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    Turnkey Cannabis Production Facility Title is generated by Realmo AI

    1510 & 1512 1st St NW, Albuquerque, NM

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    Industrial property with high-capacity electrical infrastructure, ideal for warehouse storage.

    Type:INDUSTRIAL
    Property size:
    15,230 SF
    Lot size:
    0.59 Acres
    Added:
    May 14, 2025
    Days on Market:
    388
    Last Refresh:
    May 20 at 8:23 pm

    Property Features for 1510 & 1512 1st St NW

    General Information

    Standard status
    Active
    Size
    15,230 SF
    Lot size
    0.59 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 1510 & 1512 1st St NW Contact us

    We can help!

    Listing Contact
    Christian File
    Christian File

    Listing agent Christian File License #50903

    Listing office BHHS - New Mexico Properties | Albuquerque

    Listing date May 14, 2025

    Source Moodyscre

    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 BHHS - New Mexico Properties | Albuquerque

    HighLights

    • Turnkey 2nd‑gen Cannabis Production Facility (15,230 SF) with over $1 million in improvements.
    • Massive Power Capacity: 2,500 amps, 3‑phase, 480V (upgraded Sept. 2021).
    • Total of 33,345 SF in Two Suites: 15,230 SF Clear Span and 18,115 SF with Mezzanine and Office Space.
    • High Ceilings: 18’–30’ throughout both suites.
    • Fully Sprinklered with New Riser, Heads, and Smoke Detection.
    • 1512 1st Suite includes a basement with forklift ramp accessibility.

    Overview

    This industrial property offers a total of 33,345 square feet, featuring two suites. One suite spans 15,230 square feet and is a clear span, turnkey, second-generation cannabis production facility with over $1 million in improvements. The other suite provides 18,115 square feet, including 5,175 square feet of mezzanine space and 1,065 square feet of office space. Both suites are equipped with high-capacity electrical infrastructure and ceiling heights ranging from 18 to 30 feet. The 15,230-square-foot suite includes 7,615 square feet on the first floor and 7,615 square feet in the basement, accessible via a forklift ramp. The clear span area measures 37 by 203 feet and features one drive-in dock door (16’ x 14’) and a secure entrance with magnetic key fob access. Infrastructure upgrades include massive power capacity of 2,500 amps, 3-phase, 480V (upgraded Sept. 2021), a fully sprinklered system with a new riser, heads, and smoke detection per code, refrigerated air throughout, R38 roof insulation for energy efficiency, newer sewer and water lines, and upgraded restrooms. The property is ideal for businesses needing high power capacity or warehouse storage without a yard requirement. The landlord can remove the cannabis build-out for the right terms.
    Location Intelligence

    Current Use by Public Records

    Cannabis Properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Law Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Los Poblanos Warehouse — Albuquerque, NM 87102
    • Zippy Shell — 3300 2nd St NW Suite B, Albuquerque, NM 87105
    • CubeSmart Self Storage — 720 1st St NW, Albuquerque, NM 87102
    • Chantel Express Enterprise — 500 4th St NW Ste#102-1020, Albuquerque, NM 87102
    • Cheap Self storage — 401 2nd St NW, Albuquerque, NM 87102

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.645
    Latitude
    35.098

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    FAQs

    What type of property is this?
    Warehouse - Industrial property with high-capacity electrical infrastructure, ideal for warehouse storage.
    Where is this warehouse located?
    The property is located at 1510 & 1512 1st St NW Albuquerque, NM.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Turnkey 2nd‑gen Cannabis Production Facility (15,230 SF) with over $1 million in improvements.; Massive Power Capacity: **2,500 amps, 3‑phase, 480V** (upgraded Sept. 2021).; Total of 33,345 SF in Two Suites: 15,230 SF Clear Span and 18,115 SF with Mezzanine and Office Space.
    (505) 235-8518 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christian File
    Christian File
    Real Estate License ID: 50903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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