Multi-Suite Flex
For Sale
$3,330,000
2105 Aztec Road NE, Albuquerque, NM 87107
CommercialSale, Albuquerque, NM
Property Size24,017 SF
Lot Size1.20 Acres
Price / SF$138.65
Days on Market286
Property Features for 2105 Aztec Road NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NR-LM*
Parking
30
Security features
Security
Fencing
Fenced
Directions
Going West on Comanche Rd NE, Turn South on Princeton Dr NE, Turn West on Aztec Rd NE, Property is on the Northside of the Street.
Subdivision
41 - Uptown
Standard status
Active
APN
101606000714830702
Lot size
1.20 Acres
Taxes and HOA fees
Tax Annual Amount
16937
Utilities
Heating system
Natural Gas
Amenities
private offices
open work areas
restrooms
break rooms
partially gated
fenced yard areas
Building Details
Floors in Building
1
Building materials
Block
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
Jacob E Lopez · License #50903
(505) 328-5156
Added: Dec 2, 2025
Changed: Aug 19
Last Checked: Sep 14 at 5:06AM
MLS# 1095205
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes two block-constructed buildings totaling 24,017 square feet on 1.2 acres. The multi-suite layout combines private offices, open work areas, restrooms, and breakrooms with features suited to light industrial operations. Three-phase power, oversized grade-level overhead doors, and clear heights reaching 15 feet support a range of commercial functions. Select suites also have small fenced yard areas, while portions of the site are gated.
The property is located near Albuquerque’s Big I interchange, just off Pan American Freeway and Aztec Road. Its configuration brings office and industrial components together across separate suites, with additional exterior areas available for secure storage or laydown use where fenced sections are provided.
The property is located near Albuquerque’s Big I interchange, just off Pan American Freeway and Aztec Road. Its configuration brings office and industrial components together across separate suites, with additional exterior areas available for secure storage or laydown use where fenced sections are provided.
Key Highlights
- Two block‑constructed buildings totaling 24,017 SF
- 1.2‑acre site near the Big I interchange
- 3‑phase power serving both buildings
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
Office B
$4.56M
$3.99M – $5.32M
NOI $319,042 @ 7.0% cap · market cap 9.58%
Second Best
Flex RnD
$3.05M
$2.67M – $3.56M
NOI $213,559 @ 7.0% cap · market cap 6.41%
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
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Open Analytics
Current Use
Lease Details
15 ft
Clear height
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Block-built flex space combines office areas with light industrial functionality and fenced yard sections.
Where is this flex space located?
The property is located at 2105 Aztec Road NE 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 buildings totaling 24,017 SF; 1.2‑acre site near the Big I interchange; 3‑phase power serving both buildings
