Freestanding Brick Flex
For Sale
$450,000
6717 LOMAS Boulevard NE, Albuquerque, NM 87110
CommercialSale, Albuquerque, NM
Property Size3,500 SF
Lot Size0.19 Acres
Price / SF$128.57
Days on Market556
Property Features for 6717 LOMAS Boulevard NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MX-M*
Parking
10
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Directions
From Louisiana NE, West on Lomas to property on the corner of Georgia and Lomas on the north side of Lomas.
Subdivision
70 - Fairgrounds
Standard status
Active
APN
101805842201440503
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6711
Utilities
Heating system
Natural Gas
Amenities
monument signage
fenced outdoor area
Building Details
Floors in Building
1
Building materials
Brick
Listing Agency:
Limitless Realty, LLC
(505) 933-8888
Listed By:
Jennifer A Souhrada · License #38801
(505) 321-6796
Added: Feb 14, 2025
Changed: Aug 19
Last Checked: Aug 24 at 10:06AM
MLS# 1092523
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 freestanding 3,500-square-foot flex property is constructed of brick and arranged for varied business functions. The interior includes multiple offices and workstations, warehouse and storage areas, and two restrooms. A newer roof, front awning, updated storefront windows, natural-gas heating, and an accessible approach with ramp add to the building’s functional improvements.
The property occupies a 0.19-acre corner lot on Lomas Boulevard NE, directly across from the Fairgrounds. Daily traffic is reported at more than 25,000 vehicles, and the site includes monument signage and parking for up to 10 vehicles. A fenced outdoor area extends the usable site area, while mixed-use zoning permits on-site living according to the property information.
The property occupies a 0.19-acre corner lot on Lomas Boulevard NE, directly across from the Fairgrounds. Daily traffic is reported at more than 25,000 vehicles, and the site includes monument signage and parking for up to 10 vehicles. A fenced outdoor area extends the usable site area, while mixed-use zoning permits on-site living according to the property information.
Key Highlights
- 3,500 SF brick flex building with multiple offices, workstations, storage, and warehouse space
- 0.19‑acre corner lot on Lomas Boulevard NE across from the Fairgrounds
- Reported daily traffic exceeding 25,000 vehicles
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
$31,122
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
6.92%
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%
$622,440
$622.4K
Cap Rate 7%
$444,600
$444.6K
Cap Rate 9%
$345,800
$345.8K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$2.5K −$0.72/SF
EGI
$47.9K $13.68/SF
− OpEx
−$16.8K −$4.79/SF
NOI
$31.1K $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%
$622,440
Cap Rate 7%
$444,600
Cap Rate 9%
$345,800
Alternative Uses
Best Use
Office B
$664.2K
$581.2K – $774.9K
NOI $46,494 @ 7.0% cap · market cap 10.33%
Second Best
Flex RnD
$444.6K
$389.0K – $518.7K
NOI $31,122 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$846.7K
$740.9K – $987.8K
NOI $59,270 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87110, NM
38,441
Population
19,591
Households
2
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
4,368
Density / Sq Mi
$63,593
Median Household Income
$40,244
Median Earnings
$1,096
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with office, warehouse, storage, and fenced outdoor components under mixed-use zoning.
Where is this flex space located?
The property is located at 6717 LOMAS Boulevard NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,500 SF brick flex building with multiple offices, workstations, storage, and warehouse space; 0.19‑acre corner lot on Lomas Boulevard NE across from the Fairgrounds; Reported daily traffic exceeding 25,000 vehicles
