Historic Restaurant in North
For Sale
Contact for pricing
8032 4th St NW, Albuquerque, NM 87114
Iconic New Mexican restaurant with a rich history and proven success.
Property Size9,181 SF
Lot Size2.04 Acres
Price / SF$299.53
Days on Market181
Property Features for 8032 4th St NW
General Information
Standard status
Active
Size
9,181 SF
Class
A
Lot size
2.04 Acres
Property subtype
Retail
Zoning
C-1
Investment Type
Owner/User
Building Details
Year Built
1958
Stories
2
Tenancy
Single
Listing Agency:
Berkshire Hathaway New Mexico Commercial Division
Listed By:
Jim Pitts · License #NM
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 11 at 8:17AM
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 Berkshire Hathaway New Mexico Commercial Division
Investment Insights
Based on property information with market context.
This historic New Mexican restaurant, situated in the North Valley, has operated for over 50 years. The restaurant provides 8,591 square feet of dining and serving space. It features patios with koi fish ponds and gardens, along with a full-service bar. The interior provides seating suitable for both small and large gatherings. The property includes full-service kitchens and two large walk-in freezers. Located on a 2.0398-acre lot, the restaurant offers ample parking for guests. The property is suitable for use as a restaurant.
Key Highlights
- Established restaurant with 50+ year history and proven track record.
- Expansive 8591 sq ft dining and serving space.
- Sits on 2.0398 acres, providing ample parking.
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
$88,847
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
3.23%
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%
$1,776,940
$1.8M
Cap Rate 7%
$1,269,243
$1.3M
Cap Rate 9%
$987,189
$987.2K
Market Conditions
NOI Build-Up for 9,181 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
$126.7K $13.80/SF
− Vacancy
−$8.2K −$0.90/SF
EGI
$118.5K $12.90/SF
− OpEx
−$29.6K −$3.23/SF
NOI
$88.8K $9.68/SF
Area
ZIP 87114
Vacancy
6.50%
Lease Rate
$13.80 /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%
$1,776,940
Cap Rate 7%
$1,269,243
Cap Rate 9%
$987,189
Alternative Uses
Best Use
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,847 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,889 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
81k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 44%
Home Improvements & Furnishings 1%
Electronics 1%
Whataburger
Dining
24,587 visits/mo
0.4 miles
Wendy's
Dining
11,288 visits/mo
0.2 miles
Speedway
Shops & Services
11,118 visits/mo
0.4 miles
The UPS Store
Shops & Services
10,228 visits/mo
0.4 miles
Blake's LotaBurger
Dining
7,390 visits/mo
0.3 miles
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Iconic New Mexican restaurant with a rich history and proven success.
Where is this conventional restaurant located?
The property is located at 8032 4th St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Established restaurant with **50+ year history and proven track record**.; Expansive **8591 sq ft dining and serving space**.; Sits on 2.0398 acres, providing ample parking.
