Open-Plan Flex
For Sale
$215,000
136 Washington St Unit H, Albuquerque, NM 87108
Adaptable commercial unit with exposed systems, plumbing connections, and convenient access to transit and neighborhood amenities.
Property Size1,200 SF
Price / SF$179.17
Days on Market17
Property Features for 136 Washington St Unit H
General Information
Standard status
Active
Size
1,200 SF
Additional Details
Public Transit
Yes
Listing Agency:
Momentum Real Estate Group
(505) 362-6823
Listed By:
Margaret L Henderson
Source:
Findalbuquerqueproperties
Added: Aug 13
Changed: Aug 27
Last Checked: Aug 28 at 12:22PM
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 Momentum Real Estate Group
Investment Insights
Based on property information with market context.
This 1,200 SF flex space has an open interior configuration with exposed ceiling elements and ductwork. The build-out includes a half bath, washer/dryer hookups, and plumbing stub-outs along the main wall, supporting layouts that require multiple water connections. Previous occupants included a veterinary dentistry practice and a tattoo studio.
The unit is located at 136 Washington St SE, Unit H, one block south of Central Avenue and the Albuquerque Rapid Transit line. Highland Station is nearby, with restaurants, shopping, and other Nob Hill amenities within walking distance. The combination of an adaptable floor plan, existing plumbing infrastructure, and transit-oriented setting supports a range of commercial, office, studio, retail, personal-service, or food-related concepts, subject to applicable approvals.
The unit is located at 136 Washington St SE, Unit H, one block south of Central Avenue and the Albuquerque Rapid Transit line. Highland Station is nearby, with restaurants, shopping, and other Nob Hill amenities within walking distance. The combination of an adaptable floor plan, existing plumbing infrastructure, and transit-oriented setting supports a range of commercial, office, studio, retail, personal-service, or food-related concepts, subject to applicable approvals.
Key Highlights
- 1,200 SF flex space at 136 Washington St SE #Unit H
- Open interior with exposed ceiling and ductwork
- Half bath plus washer/dryer hookups
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
$15,941
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
7.41%
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%
$318,820
$318.8K
Cap Rate 7%
$227,729
$227.7K
Cap Rate 9%
$177,122
$177.1K
Market Conditions
NOI Build-Up for 1,200 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
$25.9K $21.60/SF
− Vacancy
−$4.7K −$3.89/SF
EGI
$21.3K $17.71/SF
− OpEx
−$5.3K −$4.43/SF
NOI
$15.9K $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%
$318,820
Cap Rate 7%
$227,729
Cap Rate 9%
$177,122
Alternative Uses
Best Use
Office B
$227.7K
$199.3K – $265.7K
NOI $15,941 @ 7.0% cap · market cap 7.41%
Second Best
Flex RnD
$152.4K
$133.4K – $177.8K
NOI $10,670 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$290.3K
$254.0K – $338.7K
NOI $20,321 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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?
Flex space - Adaptable commercial unit with exposed systems, plumbing connections, and convenient access to transit and neighborhood amenities.
Where is this flex space located?
The property is located at 136 Washington St Unit H Albuquerque, NM.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,200 SF flex space at 136 Washington St SE #Unit H; Open interior with exposed ceiling and ductwork; Half bath plus washer/dryer hookups
