Building Details

Year Built 1987

Buildings 1

Building Size 6,625 SF

Listing Agency: NAI Sun Vista

Listed By: Riley McKee · License #NM 50021AB Show Phone

Source: Crexi

Added: Aug 27 Changed: Oct 14 Last Checked: Oct 20 at 8:27PM

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Investment Insights

Based on property information with market context.

This flex property combines office and warehouse functionality within a ±6,625 SF building constructed in 1987. A dock-high door supports loading operations, while the site includes a concrete-paved, fully fenced yard across approximately ±0.35 acres.

The property is positioned in Albuquerque at the northwest quadrant of I-40 and Broadway Blvd. NE, with access to I-40 via 6th St. Zoning is designated MX-M and CPO-7, providing the applicable land-use framework for the site.

Key Highlights

• ±6,625 SF office/warehouse building
• ±0.35‑acre site with concrete‑paved, fully fenced yard
• Dock‑high loading door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,910

Cap Rate

9.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,178,200 $1.2M

Cap Rate 7%

$841,571 $841.6K

Cap Rate 9%

$654,556 $654.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,625 SF

Gross rent

$95.4K $14.40/SF

− Vacancy

−$4.8K −$0.72/SF

EGI

$90.6K $13.68/SF

− OpEx

−$31.7K −$4.79/SF

NOI

$58.9K $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 Rate 5%

$1,178,200

Cap Rate 7%

$841,571

Cap Rate 9%

$654,556

Alternative Uses

Best Use

Flex RnD

$841.6K

$736.4K – $981.8K (±1% cap)

NOI $58,910 @ 7.0% cap · market cap 9.08%

Second Best

Warehouse

$648.7K

$567.6K – $756.8K (±1% cap)

NOI $45,410 @ 7.0% cap · market cap 7.00%

Theoretical Best

Office A

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,190 @ 7.0% cap · market cap 17.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Conveyors & Equipment Factory

Suggested Use

Top Pick Real Estate Agency Dental Office Locksmith Veterinary Clinic Computer & Electronic Repair Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Dock-high doors

Yes

Fenced yard

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

848

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 87102, NM

20,610

Population

11,346

Households

1.8

Avg Household Size

38

Median Age

34%

College-Educated

83%

High-School Grad

6.5 sq mi

ZIP Area

3,171

Density / Sq Mi

$37,276

Median Household Income

$29,184

Median Earnings

$868

Median Rent

$174,400

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse improvements with a dock-high loading door and secured outdoor storage area.

Where is this flex space located?

The property is located at 2227 Commercial St. NE Albuquerque, NM.

What is the asking price?

The asking price for this property is $649,000.

What are key features of this property?

This property features: ±6,625 SF office/warehouse building; ±0.35‑acre site with concrete‑paved, fully fenced yard; Dock‑high loading door