Industrial Warehouse with Loading
For Sale
$545,710
1823 Commercial St NE Suite D, Albuquerque, NM 87102
Food-storage-approved facility with an NNN lease, office component, and direct access to loading infrastructure.
Property Size4,961 SF
Price / SF$110
Days on Market220
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Property Features for 1823 Commercial St NE Suite D
General Information
Standard status
Active
Size
4,961 SF
Property subtype
Investment
Zoning
NR-LM
Financials
Cap Rate
8.19%
Gross Income
$44,700
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
4,461 SF
Office Build-Out
500 SF
Dock-High Doors
1
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Listing Agency:
Berkshire Hathaway NM Commercial Real Estate
Listed By:
Christian File
(505) 235-8518
Source:
Carnm.resimplifi
Added: Mar 10
Changed: Oct 14
Last Checked: Oct 14 at 7:47PM
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.
This industrial warehouse totals approximately 4,961 SF, including about 4,461 SF of warehouse area and 500 SF of office space. The facility includes epoxy-sealed warehouse floors, an 18-foot ceiling, a loading dock, and a 12-foot roll-up door. Three-phase electrical capacity supports the building’s industrial configuration, and the property is approved for food storage and distribution.
The existing NNN lease has more than 3.5 years remaining, with a stated expiration of May 1, 2028, renewal provisions, and 3% annual increases. The current cap rate is 8.193%. The property is located at 1823 Commercial St NE, Suite D, in Albuquerque, less than one mile from the I-25 and I-40 interchange. Zoning is NR-LM.
The existing NNN lease has more than 3.5 years remaining, with a stated expiration of May 1, 2028, renewal provisions, and 3% annual increases. The current cap rate is 8.193%. The property is located at 1823 Commercial St NE, Suite D, in Albuquerque, less than one mile from the I-25 and I-40 interchange. Zoning is NR-LM.
Key Highlights
- 4,461+/- SF warehouse plus 500+/- SF of office space
- 8.193% current cap rate with an existing NNN lease
- Lease runs through May 1st, 2028, with renewals and 3% annual increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,005
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,100
$680.1K
Cap Rate 7%
$485,786
$485.8K
Cap Rate 9%
$377,833
$377.8K
Market Conditions
NOI Build-Up for 4,961 SF
Gross rent
$41.7K $8.40/SF
− Vacancy
−$1.7K −$0.34/SF
EGI
$40.0K $8.06/SF
− OpEx
−$6.0K −$1.21/SF
NOI
$34.0K $6.85/SF
Area
Albuquerque, NM
Vacancy
4.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,100
Cap Rate 7%
$485,786
Cap Rate 9%
$377,833
Alternative Uses
Best Use
Warehouse
$485.8K
$425.1K – $566.8K
NOI $34,005 @ 7.0% cap · market cap 6.23%
Second Best
Industrial
$426.4K
$373.1K – $497.5K
NOI $29,848 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,012 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
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- Global Storage UNM — 1501 University Blvd NE, Albuquerque, NM 87102
- Extra Space Storage — 1901 8th St NW, Albuquerque, NM 87102
Frequently Asked Questions
What type of property is this?
Warehouse - Food-storage-approved facility with an NNN lease, office component, and direct access to loading infrastructure.
Where is this warehouse located?
The property is located at 1823 Commercial St NE Suite D Albuquerque, NM.
What is the asking price?
The asking price for this property is $545,710.
What are key features of this property?
This property features: 4,461+/- SF warehouse plus 500+/- SF of office space; 8.193% current cap rate with an existing NNN lease; Lease runs through May 1st, 2028, with renewals and 3% annual increases
