Gold Manor Multifamily
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For Sale
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802 Gold Avenue Southwest, Albuquerque, NM 87102
Built in 1966 and zoned R-MH, the property is positioned along Gold Avenue Southwest in downtown Albuquerque.
Property Size16,426 SF
Price / SF$164.37
Days on Market7
Property Features for 802 Gold Avenue Southwest
General Information
Standard status
Active
Size
16,426 SF
Class
B
Property subtype
Multifamily
Zoning
R-MH
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$179,890
Building Details
Year Built
1966
Buildings
1
Stories
3
Units
28
Tenancy
Multi
Listing Agency:
Rhino Realty Property
Listed By:
Nick Chavez · License #REC20230594
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 7:30AM
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 Rhino Realty Property
Investment Insights
Based on property information with market context.
Gold Manor is a multifamily property at 802 Gold Avenue Southwest in Albuquerque. Constructed in 1966, the property carries R-MH zoning and is situated along Gold Avenue Southwest, identified as a downtown corridor with ongoing commercial and residential activity.
The address places the asset within downtown Albuquerque, where the surrounding area is experiencing revitalization efforts that include investment and placemaking initiatives.
The address places the asset within downtown Albuquerque, where the surrounding area is experiencing revitalization efforts that include investment and placemaking initiatives.
Key Highlights
- Multifamily property at 802 Gold Avenue Southwest, Albuquerque, NM 87102
- Built in 1966
- Zoned R‑MH
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
$138,745
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
5.14%
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%
$2,774,900
$2.8M
Cap Rate 7%
$1,982,071
$2.0M
Cap Rate 9%
$1,541,611
$1.5M
Market Conditions
NOI Build-Up for 16,426 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
$266.1K $16.20/SF
− Vacancy
−$13.8K −$0.84/SF
EGI
$252.3K $15.36/SF
− OpEx
−$113.5K −$6.91/SF
NOI
$138.7K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,774,900
Cap Rate 7%
$1,982,071
Cap Rate 9%
$1,541,611
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,745 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.97M
$3.48M – $4.64M
NOI $278,164 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,888
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Multifamily property - Built in 1966 and zoned R-MH, the property is positioned along Gold Avenue Southwest in downtown Albuquerque.
Where is this multifamily property located?
The property is located at 802 Gold Avenue Southwest Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Multifamily property at 802 Gold Avenue Southwest, Albuquerque, NM 87102; Built in 1966; Zoned R‑MH
