Freestanding Mixed-Use
For Sale
$450,000
6717 Lomas Blvd. NE, Albuquerque, NM 87110
Brick construction, flexible interior space, fenced outdoor area, and mixed-use zoning support varied commercial operations.
Property Size3,500 SF
Price / SF$128.57
Days on Market563
Property Features for 6717 Lomas Blvd. NE
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
10
Property subtype
Retail
Zoning
MX-M
Site & Location
Corner Location
Yes
Traffic Count
25,000 vehicles/day
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
monument signage
front awning
updated storefront windows
fenced outdoor area
Power
Water
Sewer
Natural Gas
10 Parking Spaces
Building Details
Year Built
1958
Buildings
1
Building Size
3,500 SF
Construction
brick
Listing Agency:
Limitless Realty, LLC.
(505) 933-8888
Listed By:
Charles Benns
(505) 933-8888
Source:
Carnm.resimplifi
Added: Feb 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:09AM
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 Limitless Realty, LLC.
Investment Insights
Based on property information with market context.
This 3,500-square-foot freestanding mixed-use property combines a retail-oriented storefront with private offices, workstations, storage, and warehouse space. The brick building includes two restrooms, updated storefront windows, a front awning, and a newer roof. A fenced outdoor area adds space for storage, parking, or work activity, with up to 10 on-site parking spaces. Mixed-use zoning is identified as MX-M and allows on-site living.
Positioned on the corner of Lomas Blvd. NE, the property sits directly across from the Fairgrounds and a couple of blocks west of Louisiana. The site benefits from monument signage and reported daily traffic of more than 25,000 vehicles. The Fairgrounds is reported to draw approximately 497,000 visitors annually, adding substantial activity to the surrounding area.
Positioned on the corner of Lomas Blvd. NE, the property sits directly across from the Fairgrounds and a couple of blocks west of Louisiana. The site benefits from monument signage and reported daily traffic of more than 25,000 vehicles. The Fairgrounds is reported to draw approximately 497,000 visitors annually, adding substantial activity to the surrounding area.
Key Highlights
- 3,500‑square‑foot freestanding brick mixed‑use building
- MX‑M zoning allows on‑site living
- Flexible interior with storefront, private offices, workstations, storage, and warehouse space
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
$31,122
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
6.92%
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%
$622,440
$622.4K
Cap Rate 7%
$444,600
$444.6K
Cap Rate 9%
$345,800
$345.8K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$2.5K −$0.72/SF
EGI
$47.9K $13.68/SF
− OpEx
−$16.8K −$4.79/SF
NOI
$31.1K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$622,440
Cap Rate 7%
$444,600
Cap Rate 9%
$345,800
Alternative Uses
Best Use
Retail
$718.7K
$628.9K – $838.5K
NOI $50,311 @ 7.0% cap · market cap 11.18%
Second Best
Mixed Use
$607.5K
$531.6K – $708.8K
NOI $42,525 @ 7.0% cap · market cap 9.45%
Theoretical Best
Office A
$846.7K
$740.9K – $987.8K
NOI $59,270 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25,000 VPD
Traffic count
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction, flexible interior space, fenced outdoor area, and mixed-use zoning support varied commercial operations.
Where is this mixed-use property located?
The property is located at 6717 Lomas Blvd. NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,500‑square‑foot freestanding brick mixed‑use building; MX‑M zoning allows on‑site living; Flexible interior with storefront, private offices, workstations, storage, and warehouse space
