Professional Office Building with Flex
For Sale
Contact for pricing
Pending
3711 Eubank Blvd NE, Albuquerque, NM 87111
Former dental office offers reception, offices, exam rooms, and multiple restrooms with parking and Eubank frontage.
Property Size2,932 SF
Days on Market65
Property Features for 3711 Eubank Blvd NE
General Information
Standard status
Pending
Size
2,932 SF
Class
C
Total Parking Spaces
20
Property subtype
Office
Zoning
Mixed Use Transition
Lease Type
Modified Gross
Investment Type
Owner/User
Additional Details
Road Access
Yes
Office Units
2
Building Details
Year Built
1987
Listing Agency:
eXp Realty, LLC Albuquerque
Listed By:
Ron Hensley · License #NM 18396
Source:
Crexi
Added: Jul 3
Changed: Aug 8
Last Checked: Jul 28 at 4:37AM
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 eXp Realty, LLC Albuquerque
Investment Insights
Based on property information with market context.
This professional office building was previously designed as a dental office and features a highly functional floor plan suitable for a range of professional uses. The interior includes a spacious reception area, multiple private offices and exam/treatment rooms, conference/training space, a break room, multiple restrooms, and abundant storage. A full crawl space provides convenient access to utilities and can support future remodeling or reconfiguration. The flexible layout can also be divided into two suites, supporting options to occupy one side while leasing the other, or to lease the entire building to a single tenant.
The property offers excellent frontage along Eubank Boulevard and includes monument signage, supporting visibility to traffic in an established professional corridor. Ample on-site parking is available for staff and visitors.
Included with the sale is an adjacent parcel to the south, adding approximately 7,884 SF of additional land that may be used for expanded parking, future building expansion, or redevelopment. The property is available for both sale and lease.
The property offers excellent frontage along Eubank Boulevard and includes monument signage, supporting visibility to traffic in an established professional corridor. Ample on-site parking is available for staff and visitors.
Included with the sale is an adjacent parcel to the south, adding approximately 7,884 SF of additional land that may be used for expanded parking, future building expansion, or redevelopment. The property is available for both sale and lease.
Key Highlights
- Former dental office built in 1987 with a professional layout designed for reception, offices, and exam/treatment rooms.
- Flexible interior includes private offices, conference/training space, break room, multiple restrooms, and abundant storage.
- Can be divided into two suites for an owner‑user setup (occupy one side, lease the other) or leased as one unit.
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
$39,598
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
6.09%
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%
$791,960
$792.0K
Cap Rate 7%
$565,686
$565.7K
Cap Rate 9%
$439,978
$440.0K
Market Conditions
NOI Build-Up for 2,932 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
$72.1K $24.60/SF
− Vacancy
−$6.1K −$2.09/SF
EGI
$66.0K $22.51/SF
− OpEx
−$26.4K −$9.00/SF
NOI
$39.6K $13.51/SF
Area
ZIP 87111
Vacancy
8.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
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%
$791,960
Cap Rate 7%
$565,686
Cap Rate 9%
$439,978
Alternative Uses
Best Use
Healthcare Medical
$565.7K
$495.0K – $660.0K
NOI $39,598 @ 7.0% cap · market cap 6.09%
Second Best
Office B
$536.1K
$469.1K – $625.4K
NOI $37,524 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$688.2K
$602.2K – $802.9K
NOI $48,174 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 87111, NM
56,121
Population
28,192
Households
2
Avg Household Size
45
Median Age
56%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
4,419
Density / Sq Mi
$84,511
Median Household Income
$52,350
Median Earnings
$1,310
Median Rent
$349,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former dental office offers reception, offices, exam rooms, and multiple restrooms with parking and Eubank frontage.
Where is this medical office space located?
The property is located at 3711 Eubank Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Former dental office built in 1987 with a professional layout designed for reception, offices, and exam/treatment rooms.; Flexible interior includes private offices, conference/training space, break room, multiple restrooms, and abundant storage.; Can be divided into two suites for an owner‑user setup (occupy one side, lease the other) or leased as one unit.
