Listing Agency: Weichert, Realtors Image

Listed By: Jamie Aris Morrison · License #50405 Show Phone

Source: Thesouthwestlife

Added: Aug 10 Changed: Sep 6 Last Checked: Oct 5 at 9:07PM

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Investment Insights

Based on property information with market context.

This 2,929-size commercial property combines a climate-controlled warehouse with a 12-foot bay door and a flexible multi-level interior. The upper floor contains three bedrooms and a TV lounge that can alternatively serve as four private offices. On the main level, the layout provides up to four additional offices, a break area, a bathroom, and a full kitchen.

Building systems include two combination HVAC units with smart temperature controls, updated lighting, and a tankless water heater. The property is located at 8612 Paseo Alameda NE B in Albuquerque, near Balloon Fiesta Park. Its warehouse, office, kitchen, and adaptable room configuration support a range of commercial or live-work arrangements.

Key Highlights

• Climate‑controlled warehouse with a 12' bay door
• Upper level includes 3 bedrooms and a TV lounge, or 4 private offices
• Main level offers up to 4 offices, a break area, and a bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,909

Cap Rate

4.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$778,180 $778.2K

Cap Rate 7%

$555,843 $555.8K

Cap Rate 9%

$432,322 $432.3K

Market Conditions

NOI Build-Up for 2,929 SF

Gross rent

$63.3K $21.60/SF

− Vacancy

−$11.4K −$3.89/SF

EGI

$51.9K $17.71/SF

− OpEx

−$13.0K −$4.43/SF

NOI

$38.9K $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 Rate 5%

$778,180

Cap Rate 7%

$555,843

Cap Rate 9%

$432,322

Alternative Uses

Best Use

Office B

$555.8K

$486.4K – $648.5K (±1% cap)

NOI $38,909 @ 7.0% cap · market cap 4.89%

Second Best

Mixed Use

$508.4K

$444.8K – $593.1K (±1% cap)

NOI $35,587 @ 7.0% cap · market cap 4.48%

Theoretical Best

Office A

$708.6K

$620.0K – $826.7K (±1% cap)

NOI $49,601 @ 7.0% cap · market cap 6.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Active Electric Inc Electrical Service Post-Tension Reinforcing Services General Contractor Apex Structural Contractors Construction Company School High School Altitude Roofing Roofing Company

Suggested Use

Top Pick Dental Office Restaurant Spa & Massage Center Bakery Parking Lot & Garage (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

483

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 87113, NM

16,380

Population

7,155

Households

2.3

Avg Household Size

39

Median Age

52%

College-Educated

94%

High-School Grad

14.9 sq mi

ZIP Area

1,099

Density / Sq Mi

$92,083

Median Household Income

$59,641

Median Earnings

$1,581

Median Rent

$362,100

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Climate-controlled warehouse space includes office, kitchen, and adaptable upper-level rooms.

Where is this flex space located?

The property is located at 8612 Paseo Alameda Ne B Albuquerque, NM.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: Climate‑controlled warehouse with a 12' bay door; Upper level includes 3 bedrooms and a TV lounge, or 4 private offices; Main level offers up to 4 offices, a break area, and a bathroom