Listing Agency: Keller Williams Realty

Listed By: Anne M Vallejos · License #41997 Show Phone

Source: Albuquerquehomefinders

Added: May 22 Changed: Oct 1 Last Checked: Oct 12 at 8:12PM

Report an Issue

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 Keller Williams Realty

Investment Insights

Based on property information with market context.

This 1588-square-foot flex space at 635 Broadway Boulevard SE in Albuquerque offers a multi-room commercial layout. The interior is arranged with seven rooms, plus a kitchen and bathroom, creating a practical framework for a range of business configurations.

The property is situated within an MX-L commercial zone and is identified as a flex space suitable for commercial use. Its existing room count and built-in kitchen and bathroom provide defined areas for work, support functions, and daily operations without relying on an open-shell layout.

Key Highlights

• 1588 square feet of flex space
• Seven separate rooms within the interior
• Includes a kitchen and bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,120

Cap Rate

6.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$282,400 $282.4K

Cap Rate 7%

$201,714 $201.7K

Cap Rate 9%

$156,889 $156.9K

Market Conditions

NOI Build-Up for 1,588 SF

Gross rent

$22.9K $14.40/SF

− Vacancy

−$1.1K −$0.72/SF

EGI

$21.7K $13.68/SF

− OpEx

−$7.6K −$4.79/SF

NOI

$14.1K $8.89/SF

Area

Albuquerque, NM

Vacancy

5.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$282,400

Cap Rate 7%

$201,714

Cap Rate 9%

$156,889

Alternative Uses

Best Use

Flex RnD

$201.7K

$176.5K – $235.3K (±1% cap)

NOI $14,120 @ 7.0% cap · market cap 6.28%

Second Best

Industrial

$136.5K

$119.4K – $159.2K (±1% cap)

NOI $9,554 @ 7.0% cap · market cap 4.25%

Theoretical Best

Office A

$384.2K

$336.2K – $448.2K (±1% cap)

NOI $26,892 @ 7.0% cap · market cap 11.95%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick HVAC Service Dental Office Locksmith Grocery & Convenience Store Home Appliance Store Pet Grooming Service

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

Location Intelligence

Trade Area within ½ mile

3,427

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 87102, NM

20,610

Population

11,346

Households

1.8

Avg Household Size

38

Median Age

34%

College-Educated

83%

High-School Grad

6.5 sq mi

ZIP Area

3,171

Density / Sq Mi

$37,276

Median Household Income

$29,184

Median Earnings

$868

Median Rent

$174,400

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Open-Plan Flex Space

136 Washington St Unit H, Albuquerque, NM 87108

$215,000

1,200 SF

View details

Flex Space with Fenced Yard

2420 Midtown Place NE #STE E, Albuquerque, NM 87109

$440,000

2,400 SF

View details

Flex Building with Attached Garage

428 SE Chama Street, Albuquerque, NM 87108

$345,000

3,000 SF

View details

Fenced Flex Space with Truck Access

616 Coso Ave, Albuquerque, NM 87105

$1,400,000

2,430 SF

View details

Auto Shop with Heated Garage

2225 4TH Street NW, Albuquerque, NM 87102

$630,000

0.24 Acres

View details

Freestanding Mixed-Use Building

6717 Lomas Blvd. NE, Albuquerque, NM 87110

$450,000

3,500 SF

View details

Flexible Commercial Flex Space

8612 Paseo Alameda Ne B, Albuquerque, NM 87113

$795,000

2,929 SF

View details

Upgraded Cannabis Flex Facility

3804 Montgomery Blvd NE, Albuquerque, NM 87109

$700,000

3,486 SF

View details

Climate-Controlled Flex Space

6119 Hanover Rd, Albuquerque, NM 87121

$969,000

3,230 SF

View details

Remodeled Flex Space with Workshop

301 Wyoming Blvd NE, Albuquerque, NM 87123

$625,000

3,778 SF

View details

Fenced Flex Space With Auto Bays

800 Commercial Street SE, Albuquerque, NM 87102

$600,000

0.85 Acres

View details

Insulated Manufacturing Building

105 Veranda Rd NW, Albuquerque, NM 87107

Contact for pricing

2,250 SF

View details

Similar Off Market Nearby

• City Treats Parties — 1701 4th St SW, Albuquerque, NM 87102
• a lotta enchilada 505 — albuquerque, nm 87102

Frequently Asked Questions

What type of property is this?

Flex space - Commercially zoned interior includes a kitchen, bathroom, and seven separate rooms for adaptable business operations.

Where is this flex space located?

The property is located at 635 Broadway Blvd Albuquerque, NM.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: 1588 square feet of flex space; Seven separate rooms within the interior; Includes a kitchen and bathroom