Secured-Yard Flex
For Sale
$1,160,000
Pending
8442 Washington Pl NE, Albuquerque, NM 87113
Single-tenant configuration combines professional offices with warehouse operations and fenced outdoor storage.
Property Size4,530 SF
Lot Size0.72 Acres
Days on Market152
Property Features for 8442 Washington Pl NE
General Information
Standard status
Pending
Size
4,530 SF
Lot size
0.72 Acres
Property subtype
Industrial
Zoning
NR-LM
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
2,530 SF
Office Build-Out
2,000 SF
Drive-In Doors
2
Voltage
208 V
Three-Phase Power
Yes
Amenities
Power
Water
Sewer
Natural Gas
Vacant
Building Details
Buildings
1
Building Size
4,530 SF
Tenancy
Single
Listing Agency:
Sycamore Associates,LLC
(505) 345-5075
Listed By:
Gregory Leach
(505) 345-5075
Source:
Carnm.resimplifi
Added: Apr 2
Changed: Aug 31
Last Checked: Aug 31 at 1:24PM
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 Sycamore Associates,LLC
Investment Insights
Based on property information with market context.
This single-tenant flex property includes approximately ±4,530 SF arranged between ±2,000 SF of office space and ±2,530 SF of warehouse area. The office component has updated HVAC, while the warehouse provides clear-span space, new heaters, a mezzanine above the tool room, and two grade-level drive-in doors measuring 12’x12’ and 18’x12’. Three-phase electrical service at 120/208V supports industrial operations. The site occupies approximately ±0.72 acres and includes a large fenced, secured yard with updated irrigation and a maintained exterior.
Located off Washington Place NE in Albuquerque, the property provides access to I-25 and Paseo del Norte. The combination of enclosed workspace, administrative offices, and secured outdoor area creates a practical facility for industrial, service, or contractor operations.
Located off Washington Place NE in Albuquerque, the property provides access to I-25 and Paseo del Norte. The combination of enclosed workspace, administrative offices, and secured outdoor area creates a practical facility for industrial, service, or contractor operations.
Key Highlights
- ±4,530 SF building with ±2,000 SF office and ±2,530 SF warehouse space
- ±0.717 acres with a large fenced and secured yard
- Two grade‑level drive‑in doors: 12’x12’ and 18’x12’
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
$60,177
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
5.19%
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%
$1,203,540
$1.2M
Cap Rate 7%
$859,671
$859.7K
Cap Rate 9%
$668,633
$668.6K
Market Conditions
NOI Build-Up for 4,530 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
$97.8K $21.60/SF
− Vacancy
−$17.6K −$3.89/SF
EGI
$80.2K $17.71/SF
− OpEx
−$20.1K −$4.43/SF
NOI
$60.2K $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%
$1,203,540
Cap Rate 7%
$859,671
Cap Rate 9%
$668,633
Alternative Uses
Best Use
Office B
$859.7K
$752.2K – $1.00M
NOI $60,177 @ 7.0% cap · market cap 5.19%
Second Best
Flex RnD
$575.4K
$503.5K – $671.4K
NOI $40,281 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.10M
$958.9K – $1.28M
NOI $76,713 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,028
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant configuration combines professional offices with warehouse operations and fenced outdoor storage.
Where is this flex space located?
The property is located at 8442 Washington Pl NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,160,000.
What are key features of this property?
This property features: ±4,530 SF building with ±2,000 SF office and ±2,530 SF warehouse space; ±0.717 acres with a large fenced and secured yard; Two grade‑level drive‑in doors: 12’x12’ and 18’x12’
