Flex Space with Secured
For Sale
$1,800,000
Pending
8359 Corona Loop Ne, Albuquerque, NM 87113
Commercial property combining office, warehouse, storage, outdoor work areas, and controlled parking within a developed site.
Property Size7,541 SF
Lot Size0.69 Acres
Days on Market82
Property Features for 8359 Corona Loop Ne
General Information
Standard status
Pending
Size
7,541 SF
Lot size
0.69 Acres
Additional Details
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$7,673
Building Details
Buildings
1
Building Size
7,541 SF
Listing Agency:
EXP Realty LLC
(562) 716-3711
Listed By:
Johnathan Lopez
(562) 716-3711
Source:
Exprealty
Added: May 24
Changed: Aug 12
Last Checked: Aug 12 at 2:51PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
Located at 8359 Corona Loop NE in Albuquerque, this flex property combines a 7,541-square-foot building with office, warehouse, and storage areas. The site also provides secured parking and multiple outdoor components suited to businesses requiring space beyond the building footprint.
The approximately 30,000-square-foot developed area includes 3,650 square feet of landscaped grounds, an 11,284-square-foot paved lot, approximately 5,505 square feet of graveled yard, and a 2,010-square-foot concrete apron. Together, these improvements provide outdoor workspace, equipment parking, loading access, and secured yard capacity alongside the interior facilities.
The approximately 30,000-square-foot developed area includes 3,650 square feet of landscaped grounds, an 11,284-square-foot paved lot, approximately 5,505 square feet of graveled yard, and a 2,010-square-foot concrete apron. Together, these improvements provide outdoor workspace, equipment parking, loading access, and secured yard capacity alongside the interior facilities.
Key Highlights
- 7,541‑square‑foot flex building with office, warehouse, and storage areas
- Approximately 30,000‑square‑foot developed property
- 11,284‑square‑foot paved lot for parking or equipment staging
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
$100,175
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
5.57%
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%
$2,003,500
$2.0M
Cap Rate 7%
$1,431,071
$1.4M
Cap Rate 9%
$1,113,056
$1.1M
Market Conditions
NOI Build-Up for 7,541 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
$162.9K $21.60/SF
− Vacancy
−$29.3K −$3.89/SF
EGI
$133.6K $17.71/SF
− OpEx
−$33.4K −$4.43/SF
NOI
$100.2K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /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%
$2,003,500
Cap Rate 7%
$1,431,071
Cap Rate 9%
$1,113,056
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,175 @ 7.0% cap · market cap 5.57%
Second Best
Flex RnD
$957.9K
$838.2K – $1.12M
NOI $67,055 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,702 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,055
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 87113, NM
16,380
Population
7,155
Households
2.3
Avg Household Size
39
Median Age
52%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
1,099
Density / Sq Mi
$92,083
Median Household Income
$59,641
Median Earnings
$1,581
Median Rent
$362,100
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 - Commercial property combining office, warehouse, storage, outdoor work areas, and controlled parking within a developed site.
Where is this flex space located?
The property is located at 8359 Corona Loop Ne Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 7,541‑square‑foot flex building with office, warehouse, and storage areas; Approximately 30,000‑square‑foot developed property; 11,284‑square‑foot paved lot for parking or equipment staging
