44-Unit Self Storage
For Sale
$495,000
Pending
306 Isleta Blvd, Albuquerque, NM 87105
Renovated in 2019, the property includes an office component for on-site operations.
Property Size2,875 SF
Days on Market67
Property Features for 306 Isleta Blvd
General Information
Standard status
Pending
Size
2,875 SF
Additional Details
Self-Storage Units
44
Building Details
Year Renovated
2019
Listing Agency:
Albuquerque Elite Prop Managem
Listed By:
Joni M Wolfswinkel
(505) 831-8700
Source:
Myabqhomesearch
Added: Jul 23
Changed: Sep 9
Last Checked: Sep 26 at 7:38AM
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 Albuquerque Elite Prop Managem
Investment Insights
Based on property information with market context.
This self-storage property includes 44 units and an office building, providing a dedicated facility with an administrative component. Renovation work was completed in 2019.
The property is located at 306 Isleta Blvd SW in Albuquerque, New Mexico.
The property is located at 306 Isleta Blvd SW in Albuquerque, New Mexico.
Key Highlights
- 44 self‑storage units with an office building
- Renovated in 2019
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
$23,456
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
4.74%
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%
$469,120
$469.1K
Cap Rate 7%
$335,086
$335.1K
Cap Rate 9%
$260,622
$260.6K
Market Conditions
NOI Build-Up for 2,875 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
$36.2K $12.60/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$33.5K $11.66/SF
− OpEx
−$10.1K −$3.50/SF
NOI
$23.5K $8.16/SF
Area
ZIP 87105
Vacancy
7.50%
Lease Rate
$12.60 /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%
$469,120
Cap Rate 7%
$335,086
Cap Rate 9%
$260,622
Alternative Uses
Best Use
Self Storage
$335.1K
$293.2K – $390.9K
NOI $23,456 @ 7.0% cap · market cap 4.74%
Second Best
Warehouse
$295.3K
$258.4K – $344.6K
NOI $20,674 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$627.3K
$548.9K – $731.9K
NOI $43,912 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Renovated in 2019, the property includes an office component for on-site operations.
Where is this self storage facility located?
The property is located at 306 Isleta Blvd Albuquerque, NM.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 44 self‑storage units with an office building; Renovated in 2019
