Freestanding Office Building in
7000 Prospect Place Northeast Albuquerque, NM 87110
For Sale
$1,495,000
Freestanding office building with long-term tenant in place.
Property Size8,256 SF
Price / SF$181.08
Days on Market127
Property Features for 7000 Prospect Place Northeast
General Information
Standard status
Active
Size
8,256 SF
Property subtype
Office
Listing Agency:
CBRE | Albuquerque
(505) 837-4902
Listed By:
Marguerite Haverly
(505) 837-4902
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 29 at 5:12AM
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
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $178.3k | $21.60 |
| − Vacancy | −$32.1k | −$3.89 |
| EGI | $146.2k | $17.71 |
| − OpEx | −$36.6k | −$4.43 |
| NOI | $109.7k | $13.28 |
8,256 SF · lease $21.60/SF/yr · vacancy 18.00% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
