8612 PASEO ALAMEDA NE #B, Albuquerque, NM 87113

Building Details

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Stories 2 More

Listing Agency: Weichert, Realtors Image p***@imagerealtyabq.com Show Phone

Listed By: Jamie Aris Morrison · License #50405 Show Phone

Source: 1stclassrealtyofsantafe

Added: Mar 20 Changed: Nov 6 Last Checked: Nov 6 at 4:58AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,929-square-foot flex property combines a temperature-controlled warehouse with office and support areas. The warehouse has a 12-foot bay door. Upstairs, three bedrooms and a TV lounge can instead serve as four private offices, alongside a full kitchen. The ground floor provides up to four offices, a break area, and a bathroom.

Two combination HVAC units, smart temperature controls, updated lighting, and a tankless water heater serve the property. Balloon Fiesta Park is nearby.

Key Highlights

• 2,929‑square‑foot flex property
• Climate‑controlled warehouse with a 12' bay door
• Upstairs layout includes 3 bedrooms and a TV lounge, or 4 private offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,909

Cap Rate

4.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$778,180 $778.2K

Cap Rate 7%

$555,843 $555.8K

Cap Rate 9%

$432,322 $432.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,929 SF

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 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 (±1% cap)

NOI $38,909 @ 7.0% cap · market cap 4.89%

Second Best

Mixed Use

$508.4K

$444.8K – $593.1K (±1% cap)

NOI $35,587 @ 7.0% cap · market cap 4.48%

Theoretical Best

Office A

$708.6K

$620.0K – $826.7K (±1% cap)

NOI $49,601 @ 7.0% cap · market cap 6.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Active Electric Inc Electrical Service Post-Tension Reinforcing Services General Contractor Apex Structural Contractors Construction Company School High School Altitude Roofing Roofing Company

Suggested Use

Top Pick Dental Office Restaurant Spa & Massage Center Bakery Parking Lot & Garage (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Properties on Market for Flex space in Albuquerque

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office areas, a kitchen, and a warehouse support a mix of commercial functions under one roof.

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: 2,929‑square‑foot flex property; Climate‑controlled warehouse with a 12' bay door; Upstairs layout includes 3 bedrooms and a TV lounge, or 4 private offices