Multi-Tenant Retail Strip
For Sale
$1,700,000
1301 San Mateo Boulevard, Albuquerque, NM 87110
Seven retail units total about 8,155 square feet, offering flexible space for investors or owner-occupants.
Property Size8,155 SF
Price / SF$208.46
Days on Market145
Property Features for 1301 San Mateo Boulevard
General Information
Standard status
Active
Size
8,155 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,021
Amenities
3
15 Parking Spaces.
Building Details
Tenancy
Multi
Listing Agency:
LPT Realty
(505) 804-2139
Listed By:
Silesha Montano Naden · License #42168
(505) 804-2139
Source:
Xome
Added: Mar 20
Changed: Aug 7
Last Checked: Aug 11 at 5:42AM
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 multi-tenant retail strip center includes seven separate units, totaling approximately 8,155 square feet. The offering includes Unit 1301 (1,261 SF), Unit 1303 (1,001 SF), Unit 1305 (943 SF), Unit 1307 (953 SF), Unit 1309 (966 SF), Unit 1311 (1,832 SF), and Unit 1311B (1,515 SF). Each unit is described as having functional layouts suitable for a variety of commercial uses.
The property is located along San Mateo Blvd NE in Albuquerque and is positioned in a high-visibility corridor.
Owner financing is available. The unit mix supports buyers looking for supplemental rental income through a diversified multi-tenant configuration.
The property is located along San Mateo Blvd NE in Albuquerque and is positioned in a high-visibility corridor.
Owner financing is available. The unit mix supports buyers looking for supplemental rental income through a diversified multi-tenant configuration.
Key Highlights
- Multi‑tenant commercial property with seven retail units totaling approximately 8,155 SF
- Unit mix includes 1,261 SF, 1,001 SF, 943 SF, 953 SF, 966 SF, 1,832 SF, and 1,515 SF units
- Evaporative cooling on the property
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
1,158
Businesses Nearby
134k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 47%
Shops & Services 20%
Dining 20%
Home Improvements & Furnishings 7%
Smith's
Groceries
42,932 visits/mo
0.5 miles
Sprouts Farmers Market
Groceries
20,894 visits/mo
0.2 miles
Starbucks
Dining
12,568 visits/mo
0.5 miles
Taco Bell
Dining
9,430 visits/mo
0.1 miles
Dollar General
Shops & Services
8,745 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
Strip mall - Seven retail units total about 8,155 square feet, offering flexible space for investors or owner-occupants.
Where is this strip mall located?
The property is located at 1301 San Mateo Boulevard 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: Multi‑tenant commercial property with seven retail units totaling approximately 8,155 SF; Unit mix includes 1,261 SF, 1,001 SF, 943 SF, 953 SF, 966 SF, 1,832 SF, and 1,515 SF units; Evaporative cooling on the property
