Operating Convenience Store with
For Sale
$625,000
9201 Central Ave NE, Albuquerque, NM 87123
MX-H zoning supports varied commercial uses alongside existing gasoline and propane dispensing facilities.
Property Size3,300 SF
Price / SF$189.39
Days on Market129
Property Features for 9201 Central Ave NE
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Retail
Zoning
MX-H
Listing Agency:
Edwards Commercial Realty, LLC
(505) 998-7298
Listed By:
Mariah Edwards · License #11748
(505) 998-7298
Source:
Carnm.resimplifi
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 10:27AM
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 Edwards Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This operating convenience store occupies approximately 3,300 square feet on a 0.34-acre site. The property includes a compact fuel canopy with two MPDs and a dedicated propane dispensing area. MX-H zoning provides a commercial framework for multiple potential uses.
Located at 9201 Central Ave NE in Albuquerque, the property fronts the Central Avenue corridor, which carries 28,600 VPD. Full access to Central Avenue and multiple access points support convenient site circulation. Nearby activity includes a beauty supply store, pharmacy, Asian restaurant, auto sales lot, and other automotive-oriented businesses.
Located at 9201 Central Ave NE in Albuquerque, the property fronts the Central Avenue corridor, which carries 28,600 VPD. Full access to Central Avenue and multiple access points support convenient site circulation. Nearby activity includes a beauty supply store, pharmacy, Asian restaurant, auto sales lot, and other automotive-oriented businesses.
Key Highlights
- Operating 3,300+/- SF convenience store on 0.34 acres
- MX‑H commercial zoning
- Small canopy with two MPD’s for gas
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
$55,836
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
8.93%
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%
$1,116,720
$1.1M
Cap Rate 7%
$797,657
$797.7K
Cap Rate 9%
$620,400
$620.4K
Market Conditions
NOI Build-Up for 3,300 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
$79.2K $24.00/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$74.4K $22.56/SF
− OpEx
−$18.6K −$5.64/SF
NOI
$55.8K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /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%
$1,116,720
Cap Rate 7%
$797,657
Cap Rate 9%
$620,400
Alternative Uses
Best Use
Specialty Retail
$797.7K
$698.0K – $930.6K
NOI $55,836 @ 7.0% cap · market cap 8.93%
Second Best
Retail
$677.7K
$593.0K – $790.6K
NOI $47,436 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 23%
Electronics 3%
Apparel 2%
Dutch Bros. Coffee
Dining
16,564 visits/mo
0.5 miles
Little Caesars Pizza
Dining
10,088 visits/mo
0.5 miles
Circle K
Shops & Services
8,596 visits/mo
0.4 miles
Del Taco
Dining
7,837 visits/mo
0.5 miles
Advance Auto Parts
Shops & Services
3,944 visits/mo
0.5 miles
Demographics for 87123, NM
44,110
Population
20,533
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
89%
High-School Grad
28.9 sq mi
ZIP Area
1,526
Density / Sq Mi
$61,552
Median Household Income
$35,867
Median Earnings
$995
Median Rent
$236,400
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- International Co — 121 Virginia St NE, Albuquerque, NM 87108
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - MX-H zoning supports varied commercial uses alongside existing gasoline and propane dispensing facilities.
Where is this grocery and convenience store located?
The property is located at 9201 Central Ave NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Operating 3,300+/- SF convenience store on 0.34 acres; MX‑H commercial zoning; Small canopy with two MPD’s for gas
