Warehouse with Remodeled
For Sale
$1,080,000
7700 Ouray Rd, Albuquerque, NM 87121
Warehouse with 10'–12' ceilings plus a fully remodeled office featuring multiple private offices, conference room, and bullpen.
Property Size4,044 SF
Price / SF$267.06
Days on Market281
Property Features for 7700 Ouray Rd
General Information
Standard status
Active
Size
4,044 SF
Listing Agency:
Realty One Group Concierge
Listed By:
Candice N Cordova
(505) 798-6300
Source:
Albuquerquehomefinders
Added: Dec 3, 2025
Changed: Sep 9
Last Checked: Sep 9 at 11:21AM
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 Realty One Group Concierge
Investment Insights
Based on property information with market context.
This property combines a spacious warehouse with a turn-key, fully remodeled office area. The office was completed in August 2024 and includes two private offices, a conference room, a reception area, two restrooms, and a bullpen with four cubicle work areas. Improvements include new LVT commercial-grade flooring, carpet tiles, new blinds, updated lighting, and fresh paint throughout.
The office is supported by energy-efficient mini splits in six zones and motion sensor lighting. Security features include a mag lock on the front door and an extensive 24-camera surveillance system designed to detect both motion and sound.
The warehouse has 10'–12' ceilings. Access to the perimeter fencing is available via an electronic gate operated by cellular access or a remote garage door opener. The office is offered furnished.
The office is supported by energy-efficient mini splits in six zones and motion sensor lighting. Security features include a mag lock on the front door and an extensive 24-camera surveillance system designed to detect both motion and sound.
The warehouse has 10'–12' ceilings. Access to the perimeter fencing is available via an electronic gate operated by cellular access or a remote garage door opener. The office is offered furnished.
Key Highlights
- Fully remodeled office completed August 2024 with new roof in spring 2025
- Office layout includes 2 private offices, conference room, reception area, bullpen with 4 cubicle work areas, and 2 restrooms
- Office upgrades include commercial‑grade LVT flooring, carpet tiles, new blinds, updated lighting, and fresh paint throughout
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
$42,583
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
3.94%
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%
$851,660
$851.7K
Cap Rate 7%
$608,329
$608.3K
Cap Rate 9%
$473,144
$473.1K
Market Conditions
NOI Build-Up for 4,044 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
$72.8K $18.00/SF
− Vacancy
−$16.0K −$3.96/SF
EGI
$56.8K $14.04/SF
− OpEx
−$14.2K −$3.51/SF
NOI
$42.6K $10.53/SF
Area
ZIP 87121
Vacancy
22.00%
Lease Rate
$18.00 /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%
$851,660
Cap Rate 7%
$608,329
Cap Rate 9%
$473,144
Alternative Uses
Best Use
Office B
$608.3K
$532.3K – $709.7K
NOI $42,583 @ 7.0% cap · market cap 3.94%
Second Best
Flex RnD
$508.3K
$444.8K – $593.0K
NOI $35,581 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$822.1K
$719.3K – $959.1K
NOI $57,546 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87121, NM
77,802
Population
26,118
Households
3
Avg Household Size
31
Median Age
13%
College-Educated
80%
High-School Grad
336.9 sq mi
ZIP Area
231
Density / Sq Mi
$59,184
Median Household Income
$34,738
Median Earnings
$1,277
Median Rent
$192,500
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse with 10'–12' ceilings plus a fully remodeled office featuring multiple private offices, conference room, and bullpen.
Where is this flex space located?
The property is located at 7700 Ouray Rd Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Fully remodeled office completed August 2024 with new roof in spring 2025; Office layout includes 2 private offices, conference room, reception area, bullpen with 4 cubicle work areas, and 2 restrooms; Office upgrades include commercial‑grade LVT flooring, carpet tiles, new blinds, updated lighting, and fresh paint throughout
