Two-Tenant NNN Retail
For Sale
Contact for pricing
3140 Coors Blvd NW, Albuquerque, NM 87120
Fully occupied neighborhood retail building with mixed-use low intensity zoning and two established tenants.
Property Size11,869 SF
Price / SF$228.24
Days on Market14
Property Features for 3140 Coors Blvd NW
General Information
Standard status
Active
Size
11,869 SF
Class
B
Total Parking Spaces
49
Property subtype
Retail
Zoning
Mixed-Use Low Intensity
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$203,140
Financials
Asking Price
$2,709,000
Cap Rate
7.5%
Additional Details
Anchor Co-Tenants
Big 5 Sporting Goods, Honey Supply Smoke Shop
Building Details
Year Built
2003
Buildings
1
Tenancy
Multi
Listing Agency:
Faris Lee Investments
(949) 221-1810
Listed By:
Jeff Conover · License #CA 01008195
Source:
Crexi
Added: Aug 10
Changed: Aug 21
Last Checked: Aug 22 at 6:46AM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
The 11,869-square-foot retail property was built in 2003 and is fully leased to Big 5 Sporting Goods and Honey Supply Smoke Shop. The two-tenant configuration supports a neighborhood retail format, with each occupant maintaining its interior premises and HVAC system under net lease arrangements.
Located at 3140 Coors Blvd NW in Albuquerque, the property is zoned Mixed-Use Low Intensity. Big 5 has operated at the site since 2004 and is committed through March 2030, with one remaining five-year renewal option. Honey Supply has occupied the property since 2021, with its lease extending through July 2029 and scheduled rent increases in August 2027 and August 2028. The property is 100% leased and reports a 7.50% cap rate on in-place NOI.
Located at 3140 Coors Blvd NW in Albuquerque, the property is zoned Mixed-Use Low Intensity. Big 5 has operated at the site since 2004 and is committed through March 2030, with one remaining five-year renewal option. Honey Supply has occupied the property since 2021, with its lease extending through July 2029 and scheduled rent increases in August 2027 and August 2028. The property is 100% leased and reports a 7.50% cap rate on in-place NOI.
Key Highlights
- 11,869‑square‑foot retail property built in 2003
- 100% leased to Big 5 Sporting Goods and Honey Supply Smoke Shop
- NNN lease structure with tenant reimbursement of property taxes, insurance, and CAM
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
$131,264
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
4.85%
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%
$2,625,280
$2.6M
Cap Rate 7%
$1,875,200
$1.9M
Cap Rate 9%
$1,458,489
$1.5M
Market Conditions
NOI Build-Up for 11,869 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
$206.5K $17.40/SF
− Vacancy
−$19.0K −$1.60/SF
EGI
$187.5K $15.80/SF
− OpEx
−$56.3K −$4.74/SF
NOI
$131.3K $11.06/SF
Area
ZIP 87120
Vacancy
9.20%
Lease Rate
$17.40 /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%
$2,625,280
Cap Rate 7%
$1,875,200
Cap Rate 9%
$1,458,489
Alternative Uses
Best Use
Retail
$1.88M
$1.64M – $2.19M
NOI $131,264 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,012 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
451k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 30%
Home Improvements & Furnishings 13%
Electronics 2%
The Home Depot
Home Improvements & Furnishings
55,507 visits/mo
0.3 miles
McDonald's
Dining
34,517 visits/mo
0.2 miles
Chili's Grill & Bar
Dining
27,628 visits/mo
0.5 miles
Cracker Barrel Old Country Store
Dining
25,787 visits/mo
0.1 miles
Dollar Tree
Shops & Services
25,031 visits/mo
0.2 miles
Demographics for 87120, NM
64,643
Population
27,432
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
93%
High-School Grad
57.6 sq mi
ZIP Area
1,122
Density / Sq Mi
$84,887
Median Household Income
$49,726
Median Earnings
$1,404
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully occupied neighborhood retail building with mixed-use low intensity zoning and two established tenants.
Where is this nnn property located?
The property is located at 3140 Coors Blvd NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,709,000.
What are key features of this property?
This property features: 11,869‑square‑foot retail property built in 2003; 100% leased to Big 5 Sporting Goods and Honey Supply Smoke Shop; NNN lease structure with tenant reimbursement of property taxes, insurance, and CAM
