C-1 Retail Strip
For Sale
Contact for pricing
12700 San Rafael Ave. NE, Albuquerque, NM 87122
The retail strip center carries C-1 zoning and provides a substantial commercial footprint.
Property Size14,932 SF
Price / SF$272.58
Days on Market9
Property Features for 12700 San Rafael Ave. NE
General Information
Standard status
Active
Size
14,932 SF
Class
B
Property subtype
Retail
Zoning
C-1
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$280,842
Additional Details
Cap Rate
6.9%
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
NAI Sun Vista
(505) 998-5735
Listed By:
Todd Strickland · License #NM
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 4:45PM
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 retail strip mall contains 14,932 square feet and is identified under C-1 zoning. The property is located at 12700 San Rafael Ave. NE in Albuquerque, New Mexico, within the 87122 ZIP code.
The asset is presented with a 6.90% capitalization rate, providing a concise financial reference for evaluation alongside its retail configuration and commercial zoning.
The asset is presented with a 6.90% capitalization rate, providing a concise financial reference for evaluation alongside its retail configuration and commercial zoning.
Key Highlights
- 14,932 square feet of retail property
- C‑1 zoning
- 6.90% capitalization rate
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
$214,640
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
5.27%
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%
$4,292,800
$4.3M
Cap Rate 7%
$3,066,286
$3.1M
Cap Rate 9%
$2,384,889
$2.4M
Market Conditions
NOI Build-Up for 14,932 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
$331.5K $22.20/SF
− Vacancy
−$24.9K −$1.67/SF
EGI
$306.6K $20.54/SF
− OpEx
−$92.0K −$6.16/SF
NOI
$214.6K $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%
$4,292,800
Cap Rate 7%
$3,066,286
Cap Rate 9%
$2,384,889
Alternative Uses
Best Use
Retail
$3.07M
$2.68M – $3.58M
NOI $214,640 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,864 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 87122, NM
18,225
Population
7,139
Households
2.6
Avg Household Size
50
Median Age
73%
College-Educated
98%
High-School Grad
21.7 sq mi
ZIP Area
840
Density / Sq Mi
$161,299
Median Household Income
$83,874
Median Earnings
$1,900
Median Rent
$614,200
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - The retail strip center carries C-1 zoning and provides a substantial commercial footprint.
Where is this strip mall located?
The property is located at 12700 San Rafael Ave. NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $4,070,174.
What are key features of this property?
This property features: 14,932 square feet of retail property; C‑1 zoning; 6.90% capitalization rate
