Freestanding Storefront
2837 San Mateo Boulevard NE, Albuquerque, NM 87110
For Sale
$349,000
Commercial Sale, Albuquerque, NM
Property Size1,773 SF
Lot Size0.17 Acres
Price / SF$196.84
Days on Market62
Property Features for 2837 San Mateo Boulevard NE
General Information
Property type
Property subtype
Zoning
Parking
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Floors in Building
Buildings
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
Jacob E Lopez · License NM #50903
(505) 328-5156
Added: Sep 14
Changed: Nov 9
Last Checked: Nov 14 at 4:06AM
MLS# 1110973
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 freestanding 1,773-square-foot storefront occupies a 0.17-acre site at 2837 San Mateo Boulevard NE. The interior includes a street-facing retail and display area, lounge, two work areas, kitchen, office, storage, and full bathroom, with a washer and dryer connection. A covered walkway leads toward covered alley parking. The roof was replaced in 2022 with a 60-mil TPO membrane over the main building and rear structure. Existing finishes include plank, laminate, and tile flooring, along with painted and wood-paneled walls. Cosmetic updates are needed. A Phase I environmental assessment identified no recognized environmental conditions, and utilities are connected.
The property has approximately 64 feet of frontage on San Mateo Boulevard, identified as a Major Transit Corridor. Traffic on the boulevard reaches 47,000 vehicles per day. The I-40 interchange is 0.70 miles south, and Menaul Boulevard is 0.35 miles away. MX-L zoning supports office, medical and dental clinics, personal and business services, small general retail, banks, restaurants, and other listed commercial uses; additional uses may require conditional approval. The site is within an Area of Change, with no character, historic, or view overlays noted.
The property has approximately 64 feet of frontage on San Mateo Boulevard, identified as a Major Transit Corridor. Traffic on the boulevard reaches 47,000 vehicles per day. The I-40 interchange is 0.70 miles south, and Menaul Boulevard is 0.35 miles away. MX-L zoning supports office, medical and dental clinics, personal and business services, small general retail, banks, restaurants, and other listed commercial uses; additional uses may require conditional approval. The site is within an Area of Change, with no character, historic, or view overlays noted.
Key Highlights
- 1,773 square feet on a 0.17‑acre parcel
- Approximately 64 feet of frontage on San Mateo Boulevard
- Traffic counts on San Mateo Boulevard reach 47,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,486
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
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
$251,400
Median Home Value
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Market
Average Price Trend$/SF for Storefront properties in Albuquerque, NM
Properties on Market for Storefront properties in Albuquerque
Vacancy Rate% for Retail in Albuquerque, NM
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 - MX-L zoning allows a range of commercial uses, including office, clinic, retail, restaurant, and personal services.
Where is this storefront property located?
The property is located at 2837 San Mateo Boulevard 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 square feet on a 0.17‑acre parcel; Approximately 64 feet of frontage on San Mateo Boulevard; Traffic counts on San Mateo Boulevard reach 47,000 vehicles per day
