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 Market30
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: Aug 22 at 5:06PM
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.
This 1588-square-foot flex space at 635 Broadway Boulevard SE offers a multi-room commercial layout with seven rooms, a kitchen, and a bathroom. The configuration provides a range of interior areas within a single frame-constructed building and is suited to businesses seeking adaptable commercial space.
The property occupies 0.16 acres in Albuquerque, Bernalillo County, with a 87102 postal code. Natural gas heating serves the building, and the site is positioned along Broadway Boulevard SE. MX-L commercial zoning and the existing room arrangement are key physical and land-use characteristics of the property.
The property occupies 0.16 acres in Albuquerque, Bernalillo County, with a 87102 postal code. Natural gas heating serves the building, and the site is positioned along Broadway Boulevard SE. MX-L commercial zoning and the existing room arrangement are key physical and land-use characteristics of the property.
Key Highlights
- 1588‑square‑foot multi‑use commercial space
- Seven‑room interior with kitchen and bathroom
- MX‑L commercial zoning
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
$14,120
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
6.28%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Configurable commercial interior with seven rooms, a kitchen, and a bathroom in an MX-L commercial zone.
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: 1588‑square‑foot multi‑use commercial space; Seven‑room interior with kitchen and bathroom; MX‑L commercial zoning
