4650 Corrales Road, Corrales, NM 87048

Building Details

Buildings 2 More

Listing Agency: Colliers - Albuquerque, New Mexico

Listed By: Keith Bandoni · License NM #14472 Show Phone

Source: Crexi

Added: Aug 5 Changed: Oct 26 Last Checked: Nov 10 at 5:17AM

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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

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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 / Yr

$21,208

Cap Rate

3.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,160 $424.2K

Cap Rate 7%

$302,971 $303.0K

Cap Rate 9%

$235,644 $235.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,831 SF

Gross rent

$36.3K $19.80/SF

− Vacancy

−$8.0K −$4.36/SF

EGI

$28.3K $15.44/SF

− OpEx

−$7.1K −$3.86/SF

NOI

$21.2K $11.58/SF

Area

Sandoval County, NM

Vacancy

22.00%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,160

Cap Rate 7%

$302,971

Cap Rate 9%

$235,644

Alternative Uses

Best Use

Office B

$303.0K

$265.1K – $353.5K (±1% cap)

NOI $21,208 @ 7.0% cap · market cap 3.86%

Second Best

Retail

$289.3K

$253.1K – $337.5K (±1% cap)

NOI $20,250 @ 7.0% cap · market cap 3.69%

Theoretical Best

Office A

$429.8K

$376.1K – $501.4K (±1% cap)

NOI $30,084 @ 7.0% cap · market cap 5.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Verhoog Wellness Medical Clinic A Healing Approach Massage Alternative Medicine Practice

Suggested Use

Top Pick Big Box & Wholesale Store Hair Salon 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

313

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

Average Price Trend$/SF for Retail space in Sandoval County, NM

$348 Jul

$354 Aug

$354 Sep

$354 Oct

Properties on Market for Retail space in Sandoval County

Jul

Aug

Sep

Oct

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

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