Freestanding Office Building in
For Sale
$1,495,000
7000 Prospect Place Northeast, Albuquerque, NM 87110
Freestanding office building with long-term tenant in place.
Property Size8,256 SF
Price / SF$181.08
Days on Market206
Property Features for 7000 Prospect Place Northeast
General Information
Standard status
Active
Size
8,256 SF
Property subtype
Office
Listing Agency:
CBRE | Albuquerque
Listed By:
Marguerite Haverly · License #45209
(505) 837-4902
Source:
Cbre
Added: Mar 25
Changed: Oct 13
Last Checked: Oct 16 at 7:03AM
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 CBRE | Albuquerque
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 7000 Prospect Pl NE is a freestanding office building located in the Uptown submarket of Albuquerque, NM. The building's design allows for single or multi-tenant scenarios. It features shared amenities including a full kitchen/breakroom and an interior courtyard with mature landscaping. The building has secured access and monument signage. Parking is available at a ratio of 5 per 1,000 square feet. The property is located within walking distance to hotels, dining establishments, shopping, entertainment and fitness options. The current tenant, Proud Moments ABA, has a lease commencement date of 7/1/24 with an 88 month term, at $10,664 per month under a modified gross lease structure.
Key Highlights
- Freestanding office building in Uptown Albuquerque with a long‑term tenant.
- Current tenant: Proud Moments ABA, lease commencing 7/1/24 with an 88‑month term, generating $10,664/month.
- Located within walking distance to numerous Uptown amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,673
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,193,460
$2.2M
Cap Rate 7%
$1,566,757
$1.6M
Cap Rate 9%
$1,218,589
$1.2M
Market Conditions
NOI Build-Up for 8,256 SF
Gross rent
$178.3K $21.60/SF
− Vacancy
−$32.1K −$3.89/SF
EGI
$146.2K $17.71/SF
− OpEx
−$36.6K −$4.43/SF
NOI
$109.7K $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 Rate 5%
$2,193,460
Cap Rate 7%
$1,566,757
Cap Rate 9%
$1,218,589
Alternative Uses
Best Use
Office B
$1.57M
$1.37M – $1.83M
NOI $109,673 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,810 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,623
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with long-term tenant in place.
Where is this office building located?
The property is located at 7000 Prospect Place Northeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Freestanding office building in Uptown Albuquerque with a long‑term tenant.; Current tenant: Proud Moments ABA, lease commencing 7/1/24 with an 88‑month term, generating $10,664/month.; Located within walking distance to numerous Uptown amenities.
