Office Building with Ample
For Sale
Contact for pricing
500 Oak Street Northeast, Albuquerque, NM 87106
Renovated office building featuring private offices, conference rooms, and multiple restroom facilities with strong highway visibility.
Property Size9,324 SF
Price / SF$233.81
Days on Market56
Property Features for 500 Oak Street Northeast
General Information
Standard status
Active
Size
9,324 SF
Property subtype
Office
Zoning
MX-T
Building Details
Year Renovated
2026
Listing Agency:
NAI Sun Vista
(505) 998-1656
Listed By:
Riley McKee · License #NM 50021AB
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 3:14PM
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 NAI Sun Vista
Investment Insights
Based on property information with market context.
This renovated office building was completed in 2026 and offers a work-ready layout with multiple private offices and conference rooms. The interior configuration includes multiple restrooms, plus a shower, supporting everyday tenant use. The property is enclosed with a fenced perimeter and provides ample parking for staff and visitors.
The building is situated at 500 Oak Street Northeast in Albuquerque, with visibility from northbound I-25 and monument signage on-site. It is also positioned close to the University of New Mexico and nearby healthcare institutions, including Presbyterian and Lovelace Hospitals.
The combination of updated finishes, dedicated office rooms, and meeting space makes the property well-suited for professional services and other office-based operations that require private work areas. Its fenced parking setup can support day-to-day access control, while the I-25 visibility and monument signage help with brand presence for tenants that benefit from drive-by recognition.
The building is situated at 500 Oak Street Northeast in Albuquerque, with visibility from northbound I-25 and monument signage on-site. It is also positioned close to the University of New Mexico and nearby healthcare institutions, including Presbyterian and Lovelace Hospitals.
The combination of updated finishes, dedicated office rooms, and meeting space makes the property well-suited for professional services and other office-based operations that require private work areas. Its fenced parking setup can support day-to-day access control, while the I-25 visibility and monument signage help with brand presence for tenants that benefit from drive-by recognition.
Key Highlights
- Renovation completed in 2026.
- Fenced perimeter with ample parking.
- Multiple private offices plus multiple conference rooms.
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
$123,860
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
5.68%
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%
$2,477,200
$2.5M
Cap Rate 7%
$1,769,429
$1.8M
Cap Rate 9%
$1,376,222
$1.4M
Market Conditions
NOI Build-Up for 9,324 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
$201.4K $21.60/SF
− Vacancy
−$36.3K −$3.89/SF
EGI
$165.1K $17.71/SF
− OpEx
−$41.3K −$4.43/SF
NOI
$123.9K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /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%
$2,477,200
Cap Rate 7%
$1,769,429
Cap Rate 9%
$1,376,222
Alternative Uses
Best Use
Office B
$1.77M
$1.55M – $2.06M
NOI $123,860 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,896 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office building featuring private offices, conference rooms, and multiple restroom facilities with strong highway visibility.
Where is this office building located?
The property is located at 500 Oak Street Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,180,000.
What are key features of this property?
This property features: Renovation completed in 2026.; Fenced perimeter with ample parking.; Multiple private offices plus multiple conference rooms.
