Highlights
- Freestanding office building in Uptown Albuquerque with a long‑term tenant.
- Current tenant: Proud Moments ABA, lease commencing 7/1/24 with an 88‑month term, generating $10,664/month.
- Located within walking distance to numerous Uptown amenities.
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
$109,673
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
7.34%
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%
$2,193,460
$2.2M
Cap Rate 7%
$1,566,757
$1.6M
Cap Rate 9%
$1,218,589
$1.2M
Market Conditions
NOI Build-Up for 8,256 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
$178.3K $21.60/SF
− Vacancy
−$32.1K −$3.89/SF
EGI
$146.2K $17.71/SF
− OpEx
−$36.6K −$4.43/SF
NOI
$109.7K $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%
$2,193,460
Cap Rate 7%
$1,566,757
Cap Rate 9%
$1,218,589
Alternative Uses
Best Use
Office B
$1.57M
$1.37M – $1.83M
NOI $109,673 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,810 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
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 - Freestanding office building with long-term tenant in place.
Where is this office building located?
The property is located at 7000 Prospect Place Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Freestanding office building in Uptown Albuquerque with a long‑term tenant.; Current tenant: Proud Moments ABA, lease commencing 7/1/24 with an 88‑month term, generating $10,664/month.; Located within walking distance to numerous Uptown amenities.
