Upgraded Cannabis Flex
For Sale
$700,000
3804 Montgomery Blvd NE, Albuquerque, NM 87109
Upgraded cannabis-focused flex facility offered with a sale-leaseback structure and MX-M zoning.
Property Size3,486 SF
Price / SF$200.80
Days on Market110
Property Features for 3804 Montgomery Blvd NE
General Information
Standard status
Active
Size
3,486 SF
Total Parking Spaces
35
Property subtype
Investment
Zoning
MX-M
Amenities
Power
Water
Sewer
35 Parking Spaces
Building Details
Year Built
1984
Listing Agency:
Weichert, Realtors - Image
(505) 910-3320
Listed By:
Anthony Marino · License #54204
Source:
Carnm.resimplifi
Added: May 13
Changed: Aug 29
Last Checked: Aug 29 at 8:58PM
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 Weichert, Realtors - Image
Investment Insights
Based on property information with market context.
This cannabis-focused flex facility contains 3,486 square feet and has undergone a full upgrade. The property was built in 1984 and is identified under MX-M zoning. It is being offered for sale with a leaseback structure, creating a transaction format suited to investors evaluating an operating-property arrangement. The asset is located at 3804 Montgomery Blvd NE in Albuquerque, New Mexico. An implied 10% capitalization rate is associated with the offering.
Key Highlights
- 3,486‑square‑foot cannabis‑focused flex facility
- Fully upgraded building
- Sale‑leaseback structure
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
$30,998
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
4.43%
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%
$619,960
$620.0K
Cap Rate 7%
$442,829
$442.8K
Cap Rate 9%
$344,422
$344.4K
Market Conditions
NOI Build-Up for 3,486 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
$50.2K $14.40/SF
− Vacancy
−$2.5K −$0.72/SF
EGI
$47.7K $13.68/SF
− OpEx
−$16.7K −$4.79/SF
NOI
$31.0K $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%
$619,960
Cap Rate 7%
$442,829
Cap Rate 9%
$344,422
Alternative Uses
Best Use
Flex RnD
$442.8K
$387.5K – $516.6K
NOI $30,998 @ 7.0% cap · market cap 4.43%
Second Best
Industrial
$299.6K
$262.2K – $349.6K
NOI $20,974 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$843.3K
$737.9K – $983.9K
NOI $59,033 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 87109, NM
40,740
Population
20,826
Households
2
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
4,074
Density / Sq Mi
$56,295
Median Household Income
$41,798
Median Earnings
$1,112
Median Rent
$298,300
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.
Frequently Asked Questions
What type of property is this?
Cannabis property - Upgraded cannabis-focused flex facility offered with a sale-leaseback structure and MX-M zoning.
Where is this cannabis property located?
The property is located at 3804 Montgomery Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,486‑square‑foot cannabis‑focused flex facility; Fully upgraded building; Sale‑leaseback structure
