Two-Tenant Office
For Sale
$1,323,245
2001 Mountain Rd NW, Albuquerque, NM 87104
Spanish-style stucco construction connects directly to the condominium parking garage and includes maintained common areas.
Property Size5,526 SF
Price / SF$239.46
Days on Market154
Property Features for 2001 Mountain Rd NW
General Information
Standard status
Active
Size
5,526 SF
Property subtype
Investment
Zoning
MX-M
Occupancy
100%
Additional Details
Office Units
2
Amenities
parking garage
common areas
Building Details
Year Built
1995
Buildings
1
Building Size
5,526 SF
Construction
Spanish-style stucco
Tenancy
Multi
Listing Agency:
RESOLUT RE
(505) 337-0777
Listed By:
Austin Tidwell · License ##49789AB
(505) 337-0777
Source:
Carnm.resimplifi
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 31 at 1:26PM
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 RESOLUT RE
Investment Insights
Based on property information with market context.
Building F is a 5,526-square-foot, two-tenant property within the Felipe Plaza condominium project. The leased configuration includes a 5,076-square-foot Albuquerque Veterans Center and a 450-square-foot Monarch Del Rey Barber Shop, with occupancy reported at 100%. The property is zoned MX-M and was built in 1995.
The building features Spanish-style stucco, decorative vigas, and access to the condominium parking garage. Common areas are maintained through the Felipe Plaza Condo Association, and Colliers International manages the property. Existing leases have short remaining terms and are scheduled to expire in 2027. The asset is situated in Old Town Albuquerque near the Sawmill District, Hotel Albuquerque, Hotel Chaco, and Sawmill Market.
The building features Spanish-style stucco, decorative vigas, and access to the condominium parking garage. Common areas are maintained through the Felipe Plaza Condo Association, and Colliers International manages the property. Existing leases have short remaining terms and are scheduled to expire in 2027. The asset is situated in Old Town Albuquerque near the Sawmill District, Hotel Albuquerque, Hotel Chaco, and Sawmill Market.
Key Highlights
- 5,526 SF building with two tenants and 100% leased occupancy
- Albuquerque Veterans Center occupies 5,076 SF
- Monarch Del Rey Barber Shop occupies 450 SF
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
$73,407
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
5.55%
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%
$1,468,140
$1.5M
Cap Rate 7%
$1,048,671
$1.0M
Cap Rate 9%
$815,633
$815.6K
Market Conditions
NOI Build-Up for 5,526 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
$119.4K $21.60/SF
− Vacancy
−$21.5K −$3.89/SF
EGI
$97.9K $17.71/SF
− OpEx
−$24.5K −$4.43/SF
NOI
$73.4K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,468,140
Cap Rate 7%
$1,048,671
Cap Rate 9%
$815,633
Alternative Uses
Best Use
Office B
$1.05M
$917.6K – $1.22M
NOI $73,407 @ 7.0% cap · market cap 5.55%
Second Best
Mixed Use
$959.2K
$839.3K – $1.12M
NOI $67,141 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,579 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 87104, NM
12,537
Population
6,628
Households
1.9
Avg Household Size
43
Median Age
48%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
2,985
Density / Sq Mi
$67,714
Median Household Income
$55,156
Median Earnings
$1,022
Median Rent
$300,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Spanish-style stucco construction connects directly to the condominium parking garage and includes maintained common areas.
Where is this office units located?
The property is located at 2001 Mountain Rd NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,323,245.
What are key features of this property?
This property features: 5,526 SF building with two tenants and 100% leased occupancy; Albuquerque Veterans Center occupies 5,076 SF; Monarch Del Rey Barber Shop occupies 450 SF
