New Construction Apartment
For Sale
$5,000,000
19 Walker Rd, Edgewood, NM 87015
Under-construction condominium community with a diversified unit mix and access to shopping, dining, and I-40.
Property Size16,000 SF
Price / SF$312.50
Days on Market96
Property Features for 19 Walker Rd
General Information
Standard status
Active
Size
16,000 SF
Units
Unit Mix
4 x 3BR, 7 x 2BR, 4 x 1BR
Multifamily Units
15
Additional Details
Highway Access
Yes
Listing Agency:
Berkshire Hathaway NM Prop
Listed By:
Thomas Gallegos · License #45240
(505) 261-8687
Source:
Myabqhomesearch
Added: Jul 10
Changed: Oct 1
Last Checked: Oct 12 at 8:26PM
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 Prop
Investment Insights
Based on property information with market context.
This under-construction condominium community will deliver 15 residences in a range of floor plans. The planned mix includes four three-bedroom units, seven two-bedroom units, and four one-bedroom units, creating a varied apartment offering within a new development. The property size is 16,000 square feet.
Located in Edgewood, New Mexico, the community offers access to local shopping, dining, and I-40. The development is positioned within the East Mountain community and is designed around modern residential living.
Located in Edgewood, New Mexico, the community offers access to local shopping, dining, and I-40. The development is positioned within the East Mountain community and is designed around modern residential living.
Key Highlights
- 15‑unit condominium community under construction
- Unit mix includes 4 three‑bedroom, 7 two‑bedroom, and 4 one‑bedroom residences
- 16,000‑square‑foot property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$219,528
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,390,560
$4.4M
Cap Rate 7%
$3,136,114
$3.1M
Cap Rate 9%
$2,439,200
$2.4M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$416.6K $26.04/SF
− Vacancy
−$17.5K −$1.09/SF
EGI
$399.1K $24.95/SF
− OpEx
−$179.6K −$11.23/SF
NOI
$219.5K $13.72/SF
Area
Santa Fe County, NM
Vacancy
4.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,390,560
Cap Rate 7%
$3,136,114
Cap Rate 9%
$2,439,200
Alternative Uses
Best Use
Apartment 5plus
$3.14M
$2.74M – $3.66M
NOI $219,528 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $304,128 @ 7.0% cap · market cap 6.08%
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
15
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 87015, NM
12,833
Population
6,593
Households
1.9
Avg Household Size
47
Median Age
34%
College-Educated
93%
High-School Grad
131.6 sq mi
ZIP Area
98
Density / Sq Mi
$72,681
Median Household Income
$48,270
Median Earnings
$891
Median Rent
$263,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Under-construction condominium community with a diversified unit mix and access to shopping, dining, and I-40.
Where is this apartment building located?
The property is located at 19 Walker Rd Edgewood, NM.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 15‑unit condominium community under construction; Unit mix includes 4 three‑bedroom, 7 two‑bedroom, and 4 one‑bedroom residences; 16,000‑square‑foot property
