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Building Details

Year Built 1979

Listing Agency: Coldwell Banker Legacy

Listed By: Norton Ed Wray Show Phone

Source: Carnm.resimplifi

Added: May 8, 2025 Changed: Oct 11 Last Checked: Oct 14 at 7:47PM

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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 Coldwell Banker Legacy

Investment Insights

Based on property information with market context.

This 10,000-square-foot manufacturing property, constructed in 1979, contains six attached bays within a light-industrial building. Each bay has approximately 15-foot ceilings and a 10-foot roll-up door, providing consistent access and usable vertical clearance across the property. NR-LM zoning supports its industrial positioning, while paved parking serves the building.

The property is located next to Kirkland Air Force Base and is fully tenant-occupied by long-standing tenants. Its bay layout, loading access, and existing occupancy provide a defined operating configuration for industrial users and investors seeking an established commercial asset.

Key Highlights

• 10,000‑square‑foot manufacturing property with six attached bays
• Approximately 15‑foot ceilings throughout the bays
• Each unit includes a 10‑foot roll‑up door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,165

Cap Rate

7.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,203,300 $1.2M

Cap Rate 7%

$859,500 $859.5K

Cap Rate 9%

$668,500 $668.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,000 SF

Gross rent

$90.0K $9.00/SF

− Vacancy

−$4.1K −$0.41/SF

EGI

$86.0K $8.59/SF

− OpEx

−$25.8K −$2.58/SF

NOI

$60.2K $6.02/SF

Area

Albuquerque, NM

Vacancy

4.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,203,300

Cap Rate 7%

$859,500

Cap Rate 9%

$668,500

Alternative Uses

Best Use

Industrial

$859.5K

$752.1K – $1.00M (±1% cap)

NOI $60,165 @ 7.0% cap · market cap 7.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.42M

$2.12M – $2.82M (±1% cap)

NOI $169,344 @ 7.0% cap · market cap 21.17%

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

Property Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Law Firm Food Market Locksmith Carpet & Flooring Store Computer & Electronic Repair Catering Service

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

1,015

Businesses Nearby

Explore this area Business Placement

Demographics for 87123, NM

44,110

Population

20,533

Households

2.1

Avg Household Size

40

Median Age

33%

College-Educated

89%

High-School Grad

28.9 sq mi

ZIP Area

1,526

Density / Sq Mi

$61,552

Median Household Income

$35,867

Median Earnings

$995

Median Rent

$236,400

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Multi-tenant industrial configuration with attached bays, roll-up access, paved parking, and full occupancy.

Where is this manufacturing property located?

The property is located at 9921 Southern Blvd SE Albuquerque, NM.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 10,000‑square‑foot manufacturing property with six attached bays; Approximately 15‑foot ceilings throughout the bays; Each unit includes a 10‑foot roll‑up door