Multifamily Property with Storage
For Sale
$510,000
Pending
1815 Girard Blvd Se, Albuquerque, NM 87106
Multifamily asset within a community that also includes storage units.
Property Size3,200 SF
Days on Market58
Property Features for 1815 Girard Blvd Se
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Vhl
Taxes and HOA fees
Annual Taxes
$4,533
Amenities
storage units
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Exprealty
Added: Sep 6
Changed: Oct 25
Last Checked: Nov 1 at 11:19AM
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 NM Apartment Advisors, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is part of a community that includes storage units. The property has a stated size of 3,200, with no unit of measurement provided in the available information.
The asset is located at 1815 Girard Blvd SE in Albuquerque, New Mexico. The adjoining property at 1809 Girard SE, owned by the same owner, went under contract before this property entered the market.
The asset is located at 1815 Girard Blvd SE in Albuquerque, New Mexico. The adjoining property at 1809 Girard SE, owned by the same owner, went under contract before this property entered the market.
Key Highlights
- Multifamily property with a stated size of 3,200
- Community includes storage units
- Adjoining property at 1809 Girard SE went under contract
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,029
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,580
$540.6K
Cap Rate 7%
$386,129
$386.1K
Cap Rate 9%
$300,322
$300.3K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$51.8K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.1K $15.36/SF
− OpEx
−$22.1K −$6.91/SF
NOI
$27.0K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,580
Cap Rate 7%
$386,129
Cap Rate 9%
$300,322
Alternative Uses
Best Use
Apartment 5plus
$386.1K
$337.9K – $450.5K
NOI $27,029 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.1K
$677.4K – $903.2K
NOI $54,190 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset within a community that also includes storage units.
Where is this multifamily property located?
The property is located at 1815 Girard Blvd Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Multifamily property with a stated size of 3,200; Community includes storage units; Adjoining property at 1809 Girard SE went under contract
