Building Details

Buildings 2

Listing Agency: Colliers - Albuquerque, New Mexico Show Phone

Listed By: Keith Bandoni · License #NM 14472

Source: Crexi

Added: Aug 5 Changed: Aug 10 Last Checked: Aug 10 at 4:11AM

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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 Colliers - Albuquerque, New Mexico

Investment Insights

Based on property information with market context.

This retail space is located at 4650 Corrales Road in Corrales, New Mexico. The property carries C zoning and has a listed property size of 1831. Its retail classification provides a clear basis for evaluating the site for retail occupancy or acquisition.

Key Highlights

• C zoning
• 4650 Corrales Road, Corrales, NM 87048
• Listed property size of 1831

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

$21,752

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

3.96%

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%

$435,040 $435.0K

Cap Rate 7%

$310,743 $310.7K

Cap Rate 9%

$241,689 $241.7K

Market Conditions

NOI Build-Up for 1,831 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

$36.3K $19.80/SF

− Vacancy

−$7.3K −$3.96/SF

EGI

$29.0K $15.84/SF

− OpEx

−$7.3K −$3.96/SF

NOI

$21.8K $11.88/SF

Area

Sandoval County, NM

Vacancy

20.00%

Lease Rate

$19.80 /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%

$435,040

Cap Rate 7%

$310,743

Cap Rate 9%

$241,689

Alternative Uses

Best Use

Office B

$310.7K

$271.9K – $362.5K (±1% cap)

NOI $21,752 @ 7.0% cap · market cap 3.96%

Second Best

Retail

$223.6K

$195.6K – $260.8K (±1% cap)

NOI $15,650 @ 7.0% cap · market cap 2.85%

Theoretical Best

Office A

$372.2K

$325.7K – $434.3K (±1% cap)

NOI $26,055 @ 7.0% cap · market cap 4.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Verhoog Wellness Medical Clinic A Healing Approach Massage Alternative Medicine Practice

Suggested Use

Top Pick Hair Salon Big Box & Wholesale Store Parking Lot & Garage Building Supply Storage Facility Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Explore this area Business Placement

Demographics for 87048, NM

8,888

Population

4,079

Households

2.2

Avg Household Size

58

Median Age

51%

College-Educated

96%

High-School Grad

11.0 sq mi

ZIP Area

808

Density / Sq Mi

$112,716

Median Household Income

$53,479

Median Earnings

$1,184

Median Rent

$552,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space on Corrales Road with C zoning in Corrales, New Mexico.

Where is this retail space located?

The property is located at 4650 Corrales Road Corrales, NM.

What is the asking price?

The asking price for this property is $549,000.

What are key features of this property?

This property features: C zoning; 4650 Corrales Road, Corrales, NM 87048; Listed property size of 1831