Building Details

Building Size 18,046 SF

Stories 2

Listing Agency: Show Phone

Listed By: John Sabourin

Source: Homeauthority

Added: Oct 20 Changed: Oct 31 Last Checked: Oct 31 at 3:39AM

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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 John Sabourin

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Investment Insights

Based on property information with market context.

This mixed-use property combines a 5,046-square-foot commercial retail building with 13 condominium units positioned behind it. Each condominium has 2 bedrooms and 2.5 bathrooms. The property is zoned MX-L*.

At 9368 Valley View Drive NW in Albuquerque, the site is just off Coors Boulevard, where traffic counts are approximately 43,000 vehicles per day. The residential units overlook the Black Farm area.

Key Highlights

• 5,046‑square‑foot commercial retail building
• 13 condominium units, each with 2 bedrooms and 2.5 bathrooms
• MX‑L* zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$170,535

Cap Rate

3.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,410,700 $3.4M

Cap Rate 7%

$2,436,214 $2.4M

Cap Rate 9%

$1,894,833 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,046 SF

Gross rent

$303.2K $16.80/SF

− Vacancy

−$30.3K −$1.68/SF

EGI

$272.9K $15.12/SF

− OpEx

−$102.3K −$5.67/SF

NOI

$170.5K $9.45/SF

Area

ZIP 87114

Vacancy

10.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,410,700

Cap Rate 7%

$2,436,214

Cap Rate 9%

$1,894,833

Alternative Uses

Best Use

Mixed Use

$2.44M

$2.13M – $2.84M (±1% cap)

NOI $170,535 @ 7.0% cap · market cap 3.10%

Second Best

Apartment 5plus

$1.97M

$1.72M – $2.30M (±1% cap)

NOI $137,708 @ 7.0% cap · market cap 2.50%

Theoretical Best

Office A

$3.73M

$3.27M – $4.35M (±1% cap)

NOI $261,205 @ 7.0% cap · market cap 4.75%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Albuquerque Bathroom Renovations Hardware & Home Improvement

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Restaurant Hair Salon Spa & Massage Center

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

Lease Details

13

Residential units

Location Intelligence

Trade Area within ½ mile

450

Businesses Nearby

Explore this area Business Placement

Demographics for 87114, NM

69,402

Population

28,038

Households

2.5

Avg Household Size

37

Median Age

39%

College-Educated

95%

High-School Grad

20.9 sq mi

ZIP Area

3,321

Density / Sq Mi

$81,768

Median Household Income

$48,127

Median Earnings

$1,321

Median Rent

$296,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The residential component comprises multiple two-bedroom condominiums alongside a commercial retail space.

Where is this mixed-use property located?

The property is located at 9368 Valley View Drive Nw Albuquerque, NM.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: 5,046‑square‑foot commercial retail building; 13 condominium units, each with 2 bedrooms and 2.5 bathrooms; MX‑L* zoning