Mixed-Use Gallery with Alley
For Sale
$480,000
Pending
820 Kent Ave NW, Albuquerque, NM 87102
MX-T zoning includes live-work, office, boutique retail, café, and short-term rental uses.
Property Size1,500 SF
Days on Market81
Property Features for 820 Kent Ave NW
General Information
Standard status
Pending
Size
1,500 SF
Total Parking Spaces
2
Property subtype
Retail
Zoning
MX-T
Amenities
Power
Water
Sewer
Natural Gas
2 Parking Spaces
Building Details
Year Built
1926
Listing Agency:
Real Broker LLC
(505) 264-1016
Listed By:
Mark Rickert
(505) 264-1016
Source:
Carnm.resimplifi
Added: Jun 11
Changed: Aug 29
Last Checked: Aug 29 at 3:59PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This 1,500-square-foot mixed-use building, constructed in 1926, is currently configured as an art gallery for solo exhibitions, community programming, and juried presentations. The property includes a new roof, a dedicated 100 amp sub-panel, a paved patio with alley access, and a walk-up bar. Its MX-T zoning supports live-work units along with small offices, boutique retail, cafés, personal services, institutional uses, and other stated commercial and residential applications.
The property participates in the First Friday Artwalk, sits one block from the Saturday Downtown Grower’s Market, and is two blocks from Route 66. Downtown venues named in the property information are within walking distance, including Oni, Arrive Hotel, Ex Novo Brewery, and Sister. The patio offers an outdoor setting for pop-ups, markets, and evening events.
The property participates in the First Friday Artwalk, sits one block from the Saturday Downtown Grower’s Market, and is two blocks from Route 66. Downtown venues named in the property information are within walking distance, including Oni, Arrive Hotel, Ex Novo Brewery, and Sister. The patio offers an outdoor setting for pop-ups, markets, and evening events.
Key Highlights
- MX‑T zoning supports 30+ stated residential, office, retail, café, institutional, and other uses
- 1,500‑square‑foot building constructed in 1926
- Current art gallery use includes exhibitions, community events, and juried shows
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
$21,562
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
4.49%
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%
$431,240
$431.2K
Cap Rate 7%
$308,029
$308.0K
Cap Rate 9%
$239,578
$239.6K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$2.5K −$1.67/SF
EGI
$30.8K $20.54/SF
− OpEx
−$9.2K −$6.16/SF
NOI
$21.6K $14.37/SF
Area
Albuquerque, NM
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$431,240
Cap Rate 7%
$308,029
Cap Rate 9%
$239,578
Alternative Uses
Best Use
Retail
$308.0K
$269.5K – $359.4K
NOI $21,562 @ 7.0% cap · market cap 4.49%
Second Best
Office B
$284.7K
$249.1K – $332.1K
NOI $19,926 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$362.9K
$317.5K – $423.4K
NOI $25,402 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,859
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 Office 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?
Mixed-use property - MX-T zoning includes live-work, office, boutique retail, café, and short-term rental uses.
Where is this mixed-use property located?
The property is located at 820 Kent Ave NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: MX‑T zoning supports 30+ stated residential, office, retail, café, institutional, and other uses; 1,500‑square‑foot building constructed in 1926; Current art gallery use includes exhibitions, community events, and juried shows
