Freestanding Advance Auto Parts For
For Sale
$2,634,076
2807 San Mateo Blvd NE, Albuquerque, NM 87110
Single tenant, absolute NNN lease in Albuquerque MSA.
Property Size6,912 SF
Days on Market158
Property Features for 2807 San Mateo Blvd NE
General Information
Standard status
Active
Size
6,912 SF
Property subtype
Retail
Building Details
Building Size
6,912 SF
Year Built
2016
Listing Agency:
Legacy Real Estate Advisors
(248) 450-3259
Listed By:
Dominic Shamany · License #MI #6506047766
Source:
Legacycrea
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:19AM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This single-tenant, free-standing property is leased to Advance Auto Parts under an absolute NNN lease structure, meaning zero landlord responsibilities. Located within the Albuquerque MSA, ranked #61, this essential retailer demonstrates pandemic and recession-resistant tenancy. The site benefits from high traffic counts, with over 36,000 vehicles passing daily on San Mateo Blvd NE. The surrounding area is affluent, with 122,765 residents within a 3-mile radius and 323,934 within a 5-mile radius. Advance Auto Parts has a Standard & Poor's credit rating of "BBB-". The location also benefits from a strong daytime employee presence, with over 11,000 employees within a 1-mile radius and 118,000 within a 3-mile radius.
Key Highlights
- Absolute NNN Lease Structure - 0 Landlord Responsibilities
- Single Tenant Free‑Standing Advance Auto Parts
- High Traffic Counts - 36,000+ Vehicles Pass Site Daily on San Mateo Blvd NE**
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
$99,357
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
3.77%
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%
$1,987,140
$2.0M
Cap Rate 7%
$1,419,386
$1.4M
Cap Rate 9%
$1,103,967
$1.1M
Market Conditions
NOI Build-Up for 6,912 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
$153.4K $22.20/SF
− Vacancy
−$11.5K −$1.67/SF
EGI
$141.9K $20.54/SF
− OpEx
−$42.6K −$6.16/SF
NOI
$99.4K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,987,140
Cap Rate 7%
$1,419,386
Cap Rate 9%
$1,103,967
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.66M
NOI $99,357 @ 7.0% cap · market cap 3.77%
Second Best
Industrial
$594.1K
$519.8K – $693.1K
NOI $41,586 @ 7.0% cap · market cap 1.58%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,051 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,392
Businesses Nearby
410k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 21%
Apparel 17%
Groceries 11%
Raising Cane's Chicken Fingers
Dining
72,902 visits/mo
0.4 miles
Ross Dress for Less
Apparel
55,862 visits/mo
0.4 miles
Chick-fil-A
Dining
46,909 visits/mo
0.4 miles
Albertsons
Groceries
46,084 visits/mo
0.3 miles
dd's DISCOUNTS
Shops & Services
30,851 visits/mo
0.4 miles
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 2400 San Mateo Pl NE, Albuquerque, NM 87110
Frequently Asked Questions
What type of property is this?
Automotive property - Single tenant, absolute NNN lease in Albuquerque MSA.
Where is this automotive property located?
The property is located at 2807 San Mateo Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,634,076.
What are key features of this property?
This property features: Absolute NNN Lease Structure - 0 Landlord Responsibilities; Single Tenant Free‑Standing Advance Auto Parts; High Traffic Counts - 36,000+ Vehicles Pass Site Daily on San Mateo Blvd NE**
