Flex Space with Loading
For Sale
$755,767
1823 Commercial St NE Suite C, Albuquerque, NM 87102
M-1 zoning, substantial electrical capacity, and adaptable industrial improvements support a range of commercial operations.
Property Size5,827 SF
Price / SF$129.70
Days on Market174
Property Features for 1823 Commercial St NE Suite C
General Information
Standard status
Active
Size
5,827 SF
Property subtype
Industrial
Zoning
M-1 Light Industrial Zone
Warehouse & Industrial
Clear Height
16 ft
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Berkshire Hathaway NM Commercial Real Estate
(505) 235-8518
Listed By:
Christian File
(505) 235-8518
Source:
Carnm.resimplifi
Added: Mar 10
Changed: Aug 30
Last Checked: Aug 30 at 3:21AM
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.
Suite C contains approximately 5,827 square feet within a flex-oriented industrial property at 1823 Commercial St NE. The space is currently improved for a concrete coating operation and is expected to be vacant at closing, creating owner-occupancy or leasing flexibility. Improvements include 16-foot clear height, 3-phase 480-volt electrical service, dock-high loading, and box-truck access.
The property includes a shared 26,114-square-foot yard and parking area, along with functional loading space. Its Albuquerque location provides access to I-25, I-40, and the North I-25 industrial submarket. Zoning is identified as M-1 Light Industrial Zone, with industrial and commercial flex applications subject to city verification. The existing concrete coating business may also be acquired separately from the real estate.
The property includes a shared 26,114-square-foot yard and parking area, along with functional loading space. Its Albuquerque location provides access to I-25, I-40, and the North I-25 industrial submarket. Zoning is identified as M-1 Light Industrial Zone, with industrial and commercial flex applications subject to city verification. The existing concrete coating business may also be acquired separately from the real estate.
Key Highlights
- Approximately 5,827 SF Suite C available vacant at closing or for owner occupancy
- Shared 26,114 SF yard and parking area
- 16' clear ceiling height
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
$51,814
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%
$1,036,280
$1.0M
Cap Rate 7%
$740,200
$740.2K
Cap Rate 9%
$575,711
$575.7K
Market Conditions
NOI Build-Up for 5,827 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
$83.9K $14.40/SF
− Vacancy
−$4.2K −$0.72/SF
EGI
$79.7K $13.68/SF
− OpEx
−$27.9K −$4.79/SF
NOI
$51.8K $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%
$1,036,280
Cap Rate 7%
$740,200
Cap Rate 9%
$575,711
Alternative Uses
Best Use
Flex RnD
$740.2K
$647.7K – $863.6K
NOI $51,814 @ 7.0% cap · market cap 6.86%
Second Best
Industrial
$500.8K
$438.2K – $584.3K
NOI $35,058 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,677 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
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
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- 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 - M-1 zoning, substantial electrical capacity, and adaptable industrial improvements support a range of commercial operations.
Where is this flex space located?
The property is located at 1823 Commercial St NE Suite C Albuquerque, NM.
What is the asking price?
The asking price for this property is $755,767.
What are key features of this property?
This property features: Approximately 5,827 SF Suite C available vacant at closing or for owner occupancy; Shared 26,114 SF yard and parking area; 16' clear ceiling height
