Two-Tenant Industrial
For Sale
Contact for pricing
1920 Columbia Dr SE, Albuquerque, NM 87106
Two-tenant industrial building with concrete tilt-up construction, fully sprinklered protection, and 3-phase 480V electrical service.
Property Size17,865 SF
Price / SF$125
Days on Market139
Property Features for 1920 Columbia Dr SE
General Information
Standard status
Active
Size
17,865 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Truck Court Depth
40 ft
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Building Details
Construction
tilt-up concrete
Tenancy
Multi
Listing Agency:
NAI SunVista - Albuquerque
(505) 639-6433
Listed By:
Alexis Lovato · License #55026
(505) 639-6433
Source:
Moodyscre
Added: Mar 24
Changed: Jul 31
Last Checked: Aug 8 at 4:33AM
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 NAI SunVista - Albuquerque
Investment Insights
Based on property information with market context.
This two-tenant industrial facility is built for distribution, contractor services, logistics, and light manufacturing. The building features durable concrete tilt-up construction and is fully sprinklered. Electrical service includes 3-phase, 480V capacity to support a wide range of industrial uses. Designed for daily operations, the property includes an efficient truck court with approximately 40’ depth, supporting loading and circulation needs.
The property is located in Southeast Albuquerque with quick access to I-25 and major arteries, supporting convenient regional connectivity. Suites are separately metered, which can simplify tenant-level utility management.
With a practical two-tenant configuration, warehouse users or light manufacturers seeking flexible space often find this layout well-suited to operations that require reliable fire protection, capable power service, and functional truck-area circulation.
The property is located in Southeast Albuquerque with quick access to I-25 and major arteries, supporting convenient regional connectivity. Suites are separately metered, which can simplify tenant-level utility management.
With a practical two-tenant configuration, warehouse users or light manufacturers seeking flexible space often find this layout well-suited to operations that require reliable fire protection, capable power service, and functional truck-area circulation.
Key Highlights
- Concrete tilt‑up two‑tenant industrial facility built for distribution and light manufacturing
- Fully sprinklered fire protection
- 3‑phase, 480V electrical service
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
$122,454
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
5.48%
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%
$2,449,080
$2.4M
Cap Rate 7%
$1,749,343
$1.7M
Cap Rate 9%
$1,360,600
$1.4M
Market Conditions
NOI Build-Up for 17,865 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
$150.1K $8.40/SF
− Vacancy
−$6.0K −$0.34/SF
EGI
$144.1K $8.06/SF
− OpEx
−$21.6K −$1.21/SF
NOI
$122.5K $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 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%
$2,449,080
Cap Rate 7%
$1,749,343
Cap Rate 9%
$1,360,600
Alternative Uses
Best Use
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,454 @ 7.0% cap · market cap 5.48%
Second Best
Industrial
$1.54M
$1.34M – $1.79M
NOI $107,485 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$4.32M
$3.78M – $5.04M
NOI $302,533 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Two-tenant industrial building with concrete tilt-up construction, fully sprinklered protection, and 3-phase 480V electrical service.
Where is this distribution center located?
The property is located at 1920 Columbia Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,233,125.
What are key features of this property?
This property features: Concrete tilt‑up two‑tenant industrial facility built for distribution and light manufacturing; Fully sprinklered fire protection; 3‑phase, 480V electrical service
