Flex Space with Warehouse
For Sale
$799,900
3821 Commercial Street NE, Albuquerque, NM 87107
CommercialSale, Albuquerque, NM
Property Size5,357 SF
Lot Size0.64 Acres
Price / SF$149.32
Days on Market194
Property Features for 3821 Commercial Street NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M-1
Parking
3
Security features
Security
Directions
West on Candelaria from I-25. North on Commercial to property.
Subdivision
101 - Near North Valley
Standard status
Active
APN
101506004014130812
Lot size
0.64 Acres
Taxes and HOA fees
Tax Annual Amount
18016
Utilities
Cooling system
Multi Units
Amenities
pond
pool
hot tub
RV site with dump
secure vault
loading area
Building Details
Floors in Building
1
Building materials
Block, Frame
Listing Agency:
The Maez Group
(505) 718-4980
Listed By:
Joseph E Maez · License #17921
(505) 515-1719
Added: Feb 9
Changed: Aug 21
Last Checked: Aug 22 at 10:06AM
MLS# 1098049
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,357-square-foot flex property includes three warehouse areas, a secure vault, and approximately 2,325+/- square feet of office and living space. The improvements use block and frame construction and include multi-unit cooling. A designated loading and unloading area, ample parking, and an RV site with dump support the property’s functional layout.
Set on 0.64 acres at 3821 Commercial Street NE in Albuquerque, the M-1 property also features a pond, pool, and hot tub. The site is on a quiet street with access to the Big I, combining industrial workspace with additional on-site amenities.
Set on 0.64 acres at 3821 Commercial Street NE in Albuquerque, the M-1 property also features a pond, pool, and hot tub. The site is on a quiet street with access to the Big I, combining industrial workspace with additional on-site amenities.
Key Highlights
- 5,357 sq ft flex property on 0.64 acres
- Three warehouse spaces plus a secure vault
- Approximately 2,325+/- sq ft of office and living areas
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
$71,162
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
8.90%
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%
$1,423,240
$1.4M
Cap Rate 7%
$1,016,600
$1.0M
Cap Rate 9%
$790,689
$790.7K
Market Conditions
NOI Build-Up for 5,357 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
$115.7K $21.60/SF
− Vacancy
−$20.8K −$3.89/SF
EGI
$94.9K $17.71/SF
− OpEx
−$23.7K −$4.43/SF
NOI
$71.2K $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%
$1,423,240
Cap Rate 7%
$1,016,600
Cap Rate 9%
$790,689
Alternative Uses
Best Use
Office B
$1.02M
$889.5K – $1.19M
NOI $71,162 @ 7.0% cap · market cap 8.90%
Second Best
Flex RnD
$680.5K
$595.4K – $793.9K
NOI $47,634 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,718 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
844
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 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?
Flex space - M-1 property combines warehouse capacity, office areas, loading support, and on-site recreational amenities.
Where is this flex space located?
The property is located at 3821 Commercial Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 5,357 sq ft flex property on 0.64 acres; Three warehouse spaces plus a secure vault; Approximately 2,325+/- sq ft of office and living areas
