Building Details

Tenancy Multi-Tenant

Listing Agency: SVN / Walt Arnold Commercial Brokerage, Inc.

Listed By: Walt Arnold · License #9117 Show Phone

Source: Carnm.resimplifi

Added: Jan 1, 2025 Changed: Oct 8 Last Checked: Oct 14 at 7:38PM

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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 SVN / Walt Arnold Commercial Brokerage, Inc.

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Investment Insights

Based on property information with market context.

Located at 401 San Felipe St NW in Albuquerque, this 4,056-square-foot mixed-use property combines commercial space with an upstairs apartment exceeding 2,000 square feet. The building is zoned MX-T and offers a configuration suited to both street-facing business activity and residential occupancy.

The property is situated in Old Town, an area identified with high foot traffic and nearby amenities. Its address places the building within Albuquerque’s established Old Town setting, while the combination of commercial and residential components provides a clearly defined mixed-use layout.

Key Highlights

• 4,056‑square‑foot mixed‑use building
• Upstairs apartment measuring over 2,000 square feet
• MX‑T zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,303

Cap Rate

2.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,166,060 $1.2M

Cap Rate 7%

$832,900 $832.9K

Cap Rate 9%

$647,811 $647.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,056 SF

Gross rent

$90.0K $22.20/SF

− Vacancy

−$6.8K −$1.67/SF

EGI

$83.3K $20.54/SF

− OpEx

−$25.0K −$6.16/SF

NOI

$58.3K $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 Rate 5%

$1,166,060

Cap Rate 7%

$832,900

Cap Rate 9%

$647,811

Alternative Uses

Best Use

Retail

$832.9K

$728.8K – $971.7K (±1% cap)

NOI $58,303 @ 7.0% cap · market cap 2.92%

Second Best

Mixed Use

$704.0K

$616.0K – $821.3K (±1% cap)

NOI $49,280 @ 7.0% cap · market cap 2.46%

Theoretical Best

Office A

$981.2K

$858.6K – $1.14M (±1% cap)

NOI $68,686 @ 7.0% cap · market cap 3.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Indian Treasures & Jewelry (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Dental Office Electrical Service Grocery & Convenience Store Auto Parts Store Computer & Electronic Repair Furniture & Home Goods

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

1,381

Businesses Nearby

97k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 78% Shops & Services 18% Beauty & Spa 2% Hotels & Casinos 1%

Starbucks Dining

29,064 visits/mo 0.5 miles

McDonald's Dining

19,913 visits/mo 0.3 miles

Speedway Shops & Services

17,765 visits/mo 0.5 miles

Wendy's Dining

11,984 visits/mo 0.3 miles

Blake's LotaBurger Dining

10,953 visits/mo 0.3 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

7.8% 2019

8.4% 2020

7.9% 2021

4.8% 2022

4.2% 2023

5.7% 2024

5.5% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - MX-T zoning supports a combined commercial and residential configuration in Albuquerque’s Old Town area.

Where is this mixed-use property located?

The property is located at 401 San Felipe St NW Albuquerque, NM.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: 4,056‑square‑foot mixed‑use building; Upstairs apartment measuring over 2,000 square feet; MX‑T zoning