Flex Building with Attached
For Sale
$345,000
428 SE Chama Street, Albuquerque, NM 87108
CommercialSale, Albuquerque, NM
Property Size3,000 SF
Lot Size0.16 Acres
Price / SF$115
Days on Market216
Property Features for 428 SE Chama Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM
Zoning description
R-ML
Parking
6
Parking features
Garage
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 ft Turn right onto Chama St SE. In 413 ft You have arrived at Chama St SE. Your destination is on the left.
Standard status
Active
APN
101905607348722121
Size
3,000 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
* 008 003EMIL MANN
Tax Annual Amount
2180
Legal Description
* 008 003EMIL MANN
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1954
Flooring type
Concrete
Building materials
Frame
Roof type
Flat
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Hayley McInnes · License #REC20260065
(575) 808-2830
Added: Mar 12
Changed: Aug 19
Last Checked: Oct 13 at 4:06PM
MLS# 202600955
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. 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 building includes an attached garage, open interior layout, high ceilings, concrete flooring, and a half bath. Constructed in 1954 with frame materials and a flat roof, the property is being offered in its as-is condition. The configuration supports work-building or storage use as described, with the garage providing additional enclosed space.
The 0.16-acre property is served by public water and public sewer and is zoned RM. Located in Albuquerque's Southeast Heights, it is near locally owned businesses, restaurants, and shopping locations. A practical option for users seeking an adaptable commercial building with garage access and an open floor plan.
The 0.16-acre property is served by public water and public sewer and is zoned RM. Located in Albuquerque's Southeast Heights, it is near locally owned businesses, restaurants, and shopping locations. A practical option for users seeking an adaptable commercial building with garage access and an open floor plan.
Key Highlights
- 3,000‑square‑foot building with attached garage
- 0.16‑acre property in Albuquerque's Southeast Heights
- Open floor plan with high ceilings and concrete flooring
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.
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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 - Open-plan commercial space offers concrete flooring, high ceilings, and an attached garage.
Where is this flex space located?
The property is located at 428 SE Chama Street 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; 0.16‑acre property in Albuquerque's Southeast Heights; Open floor plan with high ceilings and concrete flooring
