Two-Suite Flex
For Sale
$1,244,228
1823 Commercial St NE SUITE B, Albuquerque, NM 87102
Suite C is available for business use, while Suite B provides an income-producing component.
Property Size9,593 SF
Price / SF$129.70
Days on Market311
Property Features for 1823 Commercial St NE SUITE B
General Information
Standard status
Active
Size
9,593 SF
Property subtype
Industrial
Zoning
NR-LM
Additional Details
Cap Rate
9%
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Berkshire Hathaway NM Commercial Real Estate
(505) 235-8518
Listed By:
Christian File · License #51587
(505) 235-8518
Source:
Carnm.resimplifi
Added: Oct 24, 2025
Changed: Aug 30
Last Checked: Aug 26 at 12:18PM
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 Berkshire Hathaway NM Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 1823 Commercial St NE in Albuquerque, New Mexico, this flex property contains two suites. Suite B is an income-producing component, while Suite C is vacant and available for business use.
Suite C is currently associated with an eco-friendly concrete coating business that may be acquired separately. The property may suit trades, coatings, fabrication, or other flex-industrial operations seeking functional commercial space.
Suite C is currently associated with an eco-friendly concrete coating business that may be acquired separately. The property may suit trades, coatings, fabrication, or other flex-industrial operations seeking functional commercial space.
Key Highlights
- Two‑suite flex property at 1823 Commercial St NE, Suite B
- Suite B carries a 9.0% cap rate
- Suite C is vacant and available for business use
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
$85,301
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
6.86%
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%
$1,706,020
$1.7M
Cap Rate 7%
$1,218,586
$1.2M
Cap Rate 9%
$947,789
$947.8K
Market Conditions
NOI Build-Up for 9,593 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
$138.1K $14.40/SF
− Vacancy
−$6.9K −$0.72/SF
EGI
$131.2K $13.68/SF
− OpEx
−$45.9K −$4.79/SF
NOI
$85.3K $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 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%
$1,706,020
Cap Rate 7%
$1,218,586
Cap Rate 9%
$947,789
Alternative Uses
Best Use
Flex RnD
$1.22M
$1.07M – $1.42M
NOI $85,301 @ 7.0% cap · market cap 6.86%
Second Best
Industrial
$824.5K
$721.5K – $961.9K
NOI $57,716 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,452 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Suite C is available for business use, while Suite B provides an income-producing component.
Where is this flex space located?
The property is located at 1823 Commercial St NE SUITE B Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,244,228.
What are key features of this property?
This property features: Two‑suite flex property at 1823 Commercial St NE, Suite B; Suite B carries a 9.0% cap rate; Suite C is vacant and available for business use
