Flex Space with Fenced
For Sale
$440,000
2420 Midtown Place NE, Albuquerque, NM 87109
Commercial Sale, Albuquerque, NM
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$183.33
Days on Market129
Property Features for 2420 Midtown Place NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ABQ City
Parking
2
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
Additional Details
Property Use
Office/Warehouse
Taxes and HOA fees
Tax Description
Unit E Bldg 3 Interstate Commerce Center Condominium Together With An Equal Undivided Interest In The Common Elements
Tax Annual Amount
4177
Legal Description
Unit E Bldg 3 Interstate Commerce Center Condominium Together With An Equal Undivided Interest In The Common Elements
Building Details
Floors in Building
1
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: Oct 30
Last Checked: Nov 3 at 12:06AM
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.
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Investment Insights
Based on property information with market context.
This flex condominium at 2420 Midtown Place NE, Suite E, contains approximately 2,400 SF, divided between about 200 SF of finished office area and 2,200 SF of warehouse space. The office includes a reception area, private office, and restroom. Warehouse features include a 10' x 12' grade-level overhead door, refrigerated air, and a fenced yard for outdoor storage.
The property is west of I-25 in Albuquerque, with Midtown dining, retail, and Topgolf nearby. Zoning is NR-GM.
The property is west of I-25 in Albuquerque, with Midtown dining, retail, and Topgolf nearby. Zoning is NR-GM.
Key Highlights
- Approximately 2,400 SF of office and warehouse condominium space
- About 200 SF of finished office area and 2,200 SF of warehouse space
- Office includes reception area, private office, and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,341
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,820
$426.8K
Cap Rate 7%
$304,871
$304.9K
Cap Rate 9%
$237,122
$237.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$34.6K $14.40/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$32.8K $13.68/SF
− OpEx
−$11.5K −$4.79/SF
NOI
$21.3K $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%
$426,820
Cap Rate 7%
$304,871
Cap Rate 9%
$237,122
Alternative Uses
Best Use
Flex RnD
$304.9K
$266.8K – $355.7K
NOI $21,341 @ 7.0% cap · market cap 4.85%
Second Best
Warehouse
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 3.74%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Gourmet To Go Catering — 4003 Carlisle Blvd NE, Albuquerque, NM 87107
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas include refrigerated air and a private outdoor storage area.
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 office and warehouse condominium space; About 200 SF of finished office area and 2,200 SF of warehouse space; Office includes reception area, private office, and restroom
