Medical Office Building For
For Sale
Contact for pricing
3908 Carlisle Blvd NE, Albuquerque, NM
Free-standing medical office building with established tenant and recent renovations.
Property Size4,821 SF
Lot Size0.36 Acres
Price / SF$213.33
Days on Market743
Property Features for 3908 Carlisle Blvd NE
General Information
Standard status
Active
Size
4,821 SF
Lot size
0.36 Acres
Property subtype
OFFICE
Listing Agency:
Absolute Investment Realty
(505) 346-6006
Listed By:
Alfredo Barrenechea · License #19300
(505) 401-0135
Source:
Moodyscre
Added: Sep 2, 2024
Changed: Aug 15
Last Checked: Sep 13 at 11:16AM
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 Absolute Investment Realty
Investment Insights
Based on property information with market context.
This free-standing medical office building, renovated in 2023, features a NNN lease with an established and experienced tenant. The property includes a personal guaranty and annual rent escalations. The standalone building, totaling approximately 4,821 square feet, is situated on approximately 0.359 acres. Inside, the layout comprises a reception area, 15 large offices, open workspaces, two ADA-compliant restrooms, a conference room, and a break room.
Key Highlights
- Free‑standing medical office building with established & experienced tenant
- NNN lease structure
- Newly renovated in 2023
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
$64,042
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
6.23%
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%
$1,280,840
$1.3M
Cap Rate 7%
$914,886
$914.9K
Cap Rate 9%
$711,578
$711.6K
Market Conditions
NOI Build-Up for 4,821 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
$104.1K $21.60/SF
− Vacancy
−$18.7K −$3.89/SF
EGI
$85.4K $17.71/SF
− OpEx
−$21.3K −$4.43/SF
NOI
$64.0K $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%
$1,280,840
Cap Rate 7%
$914,886
Cap Rate 9%
$711,578
Alternative Uses
Best Use
Office B
$914.9K
$800.5K – $1.07M
NOI $64,042 @ 7.0% cap · market cap 6.23%
Second Best
Healthcare Medical
$880.9K
$770.8K – $1.03M
NOI $61,664 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,641 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,211
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Free-standing medical office building with established tenant and recent renovations.
Where is this medical office space located?
The property is located at 3908 Carlisle Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,028,480.
What are key features of this property?
This property features: Free‑standing medical office building with established & experienced tenant; NNN lease structure; Newly renovated in 2023
