Neighborhood Shopping
For Sale
$2,800,000
Pending
583 585 Osuna Rd NE, Albuquerque, NM 87113
C-1 commercial center across from Sandia Preparatory School with established occupants and available space.
Property Size14,160 SF
Days on Market185
Property Features for 583 585 Osuna Rd NE
General Information
Standard status
Pending
Size
14,160 SF
Property subtype
Investment
Zoning
C-1 Neighborhood Commercial Zone
Occupancy
72%
Additional Details
Traffic Count
20,200 vehicles/day
Building Details
Tenancy
Multi
Parking Ratio
5 per 1,000 SF
Listing Agency:
NAI SunVista
(505) 338-9870
Listed By:
Martha Carpenter
(505) 338-9870
Source:
Carnm.resimplifi
Added: Feb 25
Changed: Aug 28
Last Checked: Aug 29 at 5:59AM
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 SunVista
Investment Insights
Based on property information with market context.
The neighborhood shopping center contains 14,160 SF and currently has approximately 4,000 SF available, representing 28% vacancy. Existing occupants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care; each has been at the center since 2011. The property is zoned C-1 Neighborhood Commercial Zone and includes a 5:1,000 parking ratio.
Located at 583 and 585 Osuna Rd NE in Albuquerque, the center sits directly across from Sandia Prep and less than 1/2 mile from the Vista del Norte neighborhood. The site is reported to receive visibility from approximately 20,200 cars per day, providing exposure to passing traffic. The combination of occupied retail space and available area supports continued operation as a neighborhood-serving commercial center.
Located at 583 and 585 Osuna Rd NE in Albuquerque, the center sits directly across from Sandia Prep and less than 1/2 mile from the Vista del Norte neighborhood. The site is reported to receive visibility from approximately 20,200 cars per day, providing exposure to passing traffic. The combination of occupied retail space and available area supports continued operation as a neighborhood-serving commercial center.
Key Highlights
- 14,160 SF neighborhood shopping center at 583 and 585 Osuna Rd NE
- Approximately 4,000 SF available, representing 28% vacancy
- Tenants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care
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
$239,587
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
8.56%
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%
$4,791,740
$4.8M
Cap Rate 7%
$3,422,671
$3.4M
Cap Rate 9%
$2,662,078
$2.7M
Market Conditions
NOI Build-Up for 14,160 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
$339.8K $24.00/SF
− Vacancy
−$20.4K −$1.44/SF
EGI
$319.4K $22.56/SF
− OpEx
−$79.9K −$5.64/SF
NOI
$239.6K $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%
$4,791,740
Cap Rate 7%
$3,422,671
Cap Rate 9%
$2,662,078
Alternative Uses
Best Use
Specialty Retail
$3.42M
$2.99M – $3.99M
NOI $239,587 @ 7.0% cap · market cap 8.56%
Second Best
Retail
$2.91M
$2.54M – $3.39M
NOI $203,543 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,791 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20,200 VPD
Traffic count
72%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 38%
SUBWAY
Dining
2,053 visits/mo
0.1 miles
Extra Space Storage
Shops & Services
1,272 visits/mo
0.3 miles
Demographics for 87113, NM
16,380
Population
7,155
Households
2.3
Avg Household Size
39
Median Age
52%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
1,099
Density / Sq Mi
$92,083
Median Household Income
$59,641
Median Earnings
$1,581
Median Rent
$362,100
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?
Shopping center - C-1 commercial center across from Sandia Preparatory School with established occupants and available space.
Where is this shopping center located?
The property is located at 583 585 Osuna Rd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 14,160 SF neighborhood shopping center at 583 and 585 Osuna Rd NE; Approximately 4,000 SF available, representing 28% vacancy; Tenants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care
