Mid-Century Apartment
For Sale
$1,594,615
8600 Zuni Road SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size16,020 SF
Lot Size1.00 Acre
Price / SF$99.54
Days on Market93
Property Features for 8600 Zuni Road SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-T*
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1
Appliances
Refrigerator
Subdivision
J E Burns Addn
Directions
From Wyoming and I-40 south to Zuni, west to property
Standard status
Active
APN
101905645152311926
Size
16,020 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Tr In E Of Nw Of Ne Of Ne T10n R4e Sec 30 & Lts I & J & Unpl Atted Por Nw O F Lt J & E Of Vemont Of J E Burns Addn Cont
Tax Annual Amount
12050
Legal Description
Tr In E Of Nw Of Ne Of Ne T10n R4e Sec 30 & Lts I & J & Unpl Atted Por Nw O F Lt J & E Of Vemont Of J E Burns Addn Cont
Amenities
soft-gated community entry
community laundry room (with free machines)
secured communal outdoor spaces
Building Details
Year built
1960
Floors in Building
2
Number of units
25
Flooring type
Vinyl, Carpet
Building materials
BrickVeneer, Frame
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Jun 2
Changed: Sep 1
Last Checked: Sep 2 at 9:06AM
MLS# 1104629
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 16,020-square-foot apartment property was built in 1960 and occupies one acre in Albuquerque. The residences feature open kitchen layouts, bar-height counters, full bathrooms with extensive built-in storage, and a blend of mid-century tile and updated finishes. Improvements include thermal windows, fresh paint, updated fixtures, and Luxury Vinyl Plank flooring, with select carpeting also present.
Community features include a soft-gated entrance, parking located near the apartments, a dedicated laundry building with complimentary machines, and several secured outdoor gathering areas. The property is located at 8600 Zuni Road SE in Albuquerque, Bernalillo County, New Mexico. A potential 11.1% cap rate is identified in the property information.
Community features include a soft-gated entrance, parking located near the apartments, a dedicated laundry building with complimentary machines, and several secured outdoor gathering areas. The property is located at 8600 Zuni Road SE in Albuquerque, Bernalillo County, New Mexico. A potential 11.1% cap rate is identified in the property information.
Key Highlights
- 16,020‑square‑foot apartment property on 1 acre
- 1960 construction with brick veneer and frame materials
- Apartment upgrades include thermal windows, fresh paint, updated fixtures, and Luxury Vinyl Plank flooring
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
$135,316
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
8.49%
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%
$2,706,320
$2.7M
Cap Rate 7%
$1,933,086
$1.9M
Cap Rate 9%
$1,503,511
$1.5M
Market Conditions
NOI Build-Up for 16,020 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
$259.5K $16.20/SF
− Vacancy
−$13.5K −$0.84/SF
EGI
$246.0K $15.36/SF
− OpEx
−$110.7K −$6.91/SF
NOI
$135.3K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,706,320
Cap Rate 7%
$1,933,086
Cap Rate 9%
$1,503,511
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,316 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.88M
$3.39M – $4.52M
NOI $271,289 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - One-acre multifamily property with renovated interiors, controlled entry, and shared resident amenities.
Where is this apartment building located?
The property is located at 8600 Zuni Road SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,594,615.
What are key features of this property?
This property features: 16,020‑square‑foot apartment property on 1 acre; 1960 construction with brick veneer and frame materials; Apartment upgrades include thermal windows, fresh paint, updated fixtures, and Luxury Vinyl Plank flooring
