Flex Space 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 Market237
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: Oct 16
Last Checked: Nov 3 at 1:06AM
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.
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Investment Insights
Based on property information with market context.
This 3,000-square-foot flex property has an open floorplan, concrete flooring, a half bath, and an attached garage. The building offers 10-foot clear ceilings and was constructed with a frame structure and flat roof. Its layout supports work or storage functions.
The property occupies 0.16 acres in Albuquerque, New Mexico. Public water and public sewer serve the site. Zoning is RM.
The property occupies 0.16 acres in Albuquerque, New Mexico. Public water and public sewer serve the site. Zoning is RM.
Key Highlights
- 3,000‑square‑foot building on 0.16 acres
- 10‑foot clear ceilings and open floorplan
- Attached garage 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
10 ft
Clear height
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
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - An open interior, concrete flooring, and a half bath support flexible work or storage use.
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 on 0.16 acres; 10‑foot clear ceilings and open floorplan; Attached garage and concrete flooring
