Flex Space with Lab and
For Sale
$1,619,000
6901 Gruber Ave NE, Albuquerque, NM 87109
Office, laboratory, and warehouse areas combine with dock access and high-capacity electrical service.
Property Size8,127 SF
Price / SF$199.21
Days on Market60
Property Features for 6901 Gruber Ave NE
General Information
Standard status
Active
Size
8,127 SF
Property subtype
Industrial
Zoning
NR-LM
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
2
Drive-In Doors
1
Power
400 amps
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Listing Agency:
NAI SunVista
(505) 480-9777
Listed By:
Clay Azar
(505) 480-9777
Source:
Carnm.resimplifi
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 29 at 7:24PM
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 NAI SunVista
Investment Insights
Based on property information with market context.
This 8,127-square-foot flex property combines office, laboratory, and warehouse functionality within a single commercial space. The warehouse includes 2 dock-high doors, 1 grade-level door, and an 18-foot ceiling. Electrical service includes 400-amp, 3-phase power, while the laboratory area is equipped with chemical fumigation hoods. Ample parking is also provided.
The property is located at 6901 Gruber Ave NE in Albuquerque, one block from the I-25 Frontage Rd. and near Osuna Rd. Zoning is NR-LM, supporting the property's flex-oriented commercial configuration.
The property is located at 6901 Gruber Ave NE in Albuquerque, one block from the I-25 Frontage Rd. and near Osuna Rd. Zoning is NR-LM, supporting the property's flex-oriented commercial configuration.
Key Highlights
- 8,127 SF flex space with office, lab, and warehouse areas
- 2 dock‑high doors and 1 grade‑level door
- 400‑amp, 3‑phase power
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
$107,959
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
6.67%
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%
$2,159,180
$2.2M
Cap Rate 7%
$1,542,271
$1.5M
Cap Rate 9%
$1,199,544
$1.2M
Market Conditions
NOI Build-Up for 8,127 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
$175.5K $21.60/SF
− Vacancy
−$31.6K −$3.89/SF
EGI
$143.9K $17.71/SF
− OpEx
−$36.0K −$4.43/SF
NOI
$108.0K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,159,180
Cap Rate 7%
$1,542,271
Cap Rate 9%
$1,199,544
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,959 @ 7.0% cap · market cap 6.67%
Second Best
Flex RnD
$1.03M
$903.3K – $1.20M
NOI $72,265 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,626 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,912
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87109, NM
40,740
Population
20,826
Households
2
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
4,074
Density / Sq Mi
$56,295
Median Household Income
$41,798
Median Earnings
$1,112
Median Rent
$298,300
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 - Office, laboratory, and warehouse areas combine with dock access and high-capacity electrical service.
Where is this flex space located?
The property is located at 6901 Gruber Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,619,000.
What are key features of this property?
This property features: 8,127 SF flex space with office, lab, and warehouse areas; 2 dock‑high doors and 1 grade‑level door; 400‑amp, 3‑phase power
