Light-Industrial Manufacturing
For Sale
$800,000
Pending
9921 Southern Blvd SE, Albuquerque, NM 87123
Multi-tenant industrial configuration with attached bays, roll-up access, paved parking, and full occupancy.
Property Size10,000 SF
Days on Market481
Property Features for 9921 Southern Blvd SE
General Information
Standard status
Pending
Size
10,000 SF
Total Parking Spaces
15
Property subtype
Industrial
Zoning
NR-LM
Amenities
Power
Water
Sewer
Natural Gas
15 Parking Spaces
Building Details
Year Built
1979
Listing Agency:
Coldwell Banker Legacy
(505) 228-3338
Listed By:
Norton Ed Wray
(505) 228-3338
Source:
Carnm.resimplifi
Added: May 8, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:13PM
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
Investment Insights
Based on property information with market context.
This 10,000-square-foot manufacturing property, constructed in 1979, contains six attached bays within a light-industrial building. Each bay has approximately 15-foot ceilings and a 10-foot roll-up door, providing consistent access and usable vertical clearance across the property. NR-LM zoning supports its industrial positioning, while paved parking serves the building.
The property is located next to Kirkland Air Force Base and is fully tenant-occupied by long-standing tenants. Its bay layout, loading access, and existing occupancy provide a defined operating configuration for industrial users and investors seeking an established commercial asset.
The property is located next to Kirkland Air Force Base and is fully tenant-occupied by long-standing tenants. Its bay layout, loading access, and existing occupancy provide a defined operating configuration for industrial users and investors seeking an established commercial asset.
Key Highlights
- 10,000‑square‑foot manufacturing property with six attached bays
- Approximately 15‑foot ceilings throughout the bays
- Each unit includes a 10‑foot roll‑up door
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
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 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?
Manufacturing property - Multi-tenant industrial configuration with attached bays, roll-up access, paved parking, and full occupancy.
Where is this manufacturing property located?
The property is located at 9921 Southern Blvd 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: 10,000‑square‑foot manufacturing property with six attached bays; Approximately 15‑foot ceilings throughout the bays; Each unit includes a 10‑foot roll‑up door
