Renovated Four-Unit
For Sale
$725,000
313 McKnight Ave Unit A B C M, Albuquerque, NM 87102
Recent renovations and new sewer and water lines support the property's multifamily configuration.
Property Size3,861 SF
Price / SF$187.78
Days on Market24
Property Features for 313 McKnight Ave Unit A B C M
General Information
Standard status
Active
Size
3,861 SF
Property subtype
Residential Income
Building Details
Year Built
2009
Listing Agency:
Maestas Real Estate Services
(505) 463-3565
Listed By:
Anita Maestas · License #16029
Source:
Findalbuquerqueproperties
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 29 at 10:33AM
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 Maestas Real Estate Services
Investment Insights
Based on property information with market context.
This quadplex comprises 4 freestanding units totaling 3861 square feet. Built in 2009, the property has undergone recent renovations and includes new sewer and water lines. The separate-unit layout provides a clear multifamily format within a compact residential compound.
Positioned in Albuquerque's North Downtown district, the property is within walking distance of parks, restaurants, and retail. Old Town, Downtown, the medical corridor, and the Rail Trail are minutes away, with nearby access to extensive biking and hiking paths. Major employers identified in the surrounding area include Netflix, Meta, Amazon, and Intel.
Positioned in Albuquerque's North Downtown district, the property is within walking distance of parks, restaurants, and retail. Old Town, Downtown, the medical corridor, and the Rail Trail are minutes away, with nearby access to extensive biking and hiking paths. Major employers identified in the surrounding area include Netflix, Meta, Amazon, and Intel.
Key Highlights
- 4 freestanding units in a quadplex configuration
- 3861 square feet across the property
- Built in 2009
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
$35,246
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
4.86%
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%
$704,920
$704.9K
Cap Rate 7%
$503,514
$503.5K
Cap Rate 9%
$391,622
$391.6K
Market Conditions
NOI Build-Up for 3,861 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
$53.3K $13.80/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$50.4K $13.04/SF
− OpEx
−$15.1K −$3.91/SF
NOI
$35.2K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /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%
$704,920
Cap Rate 7%
$503,514
Cap Rate 9%
$391,622
Alternative Uses
Best Use
Multifamily LT 5
$503.5K
$440.6K – $587.4K
NOI $35,246 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$465.9K
$407.7K – $543.6K
NOI $32,613 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$934.1K
$817.3K – $1.09M
NOI $65,384 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
962
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?
Quadplex - Recent renovations and new sewer and water lines support the property's multifamily configuration.
Where is this quadplex located?
The property is located at 313 McKnight Ave Unit A B C M Albuquerque, NM.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 4 freestanding units in a quadplex configuration; 3861 square feet across the property; Built in 2009
