Mission Revival Office
For Sale
$400,000
Pending
3104 Monte Vista Blvd NE, Albuquerque, NM 87106
Single-story professional workspace with private offices, basement storage, parking, and MX-T zoning for commercial or live-work use.
Property Size1,734 SF
Days on Market481
Property Features for 3104 Monte Vista Blvd NE
General Information
Standard status
Pending
Size
1,734 SF
Total Parking Spaces
8
Property subtype
Office
Zoning
MX-T
Additional Details
Highway Access
Yes
Amenities
breakroom/kitchen
basement for storage
central heat and cooling
high-speed internet
Power
Water
Sewer
Natural Gas
8 Parking Spaces
Building Details
Year Built
1926
Stories
1
Tenancy
Single Tenant
Construction
Mission Revival
Listing Agency:
Keller Williams Realty - Academy
(505) 269-4584
Listed By:
Lisa Godin
(505) 269-4584
Source:
Carnm.resimplifi
Added: May 6, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:51AM
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 Keller Williams Realty - Academy
Investment Insights
Based on property information with market context.
Built in 1926, this 1,734-square-foot Mission Revival office property provides a single-story layout with 1–3 private offices, a breakroom or kitchen, wood and tile flooring, and a partially heated basement for storage or additional use. The building has received several functional updates, including a metal roof, electrical improvements, newer windows, central heating and refrigerated air, and high-speed internet. Off-street parking is also available.
The property is located in Albuquerque’s UNM/Nob Hill district with access to I-25 and I-40, UNM, UNMH, Presbyterian Hospital, Nob Hill, and Downtown. MX-T zoning supports Commercial/Professional use or a live-work configuration. Its current office setup and flexible layout accommodate a range of professional, medical, dental, creative, and service-oriented operations supported by the source information.
The property is located in Albuquerque’s UNM/Nob Hill district with access to I-25 and I-40, UNM, UNMH, Presbyterian Hospital, Nob Hill, and Downtown. MX-T zoning supports Commercial/Professional use or a live-work configuration. Its current office setup and flexible layout accommodate a range of professional, medical, dental, creative, and service-oriented operations supported by the source information.
Key Highlights
- 1,734‑square‑foot Mission Revival office property built in 1926
- MX‑T zoning supports Commercial/Professional use or live‑work
- Single‑story layout with 1–3 private offices and breakroom/kitchen
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
$23,034
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
5.76%
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%
$460,680
$460.7K
Cap Rate 7%
$329,057
$329.1K
Cap Rate 9%
$255,933
$255.9K
Market Conditions
NOI Build-Up for 1,734 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
$37.5K $21.60/SF
− Vacancy
−$6.7K −$3.89/SF
EGI
$30.7K $17.71/SF
− OpEx
−$7.7K −$4.43/SF
NOI
$23.0K $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%
$460,680
Cap Rate 7%
$329,057
Cap Rate 9%
$255,933
Alternative Uses
Best Use
Office B
$329.1K
$287.9K – $383.9K
NOI $23,034 @ 7.0% cap · market cap 5.76%
Second Best
Healthcare Medical
$316.8K
$277.2K – $369.7K
NOI $22,179 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$419.5K
$367.1K – $489.4K
NOI $29,364 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Single-story professional workspace with private offices, basement storage, parking, and MX-T zoning for commercial or live-work use.
Where is this office units located?
The property is located at 3104 Monte Vista Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,734‑square‑foot Mission Revival office property built in 1926; MX‑T zoning supports Commercial/Professional use or live‑work; Single‑story layout with 1–3 private offices and breakroom/kitchen
