Flexible Commercial Flex
For Sale
$795,000
8612 Paseo Alameda Ne B, Albuquerque, NM 87113
Climate-controlled warehouse space includes office, kitchen, and adaptable upper-level rooms.
Property Size2,929 SF
Price / SF$271.42
Days on Market19
Property Features for 8612 Paseo Alameda Ne B
General Information
Standard status
Active
Size
2,929 SF
Additional Details
HOA Fee
$300
Conditioned Warehouse
Yes
Listing Agency:
Weichert, Realtors Image
(505) 730-9963
Listed By:
Jamie Aris Morrison · License #50405
Source:
Thesouthwestlife
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 28 at 12:47PM
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 Weichert, Realtors Image
Investment Insights
Based on property information with market context.
This 2,929-size commercial property combines a climate-controlled warehouse with a 12-foot bay door and a flexible multi-level interior. The upper floor contains three bedrooms and a TV lounge that can alternatively serve as four private offices. On the main level, the layout provides up to four additional offices, a break area, a bathroom, and a full kitchen.
Building systems include two combination HVAC units with smart temperature controls, updated lighting, and a tankless water heater. The property is located at 8612 Paseo Alameda NE B in Albuquerque, near Balloon Fiesta Park. Its warehouse, office, kitchen, and adaptable room configuration support a range of commercial or live-work arrangements.
Building systems include two combination HVAC units with smart temperature controls, updated lighting, and a tankless water heater. The property is located at 8612 Paseo Alameda NE B in Albuquerque, near Balloon Fiesta Park. Its warehouse, office, kitchen, and adaptable room configuration support a range of commercial or live-work arrangements.
Key Highlights
- Climate‑controlled warehouse with a 12' bay door
- Upper level includes 3 bedrooms and a TV lounge, or 4 private offices
- Main level offers up to 4 offices, a break area, and a bathroom
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
$38,909
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
4.89%
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%
$778,180
$778.2K
Cap Rate 7%
$555,843
$555.8K
Cap Rate 9%
$432,322
$432.3K
Market Conditions
NOI Build-Up for 2,929 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
$63.3K $21.60/SF
− Vacancy
−$11.4K −$3.89/SF
EGI
$51.9K $17.71/SF
− OpEx
−$13.0K −$4.43/SF
NOI
$38.9K $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%
$778,180
Cap Rate 7%
$555,843
Cap Rate 9%
$432,322
Alternative Uses
Best Use
Office B
$555.8K
$486.4K – $648.5K
NOI $38,909 @ 7.0% cap · market cap 4.89%
Second Best
Mixed Use
$508.4K
$444.8K – $593.1K
NOI $35,587 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$708.6K
$620.0K – $826.7K
NOI $49,601 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
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.
Similar Off Market Nearby
- Stay in Your Lane — 8025 Edith Blvd NE, Albuquerque, NM 87113
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled warehouse space includes office, kitchen, and adaptable upper-level rooms.
Where is this flex space located?
The property is located at 8612 Paseo Alameda Ne B Albuquerque, NM.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Climate‑controlled warehouse with a 12' bay door; Upper level includes 3 bedrooms and a TV lounge, or 4 private offices; Main level offers up to 4 offices, a break area, and a bathroom
