Restaurant Building with Two
For Sale
Contact for pricing
316-320 Central Ave SE, Albuquerque, NM 87102
Former Range Caf202 on Central offers two bars and three dining areas for breakfast, lunch, and dinner service.
Property Size10,613 SF
Price / SF$187.51
Days on Market226
Property Features for 316-320 Central Ave SE
General Information
Standard status
Active
Size
10,613 SF
Class
A
Total Parking Spaces
37
Property subtype
Retail, Office
Zoning
MX-L
Lease Type
NNN
Building Details
Buildings
2
Stories
2
Listing Agency:
King Capital Commercial Real Estate
Listed By:
David Fite · License #NM 39271AB
(505) 807-0605
Source:
Crexi
Added: Jan 23
Changed: Aug 16
Last Checked: Sep 6 at 7:51AM
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 King Capital Commercial Real Estate
Investment Insights
Based on property information with market context.
This restaurant building is the former Range Caf202 on Central in Albuquerque, offered for sale as a turnkey food service facility. The property includes two bars and three separate dining areas, supporting flexible layouts for guest seating and service flow.
The asset is located at 316–320 Central Ave SE in Albuquerque, NM. The existing configuration is well suited to operations planning to serve breakfast, lunch, and dinner from the same location.
If you’re looking for a restaurant space designed around multiple dining areas and bar service, this facility’s current improvements provide a straightforward starting point for a new concept or continued restaurant use.
The asset is located at 316–320 Central Ave SE in Albuquerque, NM. The existing configuration is well suited to operations planning to serve breakfast, lunch, and dinner from the same location.
If you’re looking for a restaurant space designed around multiple dining areas and bar service, this facility’s current improvements provide a straightforward starting point for a new concept or continued restaurant use.
Key Highlights
- Former Range Caf3 on Central in Albuquerque
- Features 2 bars
- Offers 3 dining areas for guest service
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
$179,572
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
9.02%
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%
$3,591,440
$3.6M
Cap Rate 7%
$2,565,314
$2.6M
Cap Rate 9%
$1,995,244
$2.0M
Market Conditions
NOI Build-Up for 10,613 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
$254.7K $24.00/SF
− Vacancy
−$15.3K −$1.44/SF
EGI
$239.4K $22.56/SF
− OpEx
−$59.9K −$5.64/SF
NOI
$179.6K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,591,440
Cap Rate 7%
$2,565,314
Cap Rate 9%
$1,995,244
Alternative Uses
Best Use
Specialty Retail
$2.57M
$2.24M – $2.99M
NOI $179,572 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,725 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,809
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 66%
Dining 32%
Shops & Services 2%
DoubleTree by Hilton Hotel
Hotels & Casinos
6,737 visits/mo
0.3 miles
Sushi Hana
Dining
5,747 visits/mo
0.1 miles
Hilton Garden Inn
Hotels & Casinos
5,166 visits/mo
0.4 miles
Hotel Andaluz Albuquerque, Curio Collection by Hilton
Hotels & Casinos
4,921 visits/mo
0.2 miles
Pizza Hut
Dining
2,281 visits/mo
0.5 miles
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 Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former Range Caf202 on Central offers two bars and three dining areas for breakfast, lunch, and dinner service.
Where is this conventional restaurant located?
The property is located at 316-320 Central Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Former Range Caf3 on Central in Albuquerque; Features 2 bars; Offers 3 dining areas for guest service
