585 Osuna Rd NE, Albuquerque, NM 87113

Listing Agency: NAI SunVista - Albuquerque Show Phone

Listed By: Martha Carpenter Show Phone

Source: Moodyscre

Added: Mar 12, 2025 Changed: Nov 8 Last Checked: Nov 8 at 6:27AM

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Investment Insights

Based on property information with market context.

This retail shopping center has an approximate 4,000 SF vacancy, representing about 28% of the center’s total area. Current tenants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care, with tenants reported to have been in place since 2011. The estimated NNN expense is $3.50/SF.

The property is located directly across from Sandia Prep and is less than one-half mile from the Vista del Norte neighborhood. The center is positioned for visibility to an estimated 120,200 cars per day and includes a parking ratio noted as 5:1,000.

Key Highlights

• Vacancy of about 4,000 SF (28%) within a retail center with existing tenants
• Estimated NNN: $3.50/SF
• Tenants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care; tenants in the center since 2011

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$203,543

Cap Rate

7.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,070,860 $4.1M

Cap Rate 7%

$2,907,757 $2.9M

Cap Rate 9%

$2,261,589 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,160 SF

Gross rent

$314.4K $22.20/SF

− Vacancy

−$23.6K −$1.67/SF

EGI

$290.8K $20.54/SF

− OpEx

−$87.2K −$6.16/SF

NOI

$203.5K $14.37/SF

Area

Albuquerque, NM

Vacancy

7.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,070,860

Cap Rate 7%

$2,907,757

Cap Rate 9%

$2,261,589

Alternative Uses

Best Use

Retail

$2.91M

$2.54M – $3.39M (±1% cap)

NOI $203,543 @ 7.0% cap · market cap 7.27%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.43M

$3.00M – $4.00M (±1% cap)

NOI $239,791 @ 7.0% cap · market cap 8.56%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Volcanic Training Gym & Fitness Center Subway Take-out & Catering Amadeo's Pizza & Subs Restaurant Home Instead Home Health Care Service Mary Martinez Home Health Care Service

Suggested Use

Top Pick Nail Salon Real Estate Agency Restaurant Bakery (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

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

Lease Details

20,200 VPD

Traffic count

72%

Occupancy

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

Properties on Market for Shopping centers in Albuquerque

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Albuquerque, NM

7.8% 2019

8.4% 2020

7.9% 2021

4.8% 2022

4.2% 2023

5.7% 2024

5.5% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Includes about 4,000 SF vacant space alongside existing tenants at the center.

Where is this shopping center located?

The property is located at 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: Vacancy of about 4,000 SF (28%) within a retail center with existing tenants; Estimated NNN: $3.50/SF; Tenants include Amadeo’s Pizza, Subway, Volcanic Training, and Home Instead Home Care; tenants in the center since 2011