Industrial Flex
For Sale
Contact for pricing
1823 Commercial St NE, Albuquerque, NM 87102
Industrial/flex property offering versatile suites suitable for investment or owner-user occupancy.
Property Size4,961 SF
Price / SF$108
Days on Market483
Property Features for 1823 Commercial St NE
General Information
Standard status
Active
Size
4,961 SF
Property subtype
INDUSTRIAL
Properties For Sale
at 1823 Commercial St NE Contact us- Floor
- 1
- Size
- 8,096 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
1823 Commercial St NE
Versatile Industrial/Flex Investment or Owner-User Opportunity
1823 Commercial St...
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Listing Agency:
BHHS - New Mexico Properties | Albuquerque
(505) 798-6300
Listed By:
Jacob Lopez · License #50903
(505) 328-5156
Source:
Moodyscre
Added: May 14, 2025
Changed: Aug 17
Last Checked: Aug 14 at 7:58AM
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 BHHS - New Mexico Properties | Albuquerque
Investment Insights
Based on property information with market context.
1823 Commercial St NE is a versatile industrial/flex property offering functional suite space for either investment or owner-user use. The offering is presented as high-functioning industrial suites designed to provide flexibility in how the space is occupied.
The property is located in a centrally located area of Albuquerque, with access positioned to serve a range of industrial and flex requirements.
For buyers or tenants seeking adaptable industrial space, this property’s suite configuration supports occupancy options aligned with the property’s stated investment and owner-user flexibility.
The property is located in a centrally located area of Albuquerque, with access positioned to serve a range of industrial and flex requirements.
For buyers or tenants seeking adaptable industrial space, this property’s suite configuration supports occupancy options aligned with the property’s stated investment and owner-user flexibility.
Key Highlights
- 1823 Commercial St NE offers industrial/flex suites for investment or owner‑user occupancy
- Versatile industrial/flex setup with functional layouts suitable for a variety of users
- Centrally located area of Albuquerque
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
$44,113
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
8.23%
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%
$882,260
$882.3K
Cap Rate 7%
$630,186
$630.2K
Cap Rate 9%
$490,144
$490.1K
Market Conditions
NOI Build-Up for 4,961 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
$71.4K $14.40/SF
− Vacancy
−$3.6K −$0.72/SF
EGI
$67.9K $13.68/SF
− OpEx
−$23.8K −$4.79/SF
NOI
$44.1K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$882,260
Cap Rate 7%
$630,186
Cap Rate 9%
$490,144
Alternative Uses
Best Use
Flex RnD
$630.2K
$551.4K – $735.2K
NOI $44,113 @ 7.0% cap · market cap 8.23%
Second Best
Industrial
$426.4K
$373.1K – $497.5K
NOI $29,848 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,012 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Southwest Savories Aviation Catering LLC — 616 Lomas Blvd NW Suite C, Albuquerque, NM 87102
- Albuquerque Commissary Kitchen — 1601 4th St NW, Albuquerque, NM 87102
- ABQ Ice Cream — 1601 4th St NW, Albuquerque, NM 87102
- High Mountain Cusine Catering — 1807 2nd St NW Studio 61, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Flex space - Industrial/flex property offering versatile suites suitable for investment or owner-user occupancy.
Where is this flex space located?
The property is located at 1823 Commercial St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,788.
What are key features of this property?
This property features: 1823 Commercial St NE offers industrial/flex suites for investment or owner‑user occupancy; Versatile industrial/flex setup with functional layouts suitable for a variety of users; Centrally located area of Albuquerque
