Two-Building Warehouse Investment
For Sale
$1,221,000
2024 5th St NW, Albuquerque, NM 87102
Two-building property offered for sale, fully leased, providing an ownership structure supported by in-place tenant occupancy.
Property Size16,289 SF
Price / SF$74.96
Days on Market124
Property Features for 2024 5th St NW
General Information
Standard status
Active
Size
16,289 SF
Property subtype
Industrial
Zoning
NR-LM
Occupancy
100%
Site & Location
Neighborhood
Wpk
Listing Agency:
Johnson Commercial Real Estate
Listed By:
Mark Friedman
(505) 831-3333
Source:
Carnm.resimplifi
Added: Jun 23
Changed: Oct 11
Last Checked: Oct 24 at 1:40PM
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 Johnson Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-building commercial property is offered for sale and is reported as 100% leased. The offering includes a mix of warehouse and retail space, providing an operator with multiple building components under one ownership structure.
The buildings are located at 2024 5th Street Northwest in Albuquerque, New Mexico. The property’s address-based location supports day-to-day access for occupants and visitors, while the two-building layout allows the spaces to be managed as a combined investment.
For buyers seeking a leased, multi-building setup, this property can fit hands-on investors or owner-operators who want to acquire warehouse and retail space with current occupancy already in place. Because the information provided confirms full leasing status and identifies the asset mix as warehouse and retail, prospective purchasers can evaluate how the existing tenancy aligns with their operating, leasing, or property management approach.
The buildings are located at 2024 5th Street Northwest in Albuquerque, New Mexico. The property’s address-based location supports day-to-day access for occupants and visitors, while the two-building layout allows the spaces to be managed as a combined investment.
For buyers seeking a leased, multi-building setup, this property can fit hands-on investors or owner-operators who want to acquire warehouse and retail space with current occupancy already in place. Because the information provided confirms full leasing status and identifies the asset mix as warehouse and retail, prospective purchasers can evaluate how the existing tenancy aligns with their operating, leasing, or property management approach.
Key Highlights
- Two‑building investment property for sale
- 100% leased with in‑place tenant occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,651
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,233,020
$2.2M
Cap Rate 7%
$1,595,014
$1.6M
Cap Rate 9%
$1,240,567
$1.2M
Market Conditions
NOI Build-Up for 16,289 SF
Gross rent
$136.8K $8.40/SF
− Vacancy
−$5.5K −$0.34/SF
EGI
$131.4K $8.06/SF
− OpEx
−$19.7K −$1.21/SF
NOI
$111.7K $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%
$2,233,020
Cap Rate 7%
$1,595,014
Cap Rate 9%
$1,240,567
Alternative Uses
Best Use
Warehouse
$1.60M
$1.40M – $1.86M
NOI $111,651 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $275,844 @ 7.0% cap · market cap 22.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
965
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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- Self-Storage at U-Haul — 2217 4th St NW, Albuquerque, NM 87102
- Self-Storage at U-Haul — 2201 6th St NW, Albuquerque, NM 87102
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building property offered for sale, fully leased, providing an ownership structure supported by in-place tenant occupancy.
Where is this warehouse located?
The property is located at 2024 5th St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,221,000.
What are key features of this property?
This property features: Two‑building investment property for sale; 100% leased with in‑place tenant occupancy
