Flex Space with Attached
For Sale
$585,000
860 S Camino Del Pueblo, Bernalillo, NM 87004
Three storefront units connect with a powered rear warehouse suited to vehicle storage, collections, or workshop operations.
Property Size5,712 SF
Price / SF$102.42
Days on Market14
Property Features for 860 S Camino Del Pueblo
General Information
Standard status
Active
Size
5,712 SF
Total Parking Spaces
8
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,252 SF
Voltage
220 V
Amenities
signage
wood stove
Listing Agency:
Bright House Real Estate LLC
(505) 440-4137
Listed By:
Beatriz Hernandez
Source:
Albuquerquehomefinders
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 3:06PM
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 Bright House Real Estate LLC
Investment Insights
Based on property information with market context.
This flex property combines 3,460 square feet of storefront space with an attached 2,252-square-foot warehouse. The front building is divided into three separate storefront units, while the rear structure provides room for up to 8 vehicles. The warehouse includes 220-volt power for machinery or vehicle lifts and a wood stove, supporting storage, collection, and workshop functions.
The property is positioned at 860 S Camino Del Pueblo on Main Street, also designated State Road 313, with on-property signage and street parking along the frontage. Eight private off-street parking spaces supplement the public parking directly outside. The Downtown Bernalillo Rail Runner station, Town Hall, and local dining establishments are located minutes away.
The property is positioned at 860 S Camino Del Pueblo on Main Street, also designated State Road 313, with on-property signage and street parking along the frontage. Eight private off-street parking spaces supplement the public parking directly outside. The Downtown Bernalillo Rail Runner station, Town Hall, and local dining establishments are located minutes away.
Key Highlights
- 3,460‑square‑foot main building divided into three storefront units
- Attached 2,252‑square‑foot warehouse accommodates up to 8 vehicles
- 220‑volt power supports machinery or vehicle lifts
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
$48,820
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
8.35%
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%
$976,400
$976.4K
Cap Rate 7%
$697,429
$697.4K
Cap Rate 9%
$542,444
$542.4K
Market Conditions
NOI Build-Up for 5,712 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
$75.4K $13.20/SF
− Vacancy
−$5.7K −$0.99/SF
EGI
$69.7K $12.21/SF
− OpEx
−$20.9K −$3.66/SF
NOI
$48.8K $8.55/SF
Area
Sandoval County, NM
Vacancy
7.50%
Lease Rate
$13.20 /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%
$976,400
Cap Rate 7%
$697,429
Cap Rate 9%
$542,444
Alternative Uses
Best Use
Retail
$697.4K
$610.3K – $813.7K
NOI $48,820 @ 7.0% cap · market cap 8.35%
Second Best
Flex RnD
$598.3K
$523.5K – $698.0K
NOI $41,880 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,282 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87004, NM
10,859
Population
4,916
Households
2.2
Avg Household Size
44
Median Age
23%
College-Educated
84%
High-School Grad
90.6 sq mi
ZIP Area
120
Density / Sq Mi
$63,319
Median Household Income
$36,402
Median Earnings
$1,066
Median Rent
$235,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three storefront units connect with a powered rear warehouse suited to vehicle storage, collections, or workshop operations.
Where is this flex space located?
The property is located at 860 S Camino Del Pueblo Bernalillo, NM.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 3,460‑square‑foot main building divided into three storefront units; Attached 2,252‑square‑foot warehouse accommodates up to 8 vehicles; 220‑volt power supports machinery or vehicle lifts
