Multi-Tenant Office Building For
3121 Amherst Drive Northeast, Albuquerque, NM 87107
New
Well-maintained office building with blended occupancy and refitting opportunities.
Type:Office, Mixed Use, Special Purpose
Property size:
25,642 SFPrice / SF:
$154/SF- Added:
- May 26, 2026
- Days on Market:
- 5
- Last Refresh:
- May 27 at 8:26 am
Property Features for 3121 Amherst Drive Northeast
General Information
- Standard status
- Active
- Size
- 25,642 SF
- Property subtype
- Office, Mixed Use, Special Purpose
Building Details
- Year Built
- 1996
Listing agent Jason Lott License #NM 47516
Listing office CBRE - Albuquerque
Listing date May 26, 2026
Source Crexi
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 CBRE - Albuquerque
HighLights
- Multi‑tenant office building in a mixed office and industrial area
- Located just outside the I‑25 Corridor
- Blended occupancy allows for creative refitting opportunities
- Lucrative refitting opportunities
- Opportunity for owner‑user to utilize current vacancy
- Phased winddown of revenue allows business build‑up
Overview
The property at 3121 Amherst Drive Northeast is a well-maintained, multi-tenant office building. It is situated in a mixed office and industrial area located just outside the I-25 Corridor. The building's blended occupancy allows for creative and lucrative refitting opportunities. The property size is 25642 square feet. An owner user can utilize the current vacancy and phased winddown of revenue to build up their own business.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $553.9k | $21.60 |
| − Vacancy | −$99.7k | −$3.89 |
| EGI | $454.2k | $17.71 |
| − OpEx | −$113.5k | −$4.43 |
| NOI | $340.6k | $13.28 |
25,642 SF · lease $21.60/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.87M
$4.26M – $5.68M
NOI $340,628 @ 7.0% cap · market cap 8.62%
Second Best
Mixed Use
$4.45M
$3.89M – $5.19M
NOI $311,550 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$6.20M
$5.43M – $7.24M
NOI $434,232 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Sandoval
- State
- New Mexico
- Longitude
- -106.606827
- Latitude
- 35.117956
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Well-maintained office building with blended occupancy and refitting opportunities.
Where is this office building located?
The property is located at 3121 Amherst Drive Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,952,500.
What are key features of this property?
This property features: Multi‑tenant office building in a mixed office and industrial area; Located just outside the I‑25 Corridor; Blended occupancy allows for creative refitting opportunities
