Refrigerated Cold Storage
For Sale
$7,500,000
3041 University Blvd SE, Albuquerque, NM 87106
Cold-storage improvements include a refrigerated dock, cooler, and freezer areas.
Property Size64,000 SF
Price / SF$117.19
Days on Market1081
Property Features for 3041 University Blvd SE
General Information
Standard status
Active
Size
64,000 SF
Property subtype
Industrial
Zoning
IP
Warehouse & Industrial
Three-Phase Power
Yes
Heavy Power
Yes
Cold Storage
Yes
Additional Details
Highway Access
Yes
Amenities
Water
Sewer
Building Details
Year Built
1991
Listing Agency:
RIO Real Estate Investement Opportunities
(505) 296-6388
Listed By:
Tim MacEachen
(505) 296-6388
Source:
Carnm.resimplifi
Added: Sep 15, 2023
Changed: Aug 30
Last Checked: Aug 30 at 1:39AM
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 RIO Real Estate Investement Opportunities
Investment Insights
Based on property information with market context.
This 64,000-square-foot refrigerated cold storage facility was built in 1991 and includes dedicated cooler and freezer areas along with a refrigerated dock. Heavy electrical service with 3-phase power throughout supports the building’s cold-storage configuration.
The property is located at 3041 University Blvd SE in Albuquerque, with access to the full interchange connecting Interstate 25 and Sunport Boulevard. Its setting provides proximity to the airport area and established regional roadway access.
The property is located at 3041 University Blvd SE in Albuquerque, with access to the full interchange connecting Interstate 25 and Sunport Boulevard. Its setting provides proximity to the airport area and established regional roadway access.
Key Highlights
- 64,000 SF refrigerated cold storage facility
- Refrigerated dock with dedicated cooler and freezer areas
- Heavy electrical service with 3‑phase power throughout
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
$438,682
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
5.85%
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%
$8,773,640
$8.8M
Cap Rate 7%
$6,266,886
$6.3M
Cap Rate 9%
$4,874,244
$4.9M
Market Conditions
NOI Build-Up for 64,000 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
$537.6K $8.40/SF
− Vacancy
−$21.5K −$0.34/SF
EGI
$516.1K $8.06/SF
− OpEx
−$77.4K −$1.21/SF
NOI
$438.7K $6.85/SF
Area
Albuquerque, NM
Vacancy
4.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$8,773,640
Cap Rate 7%
$6,266,886
Cap Rate 9%
$4,874,244
Alternative Uses
Best Use
Warehouse
$6.27M
$5.48M – $7.31M
NOI $438,682 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.48M
$13.55M – $18.06M
NOI $1,083,802 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
431
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 Industrial 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?
Refrigerated & cold storage - Cold-storage improvements include a refrigerated dock, cooler, and freezer areas.
Where is this refrigerated & cold storage located?
The property is located at 3041 University Blvd SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 64,000 SF refrigerated cold storage facility; Refrigerated dock with dedicated cooler and freezer areas; Heavy electrical service with 3‑phase power throughout
