Listing Agency: Berkshire Hathaway NM Commercial Real Estate

Listed By: Christian File Show Phone

Source: Carnm.resimplifi

Added: Oct 24, 2025 Changed: Oct 14 Last Checked: Oct 12 at 4:50PM

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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.

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 / Yr

$85,301

Cap Rate

6.86%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $85,301 @ 7.0% cap · market cap 6.86%

Second Best

Industrial

$824.5K

$721.5K – $961.9K (±1% cap)

NOI $57,716 @ 7.0% cap · market cap 4.64%

Theoretical Best

Office A

$2.32M

$2.03M – $2.71M (±1% cap)

NOI $162,452 @ 7.0% cap · market cap 13.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Standard Restaurant Supply Factory APA Specialties LLC Construction Company Albuquerque Partitions & Accessories Kitchen & Bath Showroom

Suggested Use

Top Pick Real Estate Agency Dental Office Pharmacy Hair Salon Food Market Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

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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