Freestanding Retail
New
For Sale
$385,000
2833 San Mateo Boulevard Northeast, Albuquerque, NM 87110
MX-L zoning supports retail, restaurant, medical, office, and personal service uses.
Property Size1,887 SF
Days on Market4
Property Features for 2833 San Mateo Boulevard Northeast
General Information
Standard status
Active
Size
1,887 SF
Property subtype
Street Retail
Zoning
MX-L
Building Details
Building Size
1,887 SF
Buildings
1
Listing Agency:
SVN | Walt Arnold Commercial Brokerage, Inc.
(505) 256-7573
Listed By:
Zane Van Winkle · License ##REC-2025-0309
(505) 256-7573
Source:
Thebrokerlist
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:34AM
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 SVN | Walt Arnold Commercial Brokerage, Inc.
Investment Insights
Based on property information with market context.
This freestanding retail building fronts San Mateo Boulevard and includes a large monument sign. Capital improvements completed in 2022 include a new TPO roof, stucco, and swamp coolers. A new sewer line extends to the street, and a floor plan, Phase I, and 2021 inspection are available.
The property is located on San Mateo Boulevard between Candelaria and Menaul, approximately ¾ mile north of the San Mateo Boulevard and I-40 interchange. It sits next to Heart & Sole Sports and near the Bel Air neighborhood, with surrounding national and local retailers along the corridor.
MX-L zoning allows retail, restaurant, medical, office, and personal service uses.
The property is located on San Mateo Boulevard between Candelaria and Menaul, approximately ¾ mile north of the San Mateo Boulevard and I-40 interchange. It sits next to Heart & Sole Sports and near the Bel Air neighborhood, with surrounding national and local retailers along the corridor.
MX-L zoning allows retail, restaurant, medical, office, and personal service uses.
Key Highlights
- Freestanding retail building with frontage on San Mateo Boulevard
- New TPO roof, stucco, and swamp coolers completed in 2022
- New sewer line installed to the street
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
$27,125
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
7.05%
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%
$542,500
$542.5K
Cap Rate 7%
$387,500
$387.5K
Cap Rate 9%
$301,389
$301.4K
Market Conditions
NOI Build-Up for 1,887 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
$41.9K $22.20/SF
− Vacancy
−$3.1K −$1.67/SF
EGI
$38.7K $20.54/SF
− OpEx
−$11.6K −$6.16/SF
NOI
$27.1K $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%
$542,500
Cap Rate 7%
$387,500
Cap Rate 9%
$301,389
Alternative Uses
Best Use
Retail
$387.5K
$339.1K – $452.1K
NOI $27,125 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.5K
$399.4K – $532.6K
NOI $31,955 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,364
Businesses Nearby
117k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 37%
Apparel 11%
Home Improvements & Furnishings 5%
dd's DISCOUNTS
Shops & Services
30,851 visits/mo
0.5 miles
Starbucks
Dining
12,427 visits/mo
0.5 miles
Big 5 Sporting Goods
Apparel
12,391 visits/mo
0.1 miles
Shell
Shops & Services
10,226 visits/mo
0.2 miles
Burger King
Dining
10,059 visits/mo
0.3 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.
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Frequently Asked Questions
What type of property is this?
Storefront property - MX-L zoning supports retail, restaurant, medical, office, and personal service uses.
Where is this storefront property located?
The property is located at 2833 San Mateo Boulevard Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Freestanding retail building with frontage on San Mateo Boulevard; New TPO roof, stucco, and swamp coolers completed in 2022; New sewer line installed to the street
