Two-Story Multi-Tenant Flex
For Sale
Contact for pricing
4500 Alexander Blvd NE, Albuquerque, NM 87107
Two-story multi-tenant flex building offers substantial on-site parking on a multi-acre site in Albuquerque’s North I-25 submarket.
Property Size101,604 SF
Lot Size7.82 Acres
Price / SF$184.05
Days on Market926
Property Features for 4500 Alexander Blvd NE
General Information
Standard status
Active
Size
101,604 SF
Total Parking Spaces
432
Lot size
7.82 Acres
Property subtype
FLEX_R_AND_D
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
REA Real Estate Advisors
(505) 539-3201
Listed By:
Tom Jenkins CCIM SIOR
(505) 238-5318
Source:
Moodyscre
Added: Mar 8, 2024
Changed: Sep 8
Last Checked: Sep 20 at 12:13PM
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 REA Real Estate Advisors
Investment Insights
Based on property information with market context.
4500 Alexander is a two-story, 101,604 rentable-square-foot multi-tenant flex building designed to support a range of commercial uses. The property sits on 7.82 acres and provides approximately 432 parking spaces for tenants and visitors.
The building is located in the Renaissance Business Center within Albuquerque’s North I-25 submarket. It is positioned about two blocks from the intersection of I-25 and Montgomery/Montano Blvd, placing it near a concentration of employment and retail activity.
The area’s retail presence includes Costco, Sam’s Club, Home Depot, PetsMart, REI, and Top Golf, supporting strong day-to-day access for customers and employees.
The building is located in the Renaissance Business Center within Albuquerque’s North I-25 submarket. It is positioned about two blocks from the intersection of I-25 and Montgomery/Montano Blvd, placing it near a concentration of employment and retail activity.
The area’s retail presence includes Costco, Sam’s Club, Home Depot, PetsMart, REI, and Top Golf, supporting strong day-to-day access for customers and employees.
Key Highlights
- 101,604 rentable SF, 2‑story multi‑tenant flex building in Albuquerque, NM
- Located on 7.82 acres with approximately 432 parking spaces
- Opportunity Zone property in Albuquerque’s North I‑25 submarket
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
$903,463
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
4.83%
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%
$18,069,260
$18.1M
Cap Rate 7%
$12,906,614
$12.9M
Cap Rate 9%
$10,038,478
$10.0M
Market Conditions
NOI Build-Up for 101,604 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
$1.46M $14.40/SF
− Vacancy
−$73.2K −$0.72/SF
EGI
$1.39M $13.68/SF
− OpEx
−$486.5K −$4.79/SF
NOI
$903.5K $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 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%
$18,069,260
Cap Rate 7%
$12,906,614
Cap Rate 9%
$10,038,478
Alternative Uses
Best Use
Flex RnD
$12.91M
$11.29M – $15.06M
NOI $903,463 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$8.73M
$7.64M – $10.19M
NOI $611,300 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$24.58M
$21.51M – $28.68M
NOI $1,720,603 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
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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Similar Off Market Nearby
- Gourmet To Go Catering — 4003 Carlisle Blvd NE, Albuquerque, NM 87107
Frequently Asked Questions
What type of property is this?
Flex space - Two-story multi-tenant flex building offers substantial on-site parking on a multi-acre site in Albuquerque’s North I-25 submarket.
Where is this flex space located?
The property is located at 4500 Alexander Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $18,700,000.
What are key features of this property?
This property features: 101,604 rentable SF, 2‑story multi‑tenant flex building in Albuquerque, NM; Located on 7.82 acres with approximately 432 parking spaces; Opportunity Zone property in Albuquerque’s North I‑25 submarket
