Flex Space with Fenced
For Sale
$440,000
2420 Midtown Place NE, Albuquerque, NM 87109
CommercialSale, Albuquerque, NM
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$183.33
Days on Market102
Property Features for 2420 Midtown Place NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NR-GM*
Parking
2
Parking features
Guest
Directions
From the intersection of Montano and I-25, take Pan American Frwy frontage road (on the west side of I-25) south to Midtown Rd, turn west or right then turn right or north to Midtown Pl and continue straight to building 2420.. Sign on the door: Training Innovations Suite E
Subdivision
101 - Near North Valley
Standard status
Active
APN
101606016050021001AS
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4177
Utilities
Heating system
Natural Gas
Amenities
private fenced yard
refrigerated air
Building Details
Floors in Building
1
Building materials
Stucco
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(505) 292-8900
Listed By:
Nichole M. Bronstorp · License #REC20240538
(505) 209-1246
Added: Jun 28
Changed: Sep 30
Last Checked: Oct 7 at 12:06PM
MLS# 1106889
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Suite E is a 2,400 SF flex condominium combining approximately 200 SF of finished office area with approximately 2,200 SF of warehouse space. The office component includes reception, a private office, and a restroom. Warehouse access is provided by a 10' x 12' grade-level overhead door, while a private fenced yard offers outdoor storage space. Refrigerated air, stucco construction, natural gas heating, and guest parking are also included.
The property is located just west of I-25 in Albuquerque, with access to Topgolf, dining, retail, and other Midtown amenities. NR-GM zoning supports office, industrial, contractor, technology, and service-related uses.
The property is located just west of I-25 in Albuquerque, with access to Topgolf, dining, retail, and other Midtown amenities. NR-GM zoning supports office, industrial, contractor, technology, and service-related uses.
Key Highlights
- Approximately 2,400 SF of flex condominium space
- Approximately 200 SF of finished office area with reception, private office, and restroom
- Approximately 2,200 SF of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,882
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,640
$637.6K
Cap Rate 7%
$455,457
$455.5K
Cap Rate 9%
$354,244
$354.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$51.8K $21.60/SF
− Vacancy
−$9.3K −$3.89/SF
EGI
$42.5K $17.71/SF
− OpEx
−$10.6K −$4.43/SF
NOI
$31.9K $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%
$637,640
Cap Rate 7%
$455,457
Cap Rate 9%
$354,244
Alternative Uses
Best Use
Office B
$455.5K
$398.5K – $531.4K
NOI $31,882 @ 7.0% cap · market cap 7.25%
Second Best
Flex RnD
$304.9K
$266.8K – $355.7K
NOI $21,341 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$580.6K
$508.0K – $677.4K
NOI $40,643 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 87109, NM
40,740
Population
20,826
Households
2
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
4,074
Density / Sq Mi
$56,295
Median Household Income
$41,798
Median Earnings
$1,112
Median Rent
$298,300
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 Office in West region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse condominium with refrigerated air, grade-level loading, and NR-GM zoning.
Where is this flex space located?
The property is located at 2420 Midtown Place NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Approximately 2,400 SF of flex condominium space; Approximately 200 SF of finished office area with reception, private office, and restroom; Approximately 2,200 SF of warehouse space
