Flex Space with
For Sale
$969,000
6119 HANOVER Road NW, Albuquerque, NM 87121
CommercialSale, Albuquerque, NM
Property Size3,230 SF
Lot Size0.84 Acres
Price / SF$300
Days on Market495
Property Features for 6119 HANOVER Road NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
NR-C*
Parking
8
Directions
I40 West to Coors, South on Coors. West on Hanover to property.
Subdivision
111 - Ladera Heights
Standard status
Active
APN
101105800849522402
Lot size
0.84 Acres
Taxes and HOA fees
Tax Annual Amount
8260
Building Details
Floors in Building
1
Building materials
MetalFrame
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Alexis Pinter · License #20510
(505) 261-4969
Added: Jun 6, 2025
Changed: Sep 3
Last Checked: Oct 13 at 3:06PM
MLS# 1085899
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in Dec 2021, this flex property contains a 3,230-square-foot metal-frame building on a 0.84-acre fenced lot. The interior is divided between 818 square feet of finished office space and 2,412 square feet of warehouse area, providing a practical mix of administrative and operational space.
The building includes two bathrooms, a kitchenette, HVAC, odor control, and two roll-up doors. Electrical service includes 3-phase, 400-amp power, and the property has city water. Located in Albuquerque, the site offers an industrial configuration with secured outdoor area surrounding the building.
The building includes two bathrooms, a kitchenette, HVAC, odor control, and two roll-up doors. Electrical service includes 3-phase, 400-amp power, and the property has city water. Located in Albuquerque, the site offers an industrial configuration with secured outdoor area surrounding the building.
Key Highlights
- 3,230 SF metal‑frame building completed in Dec 2021
- 818 SF of finished office space and 2,412 SF of warehouse space
- 0.84‑acre fenced lot in Albuquerque
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,012
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,240
$680.2K
Cap Rate 7%
$485,886
$485.9K
Cap Rate 9%
$377,911
$377.9K
Market Conditions
NOI Build-Up for 3,230 SF
Gross rent
$58.1K $18.00/SF
− Vacancy
−$12.8K −$3.96/SF
EGI
$45.3K $14.04/SF
− OpEx
−$11.3K −$3.51/SF
NOI
$34.0K $10.53/SF
Area
ZIP 87121
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,240
Cap Rate 7%
$485,886
Cap Rate 9%
$377,911
Alternative Uses
Best Use
Office B
$485.9K
$425.2K – $566.9K
NOI $34,012 @ 7.0% cap · market cap 3.51%
Second Best
Flex RnD
$406.0K
$355.2K – $473.7K
NOI $28,419 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$656.6K
$574.5K – $766.1K
NOI $45,963 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87121, NM
77,802
Population
26,118
Households
3
Avg Household Size
31
Median Age
13%
College-Educated
80%
High-School Grad
336.9 sq mi
ZIP Area
231
Density / Sq Mi
$59,184
Median Household Income
$34,738
Median Earnings
$1,277
Median Rent
$192,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combines finished office areas with functional warehouse space and substantial electrical capacity.
Where is this flex space located?
The property is located at 6119 HANOVER Road NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: 3,230 SF metal‑frame building completed in Dec 2021; 818 SF of finished office space and 2,412 SF of warehouse space; 0.84‑acre fenced lot in Albuquerque
