East Nob Hill Commercial
For Sale
Contact for pricing
332 Adams St SE, Albuquerque, NM 87108
Versatile 1,250 SF commercial suite in East Nob Hill.
Property Size1,250 SF
Price / SF$200
Days on Market699
Property Features for 332 Adams St SE
General Information
Standard status
Active
Size
1,250 SF
Class
B
Property subtype
Office, Retail
Zoning
MX-T
Building Details
Year Built
2009
Listing Agency:
Johnson Commercial Real Estate
(505) 353-2055
Listed By:
Ed Anlian · License #NM 14869
Source:
Crexi
Added: Sep 10, 2024
Changed: Aug 8
Last Checked: May 12 at 10:58PM
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 Johnson Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in East Nob Hill, this commercial suite offers approximately 1,250 square feet of space. Zoned MX-T / Mixed Used Transitional Zone, the property is suitable for a variety of professional and office uses. Currently configured as a salon, the suite features an open work area and hardwood floors. Shared parking is available, and the property benefits from prominent building and monument signage. The property is located at 332 Adams St SE, Albuquerque, NM 87108.
Key Highlights
- Attractively priced at $250,000 ($200/SF).
- Versatile 1,250± SF commercial suite suitable for various professional and office uses.
- Zoned MX‑T / Mixed Used Transitional Zone.
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
$17,968
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
7.19%
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%
$359,360
$359.4K
Cap Rate 7%
$256,686
$256.7K
Cap Rate 9%
$199,644
$199.6K
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
$27.8K $22.20/SF
− Vacancy
−$2.1K −$1.67/SF
EGI
$25.7K $20.54/SF
− OpEx
−$7.7K −$6.16/SF
NOI
$18.0K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /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%
$359,360
Cap Rate 7%
$256,686
Cap Rate 9%
$199,644
Alternative Uses
Best Use
Retail
$256.7K
$224.6K – $299.5K
NOI $17,968 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.4K
$264.6K – $352.8K
NOI $21,168 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 8%
Electronics 1%
Murphy USA
Shops & Services
15,490 visits/mo
0.5 miles
Circle K
Shops & Services
11,307 visits/mo
0.3 miles
Wells Fargo
Shops & Services
10,649 visits/mo
0.5 miles
Pizza Hut
Dining
2,269 visits/mo
0.3 miles
Wingstreet
Dining
1,277 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile 1,250 SF commercial suite in East Nob Hill.
Where is this retail space located?
The property is located at 332 Adams St SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Attractively priced at $250,000 ($200/SF).; Versatile 1,250± SF commercial suite suitable for various professional and office uses.; Zoned MX‑T / Mixed Used Transitional Zone.
