Multi-Tenant Strip
For Sale
$1,700,000
1301-1311b San Mateo Blvd NE, Albuquerque, NM 87110
Separate commercial suites support retail, office, salon, wellness, and service-oriented uses.
Property Size8,155 SF
Price / SF$208.46
Days on Market152
Property Features for 1301-1311b San Mateo Blvd NE
General Information
Standard status
Active
Size
8,155 SF
Property subtype
Investment
Zoning
C-1 Neighborhood Commercial Zone
Additional Details
Asking Price
$1,700,000
Amenities
reception areas
waiting rooms
treatment rooms
open spaces
storage
multiple restrooms
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1956
Buildings
1
Building Size
8,155 SF
Tenancy
Multi
Listing Agency:
LPT Realty
(505) 804-2139
Listed By:
Silesha Naden · License #42168
(505) 804-2139
Source:
Carnm.resimplifi
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 2:39PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This strip mall at 1301-1311b San Mateo Blvd NE in Albuquerque contains approximately 8,155 SF across seven separate commercial units. Suite sizes range from 943 SF to 1,832 SF, with layouts that include reception areas, waiting rooms, treatment rooms, open areas, storage, utility spaces, service areas, and multiple restrooms. The configuration supports a range of retail, office, salon, wellness, and service-based operations.
The property was built in 1956 and includes a newer roof along with updated refrigerated air and heat combination units. Unit sizes are 1,261 SF at 1301, 1,001 SF at 1303, 943 SF at 1305, 953 SF at 1307, 966 SF at 1309, 1,832 SF at 1311, and 1,515 SF at 1311b. The property is zoned C-1 Neighborhood Commercial Zone and offers street exposure along San Mateo Blvd NE.
The property was built in 1956 and includes a newer roof along with updated refrigerated air and heat combination units. Unit sizes are 1,261 SF at 1301, 1,001 SF at 1303, 943 SF at 1305, 953 SF at 1307, 966 SF at 1309, 1,832 SF at 1311, and 1,515 SF at 1311b. The property is zoned C-1 Neighborhood Commercial Zone and offers street exposure along San Mateo Blvd NE.
Key Highlights
- Approximately 8,155 SF divided among 7 separate commercial units
- Seven‑unit layout with suites ranging from 943 SF to 1,832 SF
- C‑1 Neighborhood Commercial Zone
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
$117,224
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
6.90%
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%
$2,344,480
$2.3M
Cap Rate 7%
$1,674,629
$1.7M
Cap Rate 9%
$1,302,489
$1.3M
Market Conditions
NOI Build-Up for 8,155 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
$181.0K $22.20/SF
− Vacancy
−$13.6K −$1.67/SF
EGI
$167.5K $20.54/SF
− OpEx
−$50.2K −$6.16/SF
NOI
$117.2K $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%
$2,344,480
Cap Rate 7%
$1,674,629
Cap Rate 9%
$1,302,489
Alternative Uses
Best Use
Retail
$1.67M
$1.47M – $1.95M
NOI $117,224 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,100 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
67k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
24,416 visits/mo
0.1 miles
SONIC Drive In
Dining
12,118 visits/mo
0.2 miles
Starbucks
Dining
9,002 visits/mo
0.3 miles
Burger King
Dining
7,458 visits/mo
0.2 miles
Taco Bell
Dining
6,845 visits/mo
0.2 miles
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 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 - Separate commercial suites support retail, office, salon, wellness, and service-oriented uses.
Where is this strip mall located?
The property is located at 1301-1311b San Mateo Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 8,155 SF divided among 7 separate commercial units; Seven‑unit layout with suites ranging from 943 SF to 1,832 SF; C‑1 Neighborhood Commercial Zone
