Multi-Room Flex
For Sale
$225,000
635 Broadway Boulevard SE, Albuquerque, NM 87102
CommercialSale, Albuquerque, NM
Property Size1,588 SF
Lot Size0.16 Acres
Price / SF$141.69
Days on Market82
Property Features for 635 Broadway Boulevard SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MX-L*
Parking
1
Directions
1-25 South To Central. West On Central To Broadway. South To Property On The West Hand Side Of The Road.
Subdivision
80 - Downtown Area
Standard status
Active
APN
101405733115931728
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1469
Utilities
Heating system
Natural Gas
Building Details
Floors in Building
1
Building materials
Frame
Listing Agency:
Keller Williams Realty
(505) 897-1100
Listed By:
Anne M Vallejos · License #41997
(505) 331-8306
Added: Jul 24
Changed: Aug 19
Last Checked: Oct 13 at 3:06PM
MLS# 1107979
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.
Located at 635 Broadway Boulevard SE in Albuquerque, this 1,588-square-foot flex space provides a practical multi-room configuration within an MX-L commercial zone. The interior includes 7 rooms, a kitchen, and a bathroom, offering a varied footprint for commercial occupancy and workspace planning.
The building features frame construction and natural gas heating. Its Broadway Boulevard SE address places the property in Albuquerque, New Mexico, with the 87102 postal designation.
The building features frame construction and natural gas heating. Its Broadway Boulevard SE address places the property in Albuquerque, New Mexico, with the 87102 postal designation.
Key Highlights
- 1,588‑square‑foot flex space in Albuquerque
- 7‑room interior configuration
- Kitchen and bathroom included
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
NOI $14,120 @ 7.0% cap · market cap 6.28%
Second Best
Industrial
$136.5K
$119.4K – $159.2K
NOI $9,554 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$384.2K
$336.2K – $448.2K
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
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- City Treats Parties — 1701 4th St SW, Albuquerque, NM 87102
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Frequently Asked Questions
What type of property is this?
Flex space - MX-L-zoned commercial space includes a kitchen, bathroom, and adaptable room layout.
Where is this flex space located?
The property is located at 635 Broadway Boulevard SE 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: 1,588‑square‑foot flex space in Albuquerque; 7‑room interior configuration; Kitchen and bathroom included
