Mixed-Use Building with
For Sale
$439,900
3612 Campus Boulevard NE, Albuquerque, NM 87106
MX-T-zoned property accommodates professional office, light retail, and live-work uses.
Property Size1,298 SF
Price / SF$338.91
Days on Market8
Property Features for 3612 Campus Boulevard NE
General Information
Standard status
Active
Size
1,298 SF
Zoning
MX-T
Amenities
refinished hardwood floors
new thermal pane windows
reception area
private office or conference spaces
partial kitchen
full bathroom
power-gated alley access
two-car garage
storage building
Listing Agency:
RealABQ
Listed By:
Joseph LaMastra
Source:
Thesouthwestlife
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 25 at 8:51AM
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 RealABQ
Investment Insights
Based on property information with market context.
This 1,298-square-foot mixed-use building at 3612 Campus Blvd includes a reception area, three large private office or conference rooms, a partial kitchen, and a full bathroom. Refinished hardwood flooring, new thermal pane windows installed in 2023, and HVAC updates completed in 2020 are among the improvements. The flat roof section was replaced in 2025.
The property is situated in Nob Hill and offers parking at both the front and rear. Additional site features include power-gated alley access, a two-car garage, and a 10' X 20' storage building. Zoned MX-T, the building is described as suitable for professional office, light retail, and live-work use.
The property is situated in Nob Hill and offers parking at both the front and rear. Additional site features include power-gated alley access, a two-car garage, and a 10' X 20' storage building. Zoned MX-T, the building is described as suitable for professional office, light retail, and live-work use.
Key Highlights
- 1,298‑square‑foot mixed‑use building in Nob Hill
- MX‑T zoning with professional office, light retail, and live‑work use
- Reception area, 3 private office or conference spaces, partial kitchen, and full bathroom
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
$17,243
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
3.92%
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%
$344,860
$344.9K
Cap Rate 7%
$246,329
$246.3K
Cap Rate 9%
$191,589
$191.6K
Market Conditions
NOI Build-Up for 1,298 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
$28.0K $21.60/SF
− Vacancy
−$5.0K −$3.89/SF
EGI
$23.0K $17.71/SF
− OpEx
−$5.7K −$4.43/SF
NOI
$17.2K $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%
$344,860
Cap Rate 7%
$246,329
Cap Rate 9%
$191,589
Alternative Uses
Best Use
Office B
$246.3K
$215.5K – $287.4K
NOI $17,243 @ 7.0% cap · market cap 3.92%
Second Best
Mixed Use
$225.3K
$197.1K – $262.9K
NOI $15,771 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$314.0K
$274.8K – $366.4K
NOI $21,981 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - MX-T-zoned property accommodates professional office, light retail, and live-work uses.
Where is this mixed-use property located?
The property is located at 3612 Campus Boulevard NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 1,298‑square‑foot mixed‑use building in Nob Hill; MX‑T zoning with professional office, light retail, and live‑work use; Reception area, 3 private office or conference spaces, partial kitchen, and full bathroom
