Versatile Retail Building
For Sale
Contact for pricing
2117 MENAUL BLVD NE, Albuquerque, NM 87107
Well-maintained 3,820 SF retail building constructed in 1965, zoned NR-LM for flexible use.
Property Size3,820 SF
Price / SF$183.24
Days on Market103
Property Features for 2117 MENAUL BLVD NE
General Information
Standard status
Active
Size
3,820 SF
Class
B
Property subtype
Retail
Zoning
NR-LM
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$54,864
Building Details
Year Built
1965
Year Renovated
2022
Units
2
Tenancy
Multi
Listing Agency:
SVN | Walt Arnold Commercial Brokerage, Inc.
Listed By:
Walt Arnold · License #NM 9117
(505) 256-7573
Source:
Crexi
Added: May 28
Changed: Sep 1
Last Checked: Sep 7 at 12:34PM
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 SVN | Walt Arnold Commercial Brokerage, Inc.
Investment Insights
Based on property information with market context.
This well-maintained retail building was constructed in 1965 and offers a total of 3,820 SF. The property is described as having flexible use options, supported by its NR-LM zoning designation.
The asset is located at 2117 MENAUL BLVD NE in Albuquerque, New Mexico. The current information highlights the building’s zoning flexibility as a key factor for retailers evaluating the location.
For buyers seeking a smaller-format retail asset, this property provides a straightforward retail footprint with NR-LM zoning intended to accommodate a range of retail uses.
The asset is located at 2117 MENAUL BLVD NE in Albuquerque, New Mexico. The current information highlights the building’s zoning flexibility as a key factor for retailers evaluating the location.
For buyers seeking a smaller-format retail asset, this property provides a straightforward retail footprint with NR-LM zoning intended to accommodate a range of retail uses.
Key Highlights
- Well‑maintained 3,820 SF retail building constructed in 1965
- Zoned NR‑LM, offering flexibility for various retail uses
- Retail investment property in Albuquerque
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
$54,911
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
7.84%
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%
$1,098,220
$1.1M
Cap Rate 7%
$784,443
$784.4K
Cap Rate 9%
$610,122
$610.1K
Market Conditions
NOI Build-Up for 3,820 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
$84.8K $22.20/SF
− Vacancy
−$6.4K −$1.67/SF
EGI
$78.4K $20.54/SF
− OpEx
−$23.5K −$6.16/SF
NOI
$54.9K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,098,220
Cap Rate 7%
$784,443
Cap Rate 9%
$610,122
Alternative Uses
Best Use
Retail
$784.4K
$686.4K – $915.2K
NOI $54,911 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.1K
$808.6K – $1.08M
NOI $64,689 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Hotels & Casinos 27%
Dining 16%
Home Improvements & Furnishings 5%
Maverik Adventures First Stop
Shops & Services
17,582 visits/mo
0.3 miles
Circle K
Shops & Services
11,531 visits/mo
0.2 miles
Applebee's
Dining
10,326 visits/mo
0.4 miles
Crowne Plaza Albuquerque
Hotels & Casinos
6,777 visits/mo
0.3 miles
Shell
Shops & Services
4,950 visits/mo
0.1 miles
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 Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Well-maintained 3,820 SF retail building constructed in 1965, zoned NR-LM for flexible use.
Where is this retail space located?
The property is located at 2117 MENAUL BLVD NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $699,995.
What are key features of this property?
This property features: Well‑maintained 3,820 SF retail building constructed in 1965; Zoned NR‑LM, offering flexibility for various retail uses; Retail investment property in Albuquerque
