Historic District
For Sale
$1,100,000
423 San Felipe St NW, Albuquerque, NM 87104
Surrounded by retailers and amenities in Albuquerque’s centrally situated Old Town district.
Property Size2,742 SF
Price / SF$401.17
Days on Market650
Property Features for 423 San Felipe St NW
General Information
Standard status
Active
Size
2,742 SF
Property subtype
Retail
Listing Agency:
SVN / Walt Arnold Commercial Brokerage, Inc.
Listed By:
Walt Arnold · License #9117
(505) 269-9358
Source:
Carnm.resimplifi
Added: Jan 1, 2025
Changed: Sep 28
Last Checked: Oct 12 at 4:46PM
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 SVN / Walt Arnold Commercial Brokerage, Inc.
Investment Insights
Based on property information with market context.
This retail building is located at 423 San Felipe St NW in Albuquerque’s Old Town area. The property is within a designated Historical District and is surrounded by retailers and other amenities, placing it in an established commercial setting. A listed property size of 2742 provides a defined physical footprint for the storefront asset. The surrounding retail environment and reported consumer activity add relevant context for businesses evaluating this location.
Key Highlights
- Retail building in Albuquerque’s Old Town area
- Located within a Historical District
- Surrounded by retailers and other amenities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,415
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,300
$788.3K
Cap Rate 7%
$563,071
$563.1K
Cap Rate 9%
$437,944
$437.9K
Market Conditions
NOI Build-Up for 2,742 SF
Gross rent
$60.9K $22.20/SF
− Vacancy
−$4.6K −$1.67/SF
EGI
$56.3K $20.54/SF
− OpEx
−$16.9K −$6.16/SF
NOI
$39.4K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,300
Cap Rate 7%
$563,071
Cap Rate 9%
$437,944
Alternative Uses
Best Use
Retail
$563.1K
$492.7K – $656.9K
NOI $39,415 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.3K
$580.4K – $773.9K
NOI $46,434 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,381
Businesses Nearby
97k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 18%
Beauty & Spa 2%
Hotels & Casinos 1%
Starbucks
Dining
29,064 visits/mo
0.5 miles
McDonald's
Dining
19,913 visits/mo
0.3 miles
Speedway
Shops & Services
17,765 visits/mo
0.5 miles
Wendy's
Dining
11,984 visits/mo
0.3 miles
Blake's LotaBurger
Dining
10,953 visits/mo
0.3 miles
Demographics for 87104, NM
12,537
Population
6,628
Households
1.9
Avg Household Size
43
Median Age
48%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
2,985
Density / Sq Mi
$67,714
Median Household Income
$55,156
Median Earnings
$1,022
Median Rent
$300,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albuquerque, NM
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- Estella Flowers and Gift Shop — 1909 Bellamah Ave NW, Albuquerque, NM 87104
Frequently Asked Questions
What type of property is this?
Storefront property - Surrounded by retailers and amenities in Albuquerque’s centrally situated Old Town district.
Where is this storefront property located?
The property is located at 423 San Felipe St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Retail building in Albuquerque’s Old Town area; Located within a Historical District; Surrounded by retailers and other amenities
