Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    98th St. & Bluewater Rd Albuquerque, NM 87121

    • Land
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 98th St. & Bluewater Rd

    Lot size
    1.24 lot acres
    Property type
    Land

    Description

    This exceptional 1.24-acre commercial land parcel presents a rare investment opportunity in Albuquerque, New Mexico. Situated at the intersection of 98th Street and Bluewater Road, this property boasts a highly desirable location within a thriving mixed-use trade area. The site is zoned NR-BP (Non-Residential Business Park), allowing for a variety of commercial uses. With almost 40,000 cars passing daily and over 900 linear feet of frontage on 98th Street, this location offers unparalleled visibility and accessibility. The property has already received approvals for two direct curb cuts on 98th Street and is approved for drive-thru facilities, subject to final plat submittal. Benefiting from the proximity to an interstate exit and ongoing traffic improvements, including enhancements to Bluewater Road and a traffic signal, this site is poised for significant growth. This is the last remaining pad site, making it an exceptional opportunity for businesses seeking high visibility and convenient access in a rapidly developing area of Albuquerque, zip code 87121. Don't miss this chance to secure a prime location in a high-traffic area with established infrastructure and strong retail sales.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.744
    Latitude
    35.0787

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      10307 Central Ave

      Land • 10.00 Acres
      10307 Central Ave, Albuquerque, NM 87121
      View Details
    • Value Estimation by Request
      10.76 Acres

      98th St. & Sage Rd

      Land • 10.76 Acres
      98th St. & Sage Rd, Albuquerque, NM 87121
      View Details
    • Value Estimation by Request
      1.00 Acre

      & Los Volcanes Swc Unser Blvd

      Land • 1.00 Acre
      & Los Volcanes Swc Unser Blvd, Albuquerque, NM 87121
      View Details
    • Value Estimation by Request
      1.00 Acre

      98th St. & Sage Rd

      Land • 1.00 Acre
      98th St. & Sage Rd, Albuquerque, NM 87121
      View Details
    • Value Estimation by Request
      1.92 Acres

      Bridge Blvd

      Land • 1.92 Acres
      0 Bridge Blvd, Albuquerque, NM 87121
      View Details
    • Value Estimation by Request
      4.30 Acres

      Nec Of Unser Blvd And Tower Rd

      Land • 4.30 Acres
      0 Nec Of Unser Blvd And Tower Rd, Albuquerque, NM 87121
      View Details

    Similar Nearby for Sale

    • $572,271
      25.00 Acres

      I-40 Albuquerque Commercial Land

      25 Acres, High Visibility, M-1 Zoning
      I-40 & Rio Puerco Rd, Albuquerque, NM 87121
      View Details
    • $596,000
      3.76 Acres

      Albuquerque Commercial Land - $596K

      3.76-Acre RV & Boat Storage Site
      2820 Pura Vida Way, Albuquerque, NM 87121
      View Details
    • $1,300,000
      51.00 Acres

      Prime Albuquerque Commercial Land

      51 Acres, C-1 Zoning, $1.3M
      114th 114 St, Albuquerque, NM 87121
      View Details
    • $3,000,000
      10.00 Acres

      10 Acres M-1 Zoned Land, Albuquerque

      Albuquerque industrial land, owner financing.
      10307 Central Ave, Albuquerque, NM 87121
      View Details
    • $16,209,983
      37.40 Acres

      Prime Albuquerque Commercial Land

      37.4 Acres, I-40 & Unser Blvd
      0 Swc Interstate 40 & Unser Blvd, Albuquerque, NM 87121
      View Details
    • $475,000
      2.00 Acres

      Albuquerque Commercial Land - $475K

      Two-acre lot, ideal owner-user, prime location.
      10405 Central Ave, Albuquerque, NM 87121
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Westpointe Industrial Land Opportunity

      ±80 Acres, I-40 Access, Development Ready
      40 98Th St, Albuquerque, NM 87121
      View Details
    • $38,896

      7601 Nw -

      Land • 2.30 Acres
      7601 Nw -, Albuquerque, NM 87121
      View Details
    • Contact for pricing
      1 SF

      Albuquerque Retail Pad Site

      Prime 3.5-Acre Commercial Land
      0 Sec Coors & Blake, Albuquerque, NM 87121
      View Details
    • Contact for pricing
      222,592 SF

      Prime Albuquerque Pad Sites

      Central & Unser: Retail/Restaurant Land
      0 And Unser Blvd, Albuquerque, NM 87121
      View Details
    • Contact for pricing
      7,000 SF

      High-Traffic Albuquerque Corner Lot

      Prime Commercial Land, 0.69 Acres
      400 Unser Blvd, Albuquerque, NM 87121
      View Details
    • $0.50 SF/Yr
      1 SF

      West Mesa Commercial Land Opportunity

      6.2-Acre Lot, Excellent Zoning
      9525 Central Ave, Albuquerque, NM 87121
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    98th St. & Bluewater Rd
    Albuquerque, NM 87121
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.