Multi-Bay Flex
For Sale
Contact for pricing
3425 Girard Boulevard Northeast, Albuquerque, NM 87107
Industrial flex property with grade-level access, a fenced yard, private office areas, and three-phase electrical service.
Property Size4,600 SF
Price / SF$165.87
Days on Market126
Property Features for 3425 Girard Boulevard Northeast
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Industrial
Zoning
NR-LM
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
10
Power
400 amps
Voltage
208 V
Three-Phase Power
Yes
Additional Details
Opportunity Zone
Yes
Listing Agency:
NAI SunVista
(505) 270-4386
Listed By:
Ben Nolte · License #NM 19012
Source:
Crexi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 31 at 3:20AM
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 NAI SunVista
Investment Insights
Based on property information with market context.
This 4,600-square-foot flex property offers a practical industrial layout with five 10’x10’ grade-level bay doors, 10’–12’ clear heights, and 400-amp, 120/208V 3-phase power. Interior improvements include a private office, two additional rooms, and two restrooms, while the fenced yard adds secured exterior space. The property is zoned NR-LM.
Located at 3425 Girard Boulevard Northeast in Albuquerque, the site sits between Comanche Road and Candelaria Road, with access to both I-25 and I-40. The property is designated within an Opportunity Zone and a HUB Zone.
Located at 3425 Girard Boulevard Northeast in Albuquerque, the site sits between Comanche Road and Candelaria Road, with access to both I-25 and I-40. The property is designated within an Opportunity Zone and a HUB Zone.
Key Highlights
- 4,600‑square‑foot flex property with five 10’x10’ grade‑level bay doors
- 10’–12’ clear heights support a range of industrial operations
- 400‑amp, 120/208V 3‑phase power
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
$40,903
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
5.36%
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%
$818,060
$818.1K
Cap Rate 7%
$584,329
$584.3K
Cap Rate 9%
$454,478
$454.5K
Market Conditions
NOI Build-Up for 4,600 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
$66.2K $14.40/SF
− Vacancy
−$3.3K −$0.72/SF
EGI
$62.9K $13.68/SF
− OpEx
−$22.0K −$4.79/SF
NOI
$40.9K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$818,060
Cap Rate 7%
$584,329
Cap Rate 9%
$454,478
Alternative Uses
Best Use
Flex RnD
$584.3K
$511.3K – $681.7K
NOI $40,903 @ 7.0% cap · market cap 5.36%
Second Best
Warehouse
$450.4K
$394.1K – $525.5K
NOI $31,530 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$1.11M
$973.7K – $1.30M
NOI $77,898 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
10
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,640
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gourmet To Go Catering — 4003 Carlisle Blvd NE, Albuquerque, NM 87107
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with grade-level access, a fenced yard, private office areas, and three-phase electrical service.
Where is this flex space located?
The property is located at 3425 Girard Boulevard Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $763,000.
What are key features of this property?
This property features: 4,600‑square‑foot flex property with five 10’x10’ grade‑level bay doors; 10’–12’ clear heights support a range of industrial operations; 400‑amp, 120/208V 3‑phase power
