Freestanding Storefront
For Sale
$349,000
2837 San Mateo Blvd NE, Albuquerque, NM 87110
Mixed-use commercial space with connected utilities, rear covered parking, and flexible office, retail, and service potential.
Property Size1,773 SF
Lot Size0.17 Acres
Price / SF$196.84
Days on Market11
Property Features for 2837 San Mateo Blvd NE
General Information
Standard status
Active
Size
1,773 SF
Lot size
0.17 Acres
Property subtype
Multi-Family
Zoning
MX-L
Property Condition
Severity
Repairs Needed
Evidence
needs cosmetic updating
Site & Location
Frontage
64 ft
Traffic Count
47,000 vehicles/day
Utilities to Site
Yes
Listing Agency:
Double Eagle Real Estate
(505) 883-1414
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 6:52AM
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 Double Eagle Real Estate
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 1,773 SF on a 0.17-acre parcel. The interior includes a street-facing retail and display area, lounge, two work areas, kitchen, office, storage, bathroom, and washer/dryer connection. A covered rear walkway leads toward covered alley parking. Existing finishes include mixed plank, laminate, and tile flooring, painted and wood-paneled walls, security doors, and window grilles. The kitchen and full bathroom remain in place, while the interior and landscaping require cosmetic updating.
The property fronts San Mateo Boulevard with approximately 64 feet of exposure on a designated Major Transit Corridor. Reported traffic volume reaches 47,000 vehicles per day, with I-40 located 0.70 miles south and Menaul Boulevard 0.35 miles away. MX-L zoning under Albuquerque's IDO supports office, medical and dental clinic, personal and business services, small general retail, restaurant, bank, commercial services, and cannabis retail as primary uses, with additional uses subject to conditional approval. The main building and rear building received a 60-mil TPO roof system in 2022, all utilities are connected, and a Phase I ESA found no recognized environmental conditions.
The property fronts San Mateo Boulevard with approximately 64 feet of exposure on a designated Major Transit Corridor. Reported traffic volume reaches 47,000 vehicles per day, with I-40 located 0.70 miles south and Menaul Boulevard 0.35 miles away. MX-L zoning under Albuquerque's IDO supports office, medical and dental clinic, personal and business services, small general retail, restaurant, bank, commercial services, and cannabis retail as primary uses, with additional uses subject to conditional approval. The main building and rear building received a 60-mil TPO roof system in 2022, all utilities are connected, and a Phase I ESA found no recognized environmental conditions.
Key Highlights
- 1,773 SF freestanding commercial building on 0.17 acres
- Approximately 64 feet of frontage on San Mateo Boulevard
- Traffic counts reach 47,000 vehicles per day; I‑40 is 0.70 miles south
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
$25,486
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
7.30%
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%
$509,720
$509.7K
Cap Rate 7%
$364,086
$364.1K
Cap Rate 9%
$283,178
$283.2K
Market Conditions
NOI Build-Up for 1,773 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
$39.4K $22.20/SF
− Vacancy
−$3.0K −$1.67/SF
EGI
$36.4K $20.54/SF
− OpEx
−$10.9K −$6.16/SF
NOI
$25.5K $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%
$509,720
Cap Rate 7%
$364,086
Cap Rate 9%
$283,178
Alternative Uses
Best Use
Retail
$364.1K
$318.6K – $424.8K
NOI $25,486 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.9K
$375.3K – $500.4K
NOI $30,025 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
47,000 VPD
Traffic count
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Oliver Same Day Flower Delivery Albuquerque — 4166 menaul blvd ne, albuquerque, nm 87110
- Send Flowers 24x7 - Same Day Flower Delivery — 2620 carlisle blvd ne, albuquerque, nm 87110
- Manning Florist — 3121 San Mateo Blvd NE, Albuquerque, NM 87110
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use commercial space with connected utilities, rear covered parking, and flexible office, retail, and service potential.
Where is this storefront property located?
The property is located at 2837 San Mateo Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,773 SF freestanding commercial building on 0.17 acres; Approximately 64 feet of frontage on San Mateo Boulevard; Traffic counts reach 47,000 vehicles per day; I‑40 is 0.70 miles south
