Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Rio Rancho Office Space Title is generated by Realmo AI

    2351 HP Way, Rio Rancho, NM 87144

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office building with 129,237 square feet available for rent.

    Type:Office
    Property size:
    129,237 SF
    Added:
    Nov 22, 2025
    Days on Market:
    187
    Last Refresh:
    May 19 at 11:38 pm

    Property Features for 2351 HP Way

    General Information

    Standard status
    Active
    Size
    129,237 SF
    Property subtype
    Office

    Spaces For Lease

    at 2351 HP Way Contact us

    We can help!

    Listing Contact
    Jason Lott
    Jason Lott

    Listing agent Jason Lott

    Listing office CBRE | Albuquerque

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Albuquerque

    HighLights

    • 129,237 square feet of office space available
    • Office building

    Overview

    This office building in Rio Rancho, New Mexico, offers 129,237 square feet of space available for rent. The property is suitable for office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rio Rancho
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.713
    Latitude
    35.2818

    Nearby Similar for Lease

    • $22 SF/Yr
      2,908 SF

      Rio Rancho Office Space Available

      Office suites available in Rio Rancho with prime access.
      2600 The American Road Southeast, Rio Rancho, NM, 87124
      View Details
    • $38 SF/Yr
      1,500 SF

      Retail/Office/Restaurant Space Available

      Shell space ideal for retail, restaurant, office, or medical uses.
      1141 Commercial Dr SE, Rio Rancho, NM
      View Details
    • Contact for pricing
      38,860 SF

      Rio Rancho Warehouse Space Available

      Functional warehouse space with heavy power and expansion potential.
      451 Quantum Road Northeast, Rio Rancho, NM, 87124
      View Details
    • Contact for pricing
      48,864 SF

      Rio Rancho Manufacturing/Distribution Opportunity

      Functional industrial building near Highway 528, ideal for manufacturing/distribution.
      590 Laser Road Northeast, Rio Rancho, NM, 87124
      View Details
    • Contact for pricing
      95,070 SF

      Industrial Space with Heavy Power

      Manufacturing/distribution property with heavy power and high ceilings.
      510 Laser Road Northeast, Rio Rancho, NM, 87124
      View Details
    • Contact for pricing
      2,100 SF

      Rio Rancho Retail Space

      Retail space available for lease in Rio Rancho, NM.
      1350 Jackie Rd SE, Ste 105, Rio Rancho, NM 87124
      View Details
    • $24 SF/Yr
      1,496 SF

      Renovated Retail/Office Space Available

      Modern, renovated retail or office space with high-visibility signage.
      2418 Southern Blvd SE, Rio Rancho, NM
      View Details
    • $22 SF/Yr
      1,140 SF

      Retail Space Near Albertsons

      Retail space available for lease, adjacent to Albertsons.
      4300 Ridgecrest Dr SE, Rio Rancho, NM
      View Details
    • $1,500/Mo
      1,204 SF

      Rio Rancho Industrial Space Available

      Industrial spaces for lease with versatile business potential.
      1542 Stephanie Rd SE, Rio Rancho, NM
      View Details
    • $30 SF/Yr
      1,440 SF

      Retail Space Near Walmart

      Retail space with high visibility near a busy intersection.
      1101 Rio Rancho Dr SE, Rio Rancho, NM
      View Details
    • $16 SF/Yr
      3,722 SF

      Medical Office Space Available

      3,722 SF medical office in Rio Rancho, NM.
      111 NM-528, Rio Rancho, NM
      View Details
    • $11 SF/Yr
      15,000 SF

      Bernalillo Flex Space For Lease

      Flex space available for lease with highway access.
      1080 Exchange, Bernalillo, NM
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with 129,237 square feet available for rent.
    Where is this office building located?
    The property is located at 2351 HP Way Rio Rancho, NM.
    What are key features of this property?
    This property features: 129,237 square feet of office space available; Office building
    (505) 837-4910
    We can help!
    Listing Contact
    Jason Lott
    Jason Lott
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2351 HP Way, Rio Rancho, NM, 87144
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!