Four-Unit
New
For Sale
$420,000
630 Alcazar Street SE, Albuquerque, NM 87108
Stable, long-term tenancy in a multifamily property within an evolving Albuquerque corridor.
Property Size2,451 SF
Price / SF$171.36
Days on Market2
Property Features for 630 Alcazar Street SE
General Information
Standard status
Active
Size
2,451 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1971
Listing Agency:
EXP Realty LLC
Listed By:
Tyler Pete · License #tylermp
(505) 264-3082
Source:
Sandisells
Added: Sep 9
Last Checked: Sep 9 at 3:00PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property in Albuquerque provides 2,451 SF of residential space across a quadplex configuration. Constructed in 1971, the building is occupied by stable, long-term residents, supporting an established rental operation.
The property is located at 630 Alcazar Street SE in a corridor experiencing public and private reinvestment. Recent surrounding improvements include a new public library and park, while additional residential and mixed-use development is underway nearby. The property is also offered alongside 632 Alcazar Street, providing a potential opportunity to acquire both addresses together.
The property is located at 630 Alcazar Street SE in a corridor experiencing public and private reinvestment. Recent surrounding improvements include a new public library and park, while additional residential and mixed-use development is underway nearby. The property is also offered alongside 632 Alcazar Street, providing a potential opportunity to acquire both addresses together.
Key Highlights
- Four‑unit multifamily property
- 2,451 SF of residential space
- Built in 1971
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
$22,374
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
5.33%
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%
$447,480
$447.5K
Cap Rate 7%
$319,629
$319.6K
Cap Rate 9%
$248,600
$248.6K
Market Conditions
NOI Build-Up for 2,451 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
$33.8K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.0K $13.04/SF
− OpEx
−$9.6K −$3.91/SF
NOI
$22.4K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /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%
$447,480
Cap Rate 7%
$319,629
Cap Rate 9%
$248,600
Alternative Uses
Best Use
Multifamily LT 5
$319.6K
$279.7K – $372.9K
NOI $22,374 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$295.8K
$258.8K – $345.1K
NOI $20,703 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$592.9K
$518.8K – $691.8K
NOI $41,506 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Stable, long-term tenancy in a multifamily property within an evolving Albuquerque corridor.
Where is this quadplex located?
The property is located at 630 Alcazar Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,451 SF of residential space; Built in 1971
