Single-Tenant Medical Office
For Sale
$1,196,400
1300 Wyoming Blvd NE, Albuquerque, NM 87112
Stand-alone NNN leased medical office building on a major Albuquerque trade corridor, designed for long-term tenant stability.
Property Size2,844 SF
Price / SF$420.68
Days on Market96
Property Features for 1300 Wyoming Blvd NE
General Information
Standard status
Active
Size
2,844 SF
Property subtype
Healthcare
Zoning
MX-M
Building Details
Year Built
1980
Tenancy
Single
Listing Agency:
Absolute Investment Realty
Listed By:
Alfredo Barrenechea · License #19300
(505) 401-0135
Source:
Carnm.resimplifi
Added: Jun 17
Changed: Sep 9
Last Checked: Sep 20 at 5:22AM
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 Absolute Investment Realty
Investment Insights
Based on property information with market context.
This stand-alone single-tenant medical office building is offered on an NNN basis. The property is configured to support a medical office use, providing a dedicated facility for one tenant. At approximately 2,844 square feet, the building is positioned as a purpose-built option within a developed commercial corridor.
Located on Wyoming Blvd NE in Albuquerque, the asset benefits from its placement along one of the city’s major high-traffic trade corridors. The property offers visibility and accessibility from Wyoming Boulevard and sits within an established mix of retail, dining, and service-oriented businesses. Neighborhood shopping centers and major retailers are described as being within close proximity, supporting convenient day-to-day access for patients, staff, and visitors.
For buyers seeking a leased medical office investment with a single-tenant NNN structure, this offering provides an owner-occupied style asset within a familiar commercial setting. Its stand-alone configuration and direct corridor access can support continuity of operations for the existing medical office tenant, while aligning with investor underwriting preferences for net-leased properties.
Located on Wyoming Blvd NE in Albuquerque, the asset benefits from its placement along one of the city’s major high-traffic trade corridors. The property offers visibility and accessibility from Wyoming Boulevard and sits within an established mix of retail, dining, and service-oriented businesses. Neighborhood shopping centers and major retailers are described as being within close proximity, supporting convenient day-to-day access for patients, staff, and visitors.
For buyers seeking a leased medical office investment with a single-tenant NNN structure, this offering provides an owner-occupied style asset within a familiar commercial setting. Its stand-alone configuration and direct corridor access can support continuity of operations for the existing medical office tenant, while aligning with investor underwriting preferences for net-leased properties.
Key Highlights
- Single‑tenant NNN leased medical office building
- Stand‑alone building on Wyoming Blvd in Albuquerque, NM
- Located on a major high‑traffic trade corridor with strong accessibility
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
$37,780
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
3.16%
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%
$755,600
$755.6K
Cap Rate 7%
$539,714
$539.7K
Cap Rate 9%
$419,778
$419.8K
Market Conditions
NOI Build-Up for 2,844 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
$61.4K $21.60/SF
− Vacancy
−$11.1K −$3.89/SF
EGI
$50.4K $17.71/SF
− OpEx
−$12.6K −$4.43/SF
NOI
$37.8K $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%
$755,600
Cap Rate 7%
$539,714
Cap Rate 9%
$419,778
Alternative Uses
Best Use
Office B
$539.7K
$472.3K – $629.7K
NOI $37,780 @ 7.0% cap · market cap 3.16%
Second Best
Healthcare Medical
$519.7K
$454.7K – $606.3K
NOI $36,377 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$688.0K
$602.0K – $802.7K
NOI $48,161 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Stand-alone NNN leased medical office building on a major Albuquerque trade corridor, designed for long-term tenant stability.
Where is this medical office space located?
The property is located at 1300 Wyoming Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,196,400.
What are key features of this property?
This property features: Single‑tenant NNN leased medical office building; Stand‑alone building on Wyoming Blvd in Albuquerque, NM; Located on a major high‑traffic trade corridor with strong accessibility
