Renovated NNN Commercial
For Sale
$345,000
217 Sierra Dr SE, Albuquerque, NM 87108
A long-term tenant occupies the building under an NNN lease with approximately four years remaining.
Property Size2,000 SF
Price / SF$172.50
Days on Market499
Property Features for 217 Sierra Dr SE
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
6
Property subtype
Office
Zoning
MX-T
Additional Details
Cap Rate
8.2%
Amenities
Power
Water
Sewer
Natural Gas
6 Parking Spaces
Building Details
Tenancy
Single
Listing Agency:
Hanna Commercial, LLC
Listed By:
Richard Hanna · License #9158
(505) 332-0522
Source:
Carnm.resimplifi
Added: Jun 5, 2025
Changed: Oct 3
Last Checked: Oct 16 at 5:42AM
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 Hanna Commercial, LLC
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Investment Insights
Based on property information with market context.
This fully renovated 2,000-square-foot commercial property is leased to a long-term tenant under a triple-net structure. Approximately four years remain on the current lease, with the arrangement placing limited operating responsibilities on ownership. The property is zoned MX-T.
Located in Albuquerque’s Nob Hill district, the building is positioned within a walkable urban area known for its eclectic character and established tenant demand. The property is at 217 Sierra Dr SE in Albuquerque, New Mexico.
Located in Albuquerque’s Nob Hill district, the building is positioned within a walkable urban area known for its eclectic character and established tenant demand. The property is at 217 Sierra Dr SE in Albuquerque, New Mexico.
Key Highlights
- Fully renovated 2,000 SF commercial property
- Long‑term tenant in place
- Approximately four years remaining on the NNN lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,568
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,360
$531.4K
Cap Rate 7%
$379,543
$379.5K
Cap Rate 9%
$295,200
$295.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$43.2K $21.60/SF
− Vacancy
−$7.8K −$3.89/SF
EGI
$35.4K $17.71/SF
− OpEx
−$8.9K −$4.43/SF
NOI
$26.6K $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 Rate 5%
$531,360
Cap Rate 7%
$379,543
Cap Rate 9%
$295,200
Alternative Uses
Best Use
Office B
$379.5K
$332.1K – $442.8K
NOI $26,568 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.8K
$423.4K – $564.5K
NOI $33,869 @ 7.0% cap · market cap 9.82%
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
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
NNN property - A long-term tenant occupies the building under an NNN lease with approximately four years remaining.
Where is this nnn property located?
The property is located at 217 Sierra Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Fully renovated 2,000 SF commercial property; Long‑term tenant in place; Approximately four years remaining on the NNN lease
