Finished Office Unit with Open
For Sale
$269,900
332 Adams Street SE, Albuquerque, NM 87108
CommercialSale, Albuquerque, NM
Property Size1,250 SF
Lot Size0.07 Acres
Price / SF$215.92
Days on Market13
Property Features for 332 Adams Street SE
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
MX-T*
Parking
5
Directions
From I-40, take the San Mateo Blvd exit and head south. Turn left (east) on Zuni Rd SE, then turn left (north) on Adams St SE. Property will be on the right at 332 Adams St SE, near Zuni and Washington.
Subdivision
42 - UNM South
Standard status
Active
APN
101705731306440916
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1502
Building Details
Floors in Building
1
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Silesha Montano Naden · License #42168
(505) 804-2139
Added: Sep 10
Changed: Sep 17
Last Checked: Sep 22 at 6:06PM
MLS# 1110969
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office unit at 332 Adams Street SE offers a finished commercial interior currently configured for salon use. The layout includes private office space, a restroom, dedicated storage, and an open work area, with hardwood-style flooring and substantial natural light throughout. Shared parking and building and monument signage support day-to-day business operations.
The property occupies 0.07 acres in Albuquerque near Nob Hill, UNM, Uptown, Downtown, and major transportation corridors. MX-T Mixed-Use Transition zoning provides a mixed-use framework for the property, subject to verification of permitted uses. The adaptable interior may accommodate office, wellness, creative, or professional-service operations based on the existing configuration.
The property occupies 0.07 acres in Albuquerque near Nob Hill, UNM, Uptown, Downtown, and major transportation corridors. MX-T Mixed-Use Transition zoning provides a mixed-use framework for the property, subject to verification of permitted uses. The adaptable interior may accommodate office, wellness, creative, or professional-service operations based on the existing configuration.
Key Highlights
- Approximately 1,250 square feet of finished commercial space
- 0.07‑acre property at 332 Adams Street SE, Albuquerque, NM 87108
- Existing salon buildout with private office, restroom, storage, and open workspace
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
$16,605
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
6.15%
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%
$332,100
$332.1K
Cap Rate 7%
$237,214
$237.2K
Cap Rate 9%
$184,500
$184.5K
Market Conditions
NOI Build-Up for 1,250 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
$27.0K $21.60/SF
− Vacancy
−$4.9K −$3.89/SF
EGI
$22.1K $17.71/SF
− OpEx
−$5.5K −$4.43/SF
NOI
$16.6K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /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%
$332,100
Cap Rate 7%
$237,214
Cap Rate 9%
$184,500
Alternative Uses
Best Use
Office B
$237.2K
$207.6K – $276.8K
NOI $16,605 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.4K
$264.6K – $352.8K
NOI $21,168 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,533
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 units - Flexible commercial suite with private offices, storage, shared parking, signage, and MX-T Mixed-Use Transition zoning.
Where is this office units located?
The property is located at 332 Adams Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Approximately 1,250 square feet of finished commercial space; 0.07‑acre property at 332 Adams Street SE, Albuquerque, NM 87108; Existing salon buildout with private office, restroom, storage, and open workspace
