Albuquerque Multi-Tenant Retail
For Sale
Contact for pricing
4400 Menaul Blvd NE, Albuquerque, NM 87110
Multi-tenant industrial and retail center in a central location.
Property Size39,030 SF
Lot Size2.15 Acres
Price / SF$84.39
Days on Market170
Property Features for 4400 Menaul Blvd NE
General Information
Standard status
Active
Size
39,030 SF
Lot size
2.15 Acres
Property subtype
Industrial, Retail
Investment Type
Stabilized
Net Operating Income
$263,496
Building Details
Buildings
4
Tenancy
Multi
Listing Agency:
Flanagan Investment Real Estate
(505) 917-5514
Listed By:
Jake Mechenbier · License #NM 48430
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 11 at 10:44AM
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 Flanagan Investment Real Estate
Investment Insights
Based on property information with market context.
The Hill Center, situated at 4400 Menaul Blvd NE and 4417 4421 Towner Ave NE in Albuquerque, NM, is available for sale. This multi-tenant industrial and retail center consists of four buildings in a central location. The property benefits from convenient access to Interstate 40, servicing a wide trade area throughout the city. The buildings, totaling approximately 39,030 square feet, are positioned on roughly 2.15 acres at the corner of Menaul Blvd and Washington St, offering high visibility. The location benefits from traffic counts exceeding 32,000 cars per day. The property includes three large pylon signs and building signage. The Hill Center has a diverse mix of tenants with staggered lease expirations and a history of renewals. Many tenants have rents below current market rates. The property offers significant in-place income with long-term tenants.
Key Highlights
- High‑visibility location at the hard corner of Menaul Blvd and Washington St with traffic counts exceeding 32,000 cars per day.
- Central location with convenient access to Interstate 40 and the entire City of Albuquerque.
- Significant in‑place income with long‑tenured tenants.
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
$267,527
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
8.12%
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%
$5,350,540
$5.4M
Cap Rate 7%
$3,821,814
$3.8M
Cap Rate 9%
$2,972,522
$3.0M
Market Conditions
NOI Build-Up for 39,030 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
$327.9K $8.40/SF
− Vacancy
−$13.1K −$0.34/SF
EGI
$314.7K $8.06/SF
− OpEx
−$47.2K −$1.21/SF
NOI
$267.5K $6.85/SF
Area
Albuquerque, NM
Vacancy
4.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$5,350,540
Cap Rate 7%
$3,821,814
Cap Rate 9%
$2,972,522
Alternative Uses
Best Use
Retail
$8.01M
$7.01M – $9.35M
NOI $561,037 @ 7.0% cap · market cap 17.03%
Second Best
Flex RnD
$4.96M
$4.34M – $5.78M
NOI $347,055 @ 7.0% cap · market cap 10.54%
Theoretical Best
Office A
$9.44M
$8.26M – $11.02M
NOI $660,950 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant industrial and retail center in a central location.
Where is this flex space located?
The property is located at 4400 Menaul Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,293,700.
What are key features of this property?
This property features: High‑visibility location at the hard corner of Menaul Blvd and Washington St with traffic counts exceeding 32,000 cars per day.; Central location with convenient access to Interstate 40 and the entire City of Albuquerque.; Significant in‑place income with long‑tenured tenants.
