Uptown Market Building For
For Sale
Contact for pricing
Pending
7111 Prospect Pl NE, Albuquerque, NM 87110
Located in the heart of Uptown Market, Albuquerque.
Property Size15,836 SF
Days on Market193
Property Features for 7111 Prospect Pl NE
General Information
Standard status
Pending
Size
15,836 SF
Class
B
Property subtype
Office, Retail
Zoning
MX-M
Occupancy
60%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Stories
3
Units
6
Listing Agency:
Berger Briggs Real Estate & Insurance Inc
Listed By:
Dave Vincioni · License #NM 31771AB
Source:
Crexi
Added: Feb 11
Changed: Aug 13
Last Checked: Aug 22 at 11:24AM
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 Berger Briggs Real Estate & Insurance Inc
Investment Insights
Based on property information with market context.
This 15,836-square-foot commercial building is located in the heart of the Uptown Market, west of Louisiana and south of Menaul. The property is ideally suited for medical owner/users, with sinks and drains available and in place in most offices. It also presents a solid long-term investment opportunity for investors. On-site and on-street parking is available for tenants and customers.
Key Highlights
- Prime location in the heart of the Uptown Market area
- Ideal for medical owner/users with existing sinks and drains in most offices
- Suitable for investors seeking a solid, long‑term investment
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
$210,365
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
8.77%
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%
$4,207,300
$4.2M
Cap Rate 7%
$3,005,214
$3.0M
Cap Rate 9%
$2,337,389
$2.3M
Market Conditions
NOI Build-Up for 15,836 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
$342.1K $21.60/SF
− Vacancy
−$61.6K −$3.89/SF
EGI
$280.5K $17.71/SF
− OpEx
−$70.1K −$4.43/SF
NOI
$210.4K $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%
$4,207,300
Cap Rate 7%
$3,005,214
Cap Rate 9%
$2,337,389
Alternative Uses
Best Use
Office B
$3.01M
$2.63M – $3.51M
NOI $210,365 @ 7.0% cap · market cap 8.77%
Second Best
Healthcare Medical
$2.89M
$2.53M – $3.38M
NOI $202,555 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,173 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,218
Businesses Nearby
Balanced
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.
Similar Off Market Nearby
- St. Francis Animal Clinic — 6401 Menaul Blvd NE, Albuquerque, NM 87110
- West Veterinary Clinic — Albuquerque, NM 87110
- Heisse Richard a DVM — 6401 Menaul Blvd NE, Albuquerque, NM 87110, United States
- St Francis Animal Clinic Ltd: Cage Kristen T DVM — 6401 Menaul Blvd NE, Albuquerque, NM 87110
- TLC Pet Hospital — 1720 Wyoming Blvd NE, Albuquerque, NM 87112
Frequently Asked Questions
What type of property is this?
Medical Office Space - Located in the heart of Uptown Market, Albuquerque.
Where is this medical office space located?
The property is located at 7111 Prospect Pl NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Prime location in the heart of the Uptown Market area; Ideal for medical owner/users with existing sinks and drains in most offices; Suitable for investors seeking a solid, long‑term investment
