Flex Space with Secured
For Sale
Contact for pricing
808 Gibson Boulevard Southeast, Albuquerque, NM 87102
Three-building industrial campus combines warehouse and office areas with loading access and secured outdoor storage.
Property Size20,902 SF
Lot Size1.16 Acres
Price / SF$136.35
Days on Market15
Property Features for 808 Gibson Boulevard Southeast
General Information
Standard status
Active
Size
20,902 SF
Lot size
1.16 Acres
Property subtype
Office, Industrial
Zoning
NR-C
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
14 ft
Office Build-Out
2,000 SF
Power
800 amps
Three-Phase Power
Yes
Building Details
Year Built
1945
Buildings
3
Tenancy
Single
Building Size
20,902 SF
Listing Agency:
Resolut RE Albuquerque
(505) 337-0777
Listed By:
Martin Richardson · License #20240120
Source:
Crexi
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 11 at 3:35PM
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 Resolut RE Albuquerque
Investment Insights
Based on property information with market context.
This flex-space property includes three buildings totaling approximately 20,902 square feet on a ±1.16-acre secured site. The improvements provide a combination of warehouse and office areas, including approximately 2,000 square feet of office buildout with private offices and support space. A fenced yard accommodates fleet parking, equipment storage, and truck circulation. Loading options include both drive-in and dock-high access, while 800-amp, 3-phase electrical service supports industrial operations. Clear heights range from approximately 9 to 14 feet, and the property was built in 1945.
Located at 808 Gibson Boulevard Southeast, the property is minutes from I-25, approximately 5 minutes from Downtown Albuquerque, and less than 10 minutes from the Albuquerque International Sunport. NR-C zoning under the IDO allows a broad range of commercial and industrial uses. The site is also near Kirtland Air Force Base and Sandia National Laboratories, with access to Gibson Boulevard’s east-west arterial connection.
Located at 808 Gibson Boulevard Southeast, the property is minutes from I-25, approximately 5 minutes from Downtown Albuquerque, and less than 10 minutes from the Albuquerque International Sunport. NR-C zoning under the IDO allows a broad range of commercial and industrial uses. The site is also near Kirtland Air Force Base and Sandia National Laboratories, with access to Gibson Boulevard’s east-west arterial connection.
Key Highlights
- 20,902 square feet across three buildings
- ±1.16‑acre secured site with fenced yard
- Approximately 2,000 square feet of office buildout
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
$185,861
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
6.52%
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%
$3,717,220
$3.7M
Cap Rate 7%
$2,655,157
$2.7M
Cap Rate 9%
$2,065,122
$2.1M
Market Conditions
NOI Build-Up for 20,902 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
$301.0K $14.40/SF
− Vacancy
−$15.0K −$0.72/SF
EGI
$285.9K $13.68/SF
− OpEx
−$100.1K −$4.79/SF
NOI
$185.9K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$3,717,220
Cap Rate 7%
$2,655,157
Cap Rate 9%
$2,065,122
Alternative Uses
Best Use
Office B
$3.97M
$3.47M – $4.63M
NOI $277,662 @ 7.0% cap · market cap 9.74%
Second Best
Flex RnD
$2.66M
$2.32M – $3.10M
NOI $185,861 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$5.06M
$4.42M – $5.90M
NOI $353,963 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-served
Demand for This Use
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three-building industrial campus combines warehouse and office areas with loading access and secured outdoor storage.
Where is this flex space located?
The property is located at 808 Gibson Boulevard Southeast Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 20,902 square feet across three buildings; ±1.16‑acre secured site with fenced yard; Approximately 2,000 square feet of office buildout
