NE Heights Adaptable Commercial
For Sale
$303,000
8914 Menaul Boulevard NE, Albuquerque, NM 87112
Adaptable commercial space in a high-visibility NE Heights location.
Property Size1,782 SF
Price / SF$170.03
Days on Market172
Property Features for 8914 Menaul Boulevard NE
General Information
Standard status
Active
Size
1,782 SF
Listing Agency:
NAI SunVista Commercial RE
Listed By:
Luke Scarpa · License #REC-2023-0302
(505) 878-0001
Source:
Thesouthwestlife
Added: Mar 27
Changed: Sep 11
Last Checked: Sep 13 at 12:36PM
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 NAI SunVista Commercial RE
Investment Insights
Based on property information with market context.
This single-story commercial space is located in the NE Heights area and offers high visibility on Menaul Blvd. The property features an efficient floor plan and existing veterinary improvements. It is adaptable to medical, professional, or retail uses. The location is conveniently situated near Uptown Albuquerque.
Key Highlights
- High visibility on Menaul Blvd.
- Great NE Heights location.
- Adaptable to medical, professional or retail uses.
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
$23,672
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
7.81%
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%
$473,440
$473.4K
Cap Rate 7%
$338,171
$338.2K
Cap Rate 9%
$263,022
$263.0K
Market Conditions
NOI Build-Up for 1,782 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
$38.5K $21.60/SF
− Vacancy
−$6.9K −$3.89/SF
EGI
$31.6K $17.71/SF
− OpEx
−$7.9K −$4.43/SF
NOI
$23.7K $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%
$473,440
Cap Rate 7%
$338,171
Cap Rate 9%
$263,022
Alternative Uses
Best Use
Office B
$338.2K
$295.9K – $394.5K
NOI $23,672 @ 7.0% cap · market cap 7.81%
Second Best
Healthcare Medical
$325.6K
$284.9K – $379.9K
NOI $22,793 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$431.1K
$377.2K – $503.0K
NOI $30,177 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Adaptable commercial space in a high-visibility NE Heights location.
Where is this medical office space located?
The property is located at 8914 Menaul Boulevard NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $303,000.
What are key features of this property?
This property features: High visibility on Menaul Blvd.; Great NE Heights location.; Adaptable to medical, professional or retail uses.
