Retail Strip Center with Leased
For Sale
$745,000
6101 Menaul Blvd NE, Albuquerque, NM 87110
Mixed-use retail property with five leased suites, prominent signage, parking, and recent building improvements.
Property Size4,158 SF
Lot Size0.20 Acres
Price / SF$179.17
Days on Market316
Property Features for 6101 Menaul Blvd NE
General Information
Standard status
Active
Size
4,158 SF
Lot size
0.20 Acres
Property subtype
Retail
Zoning
MX-M
Financials
Asking Price
$745,000
Cap Rate
7.2%
Additional Details
Corner Location
Yes
Building Details
Year Built
1959
Tenancy
Multi
Listing Agency:
Johnson Commercial Real Estate
(505) 831-3333
Listed By:
Ed Anlian · License #14869
(505) 831-3333
Source:
Carnm.resimplifi
Added: Oct 18, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:53AM
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 Johnson Commercial Real Estate
Investment Insights
Based on property information with market context.
This 4,158-square-foot retail property was built in 1959 and is arranged as a strip center with five leased suites. The property includes street signage, on-site and street parking, a new TPO roof, and flooring upgrades. MX-M zoning supports mixed-use, moderate-intensity development.
The property occupies approximately 0.2 acres at the corner of Menaul Boulevard and Arizona Street, directly across from Coronado Center. It is situated in Albuquerque’s Uptown sub-market, with nearby amenities and established commercial surroundings.
The property occupies approximately 0.2 acres at the corner of Menaul Boulevard and Arizona Street, directly across from Coronado Center. It is situated in Albuquerque’s Uptown sub-market, with nearby amenities and established commercial surroundings.
Key Highlights
- 4,158± SF retail property on 0.2± acres
- Five leased suites in a strip‑center configuration
- MX‑M zoning: Mixed Use Moderate Intensity
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
$59,769
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
8.02%
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%
$1,195,380
$1.2M
Cap Rate 7%
$853,843
$853.8K
Cap Rate 9%
$664,100
$664.1K
Market Conditions
NOI Build-Up for 4,158 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
$92.3K $22.20/SF
− Vacancy
−$6.9K −$1.67/SF
EGI
$85.4K $20.54/SF
− OpEx
−$25.6K −$6.16/SF
NOI
$59.8K $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 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%
$1,195,380
Cap Rate 7%
$853,843
Cap Rate 9%
$664,100
Alternative Uses
Best Use
Retail
$853.8K
$747.1K – $996.2K
NOI $59,769 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$880.2K – $1.17M
NOI $70,413 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,733
Businesses Nearby
437k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Apparel 39%
Shops & Services 14%
Office Supplies 3%
JCPenney
Apparel
73,828 visits/mo
0.3 miles
Macy's
Apparel
69,947 visits/mo
0.2 miles
The Cheesecake Factory
Dining
60,058 visits/mo
0.4 miles
McDonald's
Dining
41,029 visits/mo
0.0 miles
Panera Bread
Dining
27,541 visits/mo
0.5 miles
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
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?
Strip mall - Mixed-use retail property with five leased suites, prominent signage, parking, and recent building improvements.
Where is this strip mall located?
The property is located at 6101 Menaul Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 4,158± SF retail property on 0.2± acres; Five leased suites in a strip‑center configuration; MX‑M zoning: Mixed Use Moderate Intensity
