Triplex with Private
New
For Sale
$345,000
2215 Hooper Rd, Albuquerque, NM 87105
Three distinct floor plans accommodate separate residential units.
Property Size2,483 SF
Price / SF$138.94
Days on Market7
Property Features for 2215 Hooper Rd
General Information
Standard status
Active
Size
2,483 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Building Details
Year Built
1946
Listing Agency:
The Sanchez Group Realty
Listed By:
Brandon Sanchez · License #20197
(505) 720-4332
Source:
Albuquerquehomefinders
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 3:17PM
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 The Sanchez Group Realty
Investment Insights
Based on property information with market context.
This Albuquerque triplex contains three units, each with its own entrance. The individual living areas measure 515, 620, and 1,250 square feet, offering varied layouts within one residential property.
Built in 1946, the property is located at 2215 Hooper Rd in Albuquerque’s South Valley.
Built in 1946, the property is located at 2215 Hooper Rd in Albuquerque’s South Valley.
Key Highlights
- Three residential units, each with a private entrance
- Unit sizes: 515, 620, and 1,250 square feet
- Built in 1946
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
$22,506
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
6.52%
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%
$450,120
$450.1K
Cap Rate 7%
$321,514
$321.5K
Cap Rate 9%
$250,067
$250.1K
Market Conditions
NOI Build-Up for 2,483 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
$34.3K $13.80/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$32.2K $12.95/SF
− OpEx
−$9.6K −$3.88/SF
NOI
$22.5K $9.06/SF
Area
ZIP 87105
Vacancy
6.17%
Lease Rate
$13.80 /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%
$450,120
Cap Rate 7%
$321,514
Cap Rate 9%
$250,067
Alternative Uses
Best Use
Multifamily LT 5
$321.5K
$281.3K – $375.1K
NOI $22,506 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.8K
NOI $20,686 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$541.8K
$474.1K – $632.1K
NOI $37,924 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
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 Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct floor plans accommodate separate residential units.
Where is this triplex located?
The property is located at 2215 Hooper Rd 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: Three residential units, each with a private entrance; Unit sizes: 515, 620, and 1,250 square feet; Built in 1946
