Fully Rented
For Sale
$415,000
8700 Northeastern Blvd NE, Albuquerque, NM 87112
Three residential units feature updated kitchen finishes, private outdoor areas, storage, and dedicated parking.
Property Size2,331 SF
Price / SF$178.04
Days on Market8
Property Features for 8700 Northeastern Blvd NE
General Information
Standard status
Active
Size
2,331 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
hickory cabinets
laminate countertops
white appliances
carpet and tile flooring
evaporative cooling
wall heater
stackable washer and dryer
front courtyard
private walled backyard
exterior storage closet
Building Details
Year Built
1959
Listing Agency:
Platlabs, LLC
(303) 848-6215
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 20
Changed: Sep 26
Last Checked: Sep 26 at 6:46AM
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 Platlabs, LLC
Investment Insights
Based on property information with market context.
This 1959 triplex is fully rented, with three units offering approximately 775 square feet, two bedrooms, and one full bath each. Interior features include hickory cabinetry, laminate countertops, white appliances, carpet and tile flooring, evaporative cooling, wall heaters, and stackable washer and dryer sets. Each residence also includes a front courtyard, private walled backyard, exterior storage closet, and two parking spaces.
Tenants pay electric and gas, while ownership covers water, sewer, trash, and maintenance. The property is located near shopping, dining, and other amenities in the Snow Heights area of Albuquerque, New Mexico.
Tenants pay electric and gas, while ownership covers water, sewer, trash, and maintenance. The property is located near shopping, dining, and other amenities in the Snow Heights area of Albuquerque, New Mexico.
Key Highlights
- Fully rented triplex with three residential units
- Each unit offers approximately 775 square feet with 2 bedrooms and 1 full bath
- Hickory cabinets, laminate countertops, white appliances, carpet, and tile 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
$21,279
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
5.13%
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%
$425,580
$425.6K
Cap Rate 7%
$303,986
$304.0K
Cap Rate 9%
$236,433
$236.4K
Market Conditions
NOI Build-Up for 2,331 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
$32.2K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.4K $13.04/SF
− OpEx
−$9.1K −$3.91/SF
NOI
$21.3K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /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%
$425,580
Cap Rate 7%
$303,986
Cap Rate 9%
$236,433
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,279 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$281.3K
$246.1K – $328.2K
NOI $19,689 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$563.9K
$493.4K – $657.9K
NOI $39,474 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature updated kitchen finishes, private outdoor areas, storage, and dedicated parking.
Where is this triplex located?
The property is located at 8700 Northeastern Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Fully rented triplex with three residential units; Each unit offers approximately 775 square feet with 2 bedrooms and 1 full bath; Hickory cabinets, laminate countertops, white appliances, carpet, and tile flooring
