Remodeled Flex Space with
For Sale
$625,000
301 Wyoming Blvd NE, Albuquerque, NM 87123
Freestanding commercial property combines updated offices with garage and workshop space for vehicle-related operations.
Property Size3,778 SF
Price / SF$165.43
Days on Market365
Property Features for 301 Wyoming Blvd NE
General Information
Standard status
Active
Size
3,778 SF
Property subtype
Retail
Zoning
MX-M
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
1,708 SF
Office Build-Out
2,076 SF
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Buildings
1
Building Size
3,778 SF
Listing Agency:
Hanna Commercial, LLC
(505) 332-0522
Listed By:
Richard Hanna · License #9158
(505) 332-0522
Source:
Carnm.resimplifi
Added: Sep 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:26PM
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 Hanna Commercial, LLC
Investment Insights
Based on property information with market context.
This freestanding flex property at 301 Wyoming Blvd NE contains 3,778 SF arranged between 2,076 SF of updated office space and 1,708 SF of garage and workshop area. The building has been remodeled and includes three roll-up doors, providing a practical connection between administrative space and work areas. A fenced yard is also available for overnight vehicle storage.
The property is positioned in Albuquerque’s Southeast Heights submarket with immediate access to I-40. It carries MX-M zoning and offers a combination of enclosed office, service-oriented workspace, and secured exterior storage. The site’s address is 301 Wyoming Blvd NE, Albuquerque, NM 87123.
The property is positioned in Albuquerque’s Southeast Heights submarket with immediate access to I-40. It carries MX-M zoning and offers a combination of enclosed office, service-oriented workspace, and secured exterior storage. The site’s address is 301 Wyoming Blvd NE, Albuquerque, NM 87123.
Key Highlights
- 3,778 SF freestanding flex property
- 2,076 SF of updated office space
- 1,708 SF of garage and workshop area
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
$50,187
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
8.03%
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%
$1,003,740
$1.0M
Cap Rate 7%
$716,957
$717.0K
Cap Rate 9%
$557,633
$557.6K
Market Conditions
NOI Build-Up for 3,778 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
$81.6K $21.60/SF
− Vacancy
−$14.7K −$3.89/SF
EGI
$66.9K $17.71/SF
− OpEx
−$16.7K −$4.43/SF
NOI
$50.2K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,003,740
Cap Rate 7%
$716,957
Cap Rate 9%
$557,633
Alternative Uses
Best Use
Office B
$717.0K
$627.3K – $836.5K
NOI $50,187 @ 7.0% cap · market cap 8.03%
Second Best
Flex RnD
$479.9K
$419.9K – $559.9K
NOI $33,594 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$914.0K
$799.7K – $1.07M
NOI $63,978 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Aramark — 9901 Southern Blvd SE, Albuquerque, NM 87123
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial property combines updated offices with garage and workshop space for vehicle-related operations.
Where is this flex space located?
The property is located at 301 Wyoming Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,778 SF freestanding flex property; 2,076 SF of updated office space; 1,708 SF of garage and workshop area
