Iconic Restaurant in Nob
For Sale
Contact for pricing
4500 Central Ave SE, Albuquerque, NM 87108
Well-established restaurant on Central Ave in Albuquerque, New Mexico.
Property Size3,862 SF
Price / SF$284.83
Days on Market166
Property Features for 4500 Central Ave SE
General Information
Standard status
Active
Size
3,862 SF
Class
B
Property subtype
Business for Sale, Retail
Zoning
MX-M
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
Absolute Investment Realty LLC
(505) 346-6006
Listed By:
Alfredo Barrenechea · License #NM 19300
Source:
Crexi
Added: Feb 27
Changed: Aug 8
Last Checked: Aug 11 at 10:19AM
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 Absolute Investment Realty LLC
Investment Insights
Based on property information with market context.
This iconic restaurant is located on Central Ave in Albuquerque, New Mexico, specifically in the Nob Hill area, east of Washington Street and west of San Mateo. The property benefits from excellent visibility, strong traffic counts, and easy access. The classic diner-style building is a turnkey restaurant that has been featured in TV shows and movies. The business has operated at this location for over 35 years and is a well-established destination known by locals and visitors. The property size is 3,862 square feet. This location is suitable for conventional restaurants, storefront properties, retail properties, and other commercial real estate ventures. The restaurant presents a turnkey opportunity for an owner-operator or investor.
Key Highlights
- Iconic, turn‑key Nob Hill restaurant location.
- Excellent visibility and strong traffic counts on Central Ave.
- Well‑established business with 35+ years of operation.
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
$65,345
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
5.94%
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%
$1,306,900
$1.3M
Cap Rate 7%
$933,500
$933.5K
Cap Rate 9%
$726,056
$726.1K
Market Conditions
NOI Build-Up for 3,862 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
$92.7K $24.00/SF
− Vacancy
−$5.6K −$1.44/SF
EGI
$87.1K $22.56/SF
− OpEx
−$21.8K −$5.64/SF
NOI
$65.3K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,306,900
Cap Rate 7%
$933,500
Cap Rate 9%
$726,056
Alternative Uses
Best Use
Specialty Retail
$933.5K
$816.8K – $1.09M
NOI $65,345 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,401 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
71k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 44%
Electronics 8%
Dion's Pizza
Dining
15,979 visits/mo
0.1 miles
Circle K
Shops & Services
11,307 visits/mo
0.2 miles
Mister Car Wash
Shops & Services
8,411 visits/mo
0.4 miles
El Taco Tote
Dining
6,966 visits/mo
0.1 miles
Advance Auto Parts
Shops & Services
5,531 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-established restaurant on Central Ave in Albuquerque, New Mexico.
Where is this conventional restaurant located?
The property is located at 4500 Central Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Iconic, turn‑key Nob Hill restaurant location.; Excellent visibility and strong traffic counts on Central Ave.; Well‑established business with 35+ years of operation.
