Commercial Real Estate Market in Albuquerque, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,544 active listings and 14,212 off-market properties in Albuquerque, NM. Commercial property asks $150/SF to buy and $22.41/SF/Yr to lease.
Market Trends
Albuquerque, NM spans 751.1 square miles in Bernalillo County, New Mexico. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Albuquerque, NM asks $18.22/SF/Yr to lease. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in West region
Retail
Retail space in Albuquerque, NM asks $19.10/SF/Yr to lease. Vacancy runs 5.5% in 2025, down from 7.8% in 2019. Down from a 2020 peak of 8.4%.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Industrial
Industrial space in Albuquerque, NM asks $13.03/SF/Yr to lease. Vacancy runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Albuquerque, NM runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 51.4%
- Mixed use 26.2%
- Civic 15.3%
- Commercial 3.1%
- Planned_development 2.2%
Largest Zones share of zoned land by district
Non Residential Parks And Major Public Open Space
Planned Community
Single Family Residential
Non Residential Sensitive Use
Single Family Residential
Non Residential Parks And Major Public Open Space (NR-PO-B)
It is intended to protect the natural character of designated private and public parks and open space for public recreation, use, and enjoyment. Primary uses are open space and related recreation facilities, picnic and other shelters, and service or maintenance facilities.
Market overview
Demographics & Economy
Albuquerque, NM has 715,448 residents in 314,362 households. Density runs 953 people per square mile. Median household income here is $69,475 and median gross rent $1,188 a month.
715,448
Population
314,362
Households
2.3
Avg Household Size
39
Median Age
36%
College-Educated
90%
High-School Grad
751.1 sq mi
ZIP Area
953
Density / Sq Mi
$69,475
Median Household Income
$42,195
Median Earnings
$1,188
Median Rent
$272,024
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Rio Rancho | — | $18.17 |
| Corrales | — | — |
| Tijeras | — | — |
Commercial property in Albuquerque, NM asks $150/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Albuquerque?
Commercial property in Albuquerque, NM asks an average of $150 per square foot.
How much does it cost to lease commercial space in Albuquerque?
Asking lease rates in Albuquerque, NM average $22.41 per square foot per year. Office asks $18.22/SF/Yr as of Q2 26, little changed from $18.49/SF/Yr in Q1 26.
Where does Realmo's Albuquerque market data come from?
Realmo compiles Albuquerque, NM figures from 2 recent recorded sales, 1,100 active sale listings, 444 active lease listings, 14,212 tracked off-market properties, the current Albuquerque zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1,100 active for-sale and 444 active for-lease listings in Albuquerque, NM. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 103,563 zoned acres across 28 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, industrial vacancy is reported at West region level and multifamily vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
