Flex Space with Fenced
For Sale
Contact for pricing
2227 Commercial St. NE, Albuquerque, NM 87102
Office and warehouse improvements with a dock-high loading door and secured outdoor storage area.
Property Size6,625 SF
Lot Size0.35 Acres
Price / SF$97.96
Days on Market10
Property Features for 2227 Commercial St. NE
General Information
Standard status
Active
Size
6,625 SF
Lot size
0.35 Acres
Property subtype
Office, Industrial
Zoning
MX-M, CPO-7
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Dock-High Doors
1
Amenities
dock-high door
concrete-paved fully-fenced yard
Building Details
Year Built
1987
Buildings
1
Building Size
6,625 SF
Listing Agency:
NAI Sun Vista
Listed By:
Riley McKee · License #NM 50021AB
(505) 998-1656
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 9:52AM
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 NAI Sun Vista
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.
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 = 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
$58,910
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
9.08%
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%
$1,178,200
$1.2M
Cap Rate 7%
$841,571
$841.6K
Cap Rate 9%
$654,556
$654.6K
Market Conditions
NOI Build-Up for 6,625 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
$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 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%
$1,178,200
Cap Rate 7%
$841,571
Cap Rate 9%
$654,556
Alternative Uses
Best Use
Flex RnD
$841.6K
$736.4K – $981.8K
NOI $58,910 @ 7.0% cap · market cap 9.08%
Second Best
Warehouse
$648.7K
$567.6K – $756.8K
NOI $45,410 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,190 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
