Three-Suite NNN
For Sale
Contact for pricing
119 San Pasquale Ave SW, Albuquerque, NM 87104
Multi-suite commercial property with a long-term restaurant tenant and lease escalations near Old Town and downtown.
Property Size4,929 SF
Price / SF$194.77
Days on Market523
Property Features for 119 San Pasquale Ave SW
General Information
Standard status
Active
Size
4,929 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
eXp Realty
(505) 234-6225
Listed By:
Jimmie Norris · License #52531
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Aug 23
Last Checked: Aug 22 at 7:31AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 4,929-square-foot NNN property is configured with three suites and includes a long-term restaurant tenant. The tenant renewed its lease in March 2025, with escalations incorporated into the lease terms. The property provides a multi-suite commercial configuration with ongoing NNN lease structure.
The site is across from Old Town and near downtown Albuquerque. It is positioned in the Lomas & Central merge area, where traffic is noted along the surrounding roadway network. The property address is 119 San Pasquale Ave SW, Albuquerque, NM 87104.
The site is across from Old Town and near downtown Albuquerque. It is positioned in the Lomas & Central merge area, where traffic is noted along the surrounding roadway network. The property address is 119 San Pasquale Ave SW, Albuquerque, NM 87104.
Key Highlights
- 4,929‑square‑foot NNN property
- Three suites within the property
- Long‑term restaurant tenant renewed its lease in March 2025
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
$70,852
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
7.38%
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%
$1,417,040
$1.4M
Cap Rate 7%
$1,012,171
$1.0M
Cap Rate 9%
$787,244
$787.2K
Market Conditions
NOI Build-Up for 4,929 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
$109.4K $22.20/SF
− Vacancy
−$8.2K −$1.67/SF
EGI
$101.2K $20.54/SF
− OpEx
−$30.4K −$6.16/SF
NOI
$70.9K $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%
$1,417,040
Cap Rate 7%
$1,012,171
Cap Rate 9%
$787,244
Alternative Uses
Best Use
Retail
$1.01M
$885.7K – $1.18M
NOI $70,852 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,470 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 93%
Hotels & Casinos 4%
Beauty & Spa 3%
McDonald's
Dining
19,913 visits/mo
0.4 miles
Wendy's
Dining
11,984 visits/mo
0.1 miles
Baskin-Robbins
Dining
3,868 visits/mo
0.4 miles
Econo Lodge Old Town
Hotels & Casinos
1,434 visits/mo
0.5 miles
Aveda Institute
Beauty & Spa
1,087 visits/mo
0.1 miles
Demographics for 87104, NM
12,537
Population
6,628
Households
1.9
Avg Household Size
43
Median Age
48%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
2,985
Density / Sq Mi
$67,714
Median Household Income
$55,156
Median Earnings
$1,022
Median Rent
$300,000
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?
NNN property - Multi-suite commercial property with a long-term restaurant tenant and lease escalations near Old Town and downtown.
Where is this nnn property located?
The property is located at 119 San Pasquale Ave SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 4,929‑square‑foot NNN property; Three suites within the property; Long‑term restaurant tenant renewed its lease in March 2025
