Triplex with Owner’s
New
For Sale
$584,900
2832 Palo Verde Dr NE, Albuquerque, NM 87112
Three spacious residences include fireplaces, while the primary unit adds a garage and expanded bedroom and bath count.
Property Size3,288 SF
Price / SF$177.89
Days on Market2
Property Features for 2832 Palo Verde Dr NE
General Information
Standard status
Active
Size
3,288 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
fireplace
Building Details
Year Built
1980
Listing Agency:
Berkshire Hathaway Hs Nm Prope
(505) 865-7355
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 5
Last Checked: Sep 5 at 2:45PM
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 Berkshire Hathaway Hs Nm Prope
Investment Insights
Based on property information with market context.
Built in 1980, this 3,288-square-foot triplex contains three residences with spacious rooms, living areas, kitchens, and fireplaces. The owner’s residence includes three bedrooms, two bathrooms, and a two-car garage. Neutral interior colors are featured throughout, and the property has a TPO roof dated 2026.
Located at 2832 Palo Verde Dr NE in Albuquerque, the property offers city and mountain views. The three-unit configuration supports occupancy of the entire building or use of one residence with the others rented, as described in the property information.
Located at 2832 Palo Verde Dr NE in Albuquerque, the property offers city and mountain views. The three-unit configuration supports occupancy of the entire building or use of one residence with the others rented, as described in the property information.
Key Highlights
- Three‑unit triplex totaling 3,288 square feet
- Owner’s unit includes 3 bedrooms, 2 baths, and a 2‑car garage
- Each unit features a fireplace
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
$30,015
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
5.13%
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%
$600,300
$600.3K
Cap Rate 7%
$428,786
$428.8K
Cap Rate 9%
$333,500
$333.5K
Market Conditions
NOI Build-Up for 3,288 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
$45.4K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.9K $13.04/SF
− OpEx
−$12.9K −$3.91/SF
NOI
$30.0K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /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%
$600,300
Cap Rate 7%
$428,786
Cap Rate 9%
$333,500
Alternative Uses
Best Use
Multifamily LT 5
$428.8K
$375.2K – $500.3K
NOI $30,015 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$396.8K
$347.2K – $462.9K
NOI $27,773 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$795.4K
$696.0K – $928.0K
NOI $55,680 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three spacious residences include fireplaces, while the primary unit adds a garage and expanded bedroom and bath count.
Where is this triplex located?
The property is located at 2832 Palo Verde Dr NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $584,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 3,288 square feet; Owner’s unit includes 3 bedrooms, 2 baths, and a 2‑car garage; Each unit features a fireplace
