Open-Plan Flex
For Sale
$345,000
428 Chama Street SE, Albuquerque, NM 87108
CommercialSale, Albuquerque, NM
Property Size3,000 SF
Lot Size0.16 Acres
Price / SF$115
Days on Market217
Property Features for 428 Chama Street SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R-ML*
Parking
6
Parking features
Covered
Fencing
Fenced
Directions
Keep left at Interstate Highway 40 E/I-40 E toward Santa Rosa. In 4.8 mi Take exit 164 on the right onto Wyoming Blvd NE. In 0.2 mi Turn right onto Wyoming Blvd NE. In 1.1 mi Turn right onto Central Ave NE. In 1.0 mi Turn left onto Alcazar St SE. In 0.2 mi Turn left onto Zuni Rd SE. In 318 ft Turn left onto Zuni Rd SE. In 318 ftTurn right onto Chama St SE. In 413 ftYou have arrived at Chama St SE. Your destination is on the left.
Subdivision
71 - Southeast Heights
Standard status
Active
APN
101905607348722121
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2180
Building Details
Floors in Building
1
Building materials
Frame, Stucco
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Hayley A McInnes · License #REC20260065
(575) 808-2830
Added: Mar 11
Changed: Aug 19
Last Checked: Oct 13 at 3:06PM
MLS# 1099733
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 3,000-square-foot flex space at 428 Chama Street SE includes an attached garage, half bath, and open interior layout. High ceilings add volume to the building, while frame-and-stucco construction and a covered parking area provide the core physical features. The property is fenced and offered in as-is condition.
The 0.16-acre property is in Albuquerque’s Southeast Heights, near locally owned businesses, restaurants, and shopping locations. Its open configuration and garage support work or storage uses described in the listing information.
The 0.16-acre property is in Albuquerque’s Southeast Heights, near locally owned businesses, restaurants, and shopping locations. Its open configuration and garage support work or storage uses described in the listing information.
Key Highlights
- 3,000‑square‑foot building with attached garage
- Open floorplan with high ceilings
- Half bath included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,676
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,520
$533.5K
Cap Rate 7%
$381,086
$381.1K
Cap Rate 9%
$296,400
$296.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$43.2K $14.40/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$41.0K $13.68/SF
− OpEx
−$14.4K −$4.79/SF
NOI
$26.7K $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 Rate 5%
$533,520
Cap Rate 7%
$381,086
Cap Rate 9%
$296,400
Alternative Uses
Best Use
Flex RnD
$381.1K
$333.5K – $444.6K
NOI $26,676 @ 7.0% cap · market cap 7.73%
Second Best
Warehouse
$293.8K
$257.0K – $342.7K
NOI $20,563 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property with an attached garage, covered parking, and half bath.
Where is this flex space located?
The property is located at 428 Chama Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 3,000‑square‑foot building with attached garage; Open floorplan with high ceilings; Half bath included
