Three-Building Mixed-Use
For Sale
$475,000
15001508 Bridge Boulevard, Albuquerque, NM 87105
Mixed-use property featuring three separate buildings on three lots with parking, sold together as-is.
Property Size2,975 SF
Price / SF$159.66
Days on Market1806
Property Features for 15001508 Bridge Boulevard
General Information
Standard status
Active
Size
2,975 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,371
Amenities
3
10 Parking Spaces.
These are approximate dim
Listing Agency:
Sachs5th Real Estate & Auction
(505) 670-6688
Listed By:
Karen Sachs-Padoven · License #54872
(505) 670-6688
Source:
Xome
Added: Sep 1, 2021
Changed: Aug 8
Last Checked: Aug 11 at 4:53AM
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 Sachs5th Real Estate & Auction
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes three separate buildings located on three lots, sold together under one price. The buildings and lots provide on-site parking and are being conveyed “as is,” with no guarantees or contingencies. Square footage is approximate, and the buyer is responsible for measuring if material to their decision.
The property is described as part of Lots One (1), Two (2), and Three (3) of Block 2 of the Hamilton Addition. The parcel identifiers provided are for lots 1 and 2, and lot 3, as listed in the remarks.
The address is 1500 and 1508 S Bridge Boulevard SW SW, Albuquerque, NM 87105.
The property is described as part of Lots One (1), Two (2), and Three (3) of Block 2 of the Hamilton Addition. The parcel identifiers provided are for lots 1 and 2, and lot 3, as listed in the remarks.
The address is 1500 and 1508 S Bridge Boulevard SW SW, Albuquerque, NM 87105.
Key Highlights
- Three separate buildings on three lots sold together as one package at the Five Points intersection of Bridge Blvd & Sunset
- 10 parking spaces with guest parking, on site
- Loading dock plus extra storage, with access via a paved road
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
$28,114
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
5.92%
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%
$562,280
$562.3K
Cap Rate 7%
$401,629
$401.6K
Cap Rate 9%
$312,378
$312.4K
Market Conditions
NOI Build-Up for 2,975 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
$50.0K $16.80/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$45.0K $15.12/SF
− OpEx
−$16.9K −$5.67/SF
NOI
$28.1K $9.45/SF
Area
ZIP 87105
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
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%
$562,280
Cap Rate 7%
$401,629
Cap Rate 9%
$312,378
Alternative Uses
Best Use
Mixed Use
$401.6K
$351.4K – $468.6K
NOI $28,114 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$649.1K
$568.0K – $757.3K
NOI $45,439 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring three separate buildings on three lots with parking, sold together as-is.
Where is this mixed-use property located?
The property is located at 15001508 Bridge Boulevard Albuquerque, NM.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three separate buildings on three lots sold together as one package at the Five Points intersection of Bridge Blvd & Sunset; 10 parking spaces with guest parking, on site; Loading dock plus extra storage, with access via a paved road
