Multi-Suite Industrial Flex
For Sale
$3,330,000
2105 Aztec Rd, Albuquerque, NM 87107
Two block-constructed industrial buildings with multiple oversized grade-level overhead doors and up to 15-foot clear heights.
Property Size24,017 SF
Price / SF$138.65
Days on Market326
Property Features for 2105 Aztec Rd
General Information
Standard status
Active
Size
24,017 SF
Listing Agency:
Berkshire Hathaway NM Prop
Listed By:
Jacob E Lopez
Source:
Albuquerquehomefinders
Added: Oct 18, 2025
Changed: Sep 8
Last Checked: Sep 6 at 5:54AM
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 multi-suite industrial flex property includes two well-maintained block-constructed buildings totaling 24,017 SF. Each building is equipped with 3-phase power, multiple oversized grade-level overhead doors, and clear heights up to 15 feet. Suites are laid out with a practical mix of private offices, open work areas, restrooms, and breakrooms, supporting both administrative functions and light industrial activity.
The site is partially gated and includes small fenced yard areas for select suites, offering secure storage or laydown space. The property is positioned in a sought-after industrial corridor near the Big I interchange, just off Pan American Freeway and Aztec Road.
Overall, the configuration provides multiple separate suites within two buildings, with overhead door access and supportive office and restroom facilities already in place.
The site is partially gated and includes small fenced yard areas for select suites, offering secure storage or laydown space. The property is positioned in a sought-after industrial corridor near the Big I interchange, just off Pan American Freeway and Aztec Road.
Overall, the configuration provides multiple separate suites within two buildings, with overhead door access and supportive office and restroom facilities already in place.
Key Highlights
- Two block‑constructed industrial buildings totaling 24,017 SF, designed for multi‑suite use
- Each building includes 3‑phase electric power and multiple oversized grade‑level overhead doors
- Clear heights up to 15 feet, supporting light industrial operations and flexible warehouse use
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
$213,559
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
6.41%
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%
$4,271,180
$4.3M
Cap Rate 7%
$3,050,843
$3.1M
Cap Rate 9%
$2,372,878
$2.4M
Market Conditions
NOI Build-Up for 24,017 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
$345.8K $14.40/SF
− Vacancy
−$17.3K −$0.72/SF
EGI
$328.6K $13.68/SF
− OpEx
−$115.0K −$4.79/SF
NOI
$213.6K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$4,271,180
Cap Rate 7%
$3,050,843
Cap Rate 9%
$2,372,878
Alternative Uses
Best Use
Flex RnD
$3.05M
$2.67M – $3.56M
NOI $213,559 @ 7.0% cap · market cap 6.41%
Second Best
Warehouse
$2.35M
$2.06M – $2.74M
NOI $164,622 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$5.81M
$5.08M – $6.78M
NOI $406,713 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Two block-constructed industrial buildings with multiple oversized grade-level overhead doors and up to 15-foot clear heights.
Where is this flex space located?
The property is located at 2105 Aztec Rd Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,330,000.
What are key features of this property?
This property features: Two block‑constructed industrial buildings totaling 24,017 SF, designed for multi‑suite use; Each building includes 3‑phase electric power and multiple oversized grade‑level overhead doors; Clear heights up to 15 feet, supporting light industrial operations and flexible warehouse use
