Albuquerque Office Building for
For Sale
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4010 Montgomery Blvd NE, Albuquerque, NM 87109
Office building available in Albuquerque, New Mexico.
Property Size11,720 SF
Price / SF$327.24
Days on Market149
Property Features for 4010 Montgomery Blvd NE
General Information
Standard status
Active
Size
11,720 SF
Property subtype
Office, Special Purpose, Retail
Zoning
MX-T
Building Details
Year Built
2007
Listing Agency:
Marcus & Millichap - Phoenix
(602) 687-6700
Listed By:
Ryan Sarbinoff · License #AZ BR675146000
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Jul 21 at 8:36AM
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 Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
The property is an office building located in Albuquerque, New Mexico. Albuquerque is the largest and most populous city in New Mexico, with approximately one-fourth of the state’s population. The city serves as a hub for the arts and has an economy based on science, medicine, technology, commerce, education, culture, and entertainment. The property has a size of 11,720 square feet. The building is occupied by Optum, an information and technology-enabled health services business focused on modernizing the health system and improving population health. Optum is part of UnitedHealth Group (NYSE: UNH).
Key Highlights
- Located in Albuquerque, the largest and most populous city in New Mexico.
- Situated in a hub for arts, science, medicine, technology, commerce, education, culture, and entertainment.
- Part of UnitedHealth Group (NYSE: UNH).
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
$155,688
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
4.06%
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%
$3,113,760
$3.1M
Cap Rate 7%
$2,224,114
$2.2M
Cap Rate 9%
$1,729,867
$1.7M
Market Conditions
NOI Build-Up for 11,720 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
$253.2K $21.60/SF
− Vacancy
−$45.6K −$3.89/SF
EGI
$207.6K $17.71/SF
− OpEx
−$51.9K −$4.43/SF
NOI
$155.7K $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%
$3,113,760
Cap Rate 7%
$2,224,114
Cap Rate 9%
$1,729,867
Alternative Uses
Best Use
Office B
$2.22M
$1.95M – $2.59M
NOI $155,688 @ 7.0% cap · market cap 4.06%
Second Best
Healthcare Medical
$2.14M
$1.87M – $2.50M
NOI $149,908 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,471 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,587
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building available in Albuquerque, New Mexico.
Where is this office building located?
The property is located at 4010 Montgomery Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,835,200.
What are key features of this property?
This property features: Located in Albuquerque, the largest and most populous city in New Mexico.; Situated in a hub for arts, science, medicine, technology, commerce, education, culture, and entertainment.; Part of UnitedHealth Group (NYSE: UNH).
