Multifamily Investment in
For Sale
$1,000,000
313-315 Iron Ave. SW, Albuquerque, NM 87102
5,603 SF building with 9 units and 100% occupancy.
Property Size6,542 SF
Price / SF$178.48
Days on Market286
Property Features for 313-315 Iron Ave. SW
General Information
Standard status
Active
Size
6,542 SF
Property subtype
Multifamily
Building Details
Building Size
6,542 SF
Listed By:
Walt Arnold, CCIM, SIOR · License #NM #9117
(505) 269-9358
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 31
Last Checked: Sep 2 at 4:49PM
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 Walt Arnold, CCIM, SIOR
Investment Insights
Based on property information with market context.
This 5,603 SF building located at 313-315 Iron Ave. SW offers an investment opportunity with 9 units and 100% occupancy. The property is situated in a downtown location within Albuquerque, NM. The building layouts are functional, and the MX-L zoning presents potential for a low-rise or garden-style property transformation. The surrounding neighborhood offers access to the Historic Old Town, local shops, and restaurants, as well as cultural attractions like the Albuquerque Museum and the Rio Grande Zoo. Its position near the downtown area provides residents with access to dining, entertainment, and employment opportunities. The property has a patio and outdoor area. The buildings are in fair condition, presenting investors with the opportunity to enhance the real estate asset.
Key Highlights
- 100% Occupancy: Provides immediate and consistent rental income.
- Prime Downtown Location: Offers convenient access to dining, entertainment, and employment opportunities.
- Strong Multifamily Market: Situated in Albuquerque, a market with high demand for multifamily properties.
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
$47,327
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
4.73%
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%
$946,540
$946.5K
Cap Rate 7%
$676,100
$676.1K
Cap Rate 9%
$525,856
$525.9K
Market Conditions
NOI Build-Up for 5,603 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
$90.8K $16.20/SF
− Vacancy
−$4.7K −$0.84/SF
EGI
$86.0K $15.36/SF
− OpEx
−$38.7K −$6.91/SF
NOI
$47.3K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$946,540
Cap Rate 7%
$676,100
Cap Rate 9%
$525,856
Alternative Uses
Best Use
Apartment 5plus
$676.1K
$591.6K – $788.8K
NOI $47,327 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,883 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,978
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 5,603 SF building with 9 units and 100% occupancy.
Where is this apartment building located?
The property is located at 313-315 Iron Ave. SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate and consistent rental income.; Prime Downtown Location: Offers convenient access to dining, entertainment, and employment opportunities.; Strong Multifamily Market: Situated in Albuquerque, a market with high demand for multifamily properties.
