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2906 4th Street Northwest, Albuquerque, NM 87107
Mixed-use commercial property with warehouse, display, storage, and office configurations along 4th Street Northwest.
Property Size15,341 SF
Price / SF$224.89
Days on Market6
Property Features for 2906 4th Street Northwest
General Information
Standard status
Active
Size
15,341 SF
Property subtype
Retail, Industrial
Zoning
MX-M
Building Details
Buildings
4
Listing Agency:
Berkshire Hathaway New Mexico Commercial Division
(505) 289-0549
Listed By:
Joseph Maez · License #REC-2023-0767
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 4:21AM
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 New Mexico Commercial Division
Investment Insights
Based on property information with market context.
This flex property comprises four buildings totaling approximately 15,341 square feet on approximately 0.62 acres. The improvements combine warehouse and showroom areas with a two-story component, multiple storage rooms, covered storage and patio areas totaling approximately 3,613 square feet, and three overhead garage doors. Interior configurations can accommodate retail display, inventory storage, production, office, or distribution functions.
Located at 2906 4th Street Northwest, the property is zoned MX-M and fronts 4th Street NW. Access to I-25 and I-40 connects the site with Downtown Albuquerque, Old Town, Los Ranchos, and the broader Albuquerque metropolitan area. The address supports a range of commercial operations requiring customer access, storage, and flexible workspace.
Located at 2906 4th Street Northwest, the property is zoned MX-M and fronts 4th Street NW. Access to I-25 and I-40 connects the site with Downtown Albuquerque, Old Town, Los Ranchos, and the broader Albuquerque metropolitan area. The address supports a range of commercial operations requiring customer access, storage, and flexible workspace.
Key Highlights
- Approximately 15,341 square feet across four buildings
- Approximately 0.62‑acre site with MX‑M zoning
- Approximately 3,613 square feet of covered storage and patio areas
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
$220,519
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
6.39%
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%
$4,410,380
$4.4M
Cap Rate 7%
$3,150,271
$3.2M
Cap Rate 9%
$2,450,211
$2.5M
Market Conditions
NOI Build-Up for 15,341 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
$340.6K $22.20/SF
− Vacancy
−$25.5K −$1.67/SF
EGI
$315.0K $20.54/SF
− OpEx
−$94.5K −$6.16/SF
NOI
$220.5K $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%
$4,410,380
Cap Rate 7%
$3,150,271
Cap Rate 9%
$2,450,211
Alternative Uses
Best Use
Retail
$3.15M
$2.76M – $3.68M
NOI $220,519 @ 7.0% cap · market cap 6.39%
Second Best
Office B
$2.91M
$2.55M – $3.40M
NOI $203,790 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$3.71M
$3.25M – $4.33M
NOI $259,791 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use commercial property with warehouse, display, storage, and office configurations along 4th Street Northwest.
Where is this flex space located?
The property is located at 2906 4th Street Northwest Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Approximately 15,341 square feet across four buildings; Approximately 0.62‑acre site with MX‑M zoning; Approximately 3,613 square feet of covered storage and patio areas
