Multi-Tenant Office Building For
For Sale
Contact for pricing
3121 Amherst Drive Northeast, Albuquerque, NM 87107
Well-maintained office building with blended occupancy and refitting opportunities.
Property Size25,642 SF
Price / SF$154.14
Days on Market66
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 Agency:
CBRE - Albuquerque
Listed By:
Jason Lott · License #NM 47516
Source:
Crexi
Added: May 26
Changed: Jul 10
Last Checked: Jul 30 at 4:15PM
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
Investment Insights
Based on property information with market context.
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.
Key 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
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
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?
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
