Industrial Building Near Kirkland
For Sale
Contact for pricing
Pending
9921 Southern Ave SE, Albuquerque, NM
Tenant-occupied industrial building with six bays near Kirkland AFB.
Property Size10,000 SF
Lot Size0.50 Acres
Days on Market366
Property Features for 9921 Southern Ave SE
General Information
Standard status
Pending
Size
10,000 SF
Lot size
0.50 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker - Legacy | Paseo del Norte
(505) 228-3338
Listed By:
Norton Ed Wray
(505) 228-3338
Source:
Moodyscre
Added: Aug 12, 2025
Changed: Aug 8
Last Checked: Aug 12 at 5:44AM
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 Coldwell Banker - Legacy | Paseo del Norte
Investment Insights
Based on property information with market context.
This commercial building, zoned for light industrial use, features six attached bays. It is situated next to Kirkland Air Force Base and includes paved parking. The property is fully tenant-occupied by long-standing tenants, presenting an investment opportunity in a thriving location. The property size is 10000 square feet.
Key Highlights
- Fully tenant‑occupied by long‑standing tenants
- Excellent investment opportunity
- Prime commercial building zoned light industrial
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
$60,165
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
7.52%
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%
$1,203,300
$1.2M
Cap Rate 7%
$859,500
$859.5K
Cap Rate 9%
$668,500
$668.5K
Market Conditions
NOI Build-Up for 10,000 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
$90.0K $9.00/SF
− Vacancy
−$4.1K −$0.41/SF
EGI
$86.0K $8.59/SF
− OpEx
−$25.8K −$2.58/SF
NOI
$60.2K $6.02/SF
Area
Albuquerque, NM
Vacancy
4.50%
Lease Rate
$9.00 /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%
$1,203,300
Cap Rate 7%
$859,500
Cap Rate 9%
$668,500
Alternative Uses
Best Use
Industrial
$859.5K
$752.1K – $1.00M
NOI $60,165 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,344 @ 7.0% cap · market cap 21.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Tenant-occupied industrial building with six bays near Kirkland AFB.
Where is this industrial property located?
The property is located at 9921 Southern Ave SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Fully tenant‑occupied by long‑standing tenants; Excellent investment opportunity; Prime commercial building zoned light industrial
