Flex Suite with In-Place
For Sale
$535,788
1823 COMMERCIAL Street NE, Albuquerque, NM 87102
CommercialSale, Albuquerque, NM
Property Size4,961 SF
Lot Size2.31 Acres
Price / SF$108
Days on Market427
Property Features for 1823 COMMERCIAL Street NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NR-LM*
Parking
30
Security features
Security
Directions
Going West on Menaul Blvd, Turn South on Commercial, Property is on the souths side of i40 where Commercial Turns.
Subdivision
80 - Downtown Area
Standard status
Active
APN
101405942002640719
Lot size
2.31 Acres
Taxes and HOA fees
Tax Annual Amount
35358
Utilities
Heating system
Natural Gas
Building Details
Floors in Building
1
Building materials
Block, Stucco
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
Jacob E Lopez · License #50903
(505) 328-5156
Added: Aug 13, 2025
Changed: Aug 19
Last Checked: Oct 13 at 4:06PM
MLS# 1089574
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Suite D comprises 4,961 square feet within a 2.31-acre commercial property at 1823 Commercial Street NE in Albuquerque. The building uses block and stucco construction and is heated by natural gas, providing a straightforward physical platform for industrial or flex use.
The suite is occupied by a tenant through May 1, 2028, and the offering carries an 8% cap rate with NNN lease terms. Its existing occupancy and defined lease period provide a clear framework for evaluating the property as an income-producing flex asset or for future owner-user planning after the current term.
The suite is occupied by a tenant through May 1, 2028, and the offering carries an 8% cap rate with NNN lease terms. Its existing occupancy and defined lease period provide a clear framework for evaluating the property as an income-producing flex asset or for future owner-user planning after the current term.
Key Highlights
- 4,961 SF Suite D within a 2.31‑acre commercial property
- Tenant in place through May 1, 2028
- 8% Cap Rate with NNN lease terms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,113
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$882,260
$882.3K
Cap Rate 7%
$630,186
$630.2K
Cap Rate 9%
$490,144
$490.1K
Market Conditions
NOI Build-Up for 4,961 SF
Gross rent
$71.4K $14.40/SF
− Vacancy
−$3.6K −$0.72/SF
EGI
$67.9K $13.68/SF
− OpEx
−$23.8K −$4.79/SF
NOI
$44.1K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$882,260
Cap Rate 7%
$630,186
Cap Rate 9%
$490,144
Alternative Uses
Best Use
Flex RnD
$630.2K
$551.4K – $735.2K
NOI $44,113 @ 7.0% cap · market cap 8.23%
Second Best
Warehouse
$485.8K
$425.1K – $566.8K
NOI $34,005 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,012 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Southwest Savories Aviation Catering LLC — 616 Lomas Blvd NW Suite C, Albuquerque, NM 87102
- Albuquerque Commissary Kitchen — 1601 4th St NW, Albuquerque, NM 87102
- ABQ Ice Cream — 1601 4th St NW, Albuquerque, NM 87102
- High Mountain Cusine Catering — 1807 2nd St NW Studio 61, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Flex space - Block-and-stucco construction and natural-gas heating support a functional commercial suite in Albuquerque.
Where is this flex space located?
The property is located at 1823 COMMERCIAL Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,788.
What are key features of this property?
This property features: 4,961 SF Suite D within a 2.31‑acre commercial property; Tenant in place through May 1, 2028; 8% Cap Rate with NNN lease terms
