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    Property profile & analytics

    8814 Horizon Blvd Albuquerque, NM 87113

    • Individual retail properties
    • 21,208 SF
    • 3.28 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Last Sale
    Jan 25, 2022
    Value Estimations
    $585,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0276477
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Weststar Mortgage Corporation / Mortgage Lender
    • Teresa Hanlon / Emergency Care Physician
    • Tubs Dumpsters / Garbage Collection Service
    • Hospitality AI / Software Company

    Property Details for 8814 Horizon Blvd

    Year built
    1996
    Lot size
    3.28 lot acres
    Property size
    21,208 SF
    Property type
    Individual retail properties
    APN
    1-017-064-042-485-2-02-23
    APU
    101706404248520223

    Description

    This exceptional Albuquerque office space, located at 8814 Horizon Blvd, offers 4,659 square feet of vacant, modern, and move-in ready traditional office space. Situated in the North I-25 submarket of Bernalillo County, this single-level building boasts a separate entrance and minimal common areas, maximizing efficiency and privacy. Enjoy abundant natural light and high ceilings within a super modern design. The property features convenient on-site amenities including a fitness room equipped with exercise equipment, showers, and lockers. Parking is generous, with a 5:1000 ratio. The location provides easy access to outdoor recreation, with adjacent walking paths and stunning views of the mountains and Bosque. Commuting is a breeze, with I-25 just one mile away, offering seamless access to the West Side. This property fosters a campus-like environment, creating a collaborative and pleasant atmosphere. Note that the office area is shared with the building owner. The property is zoned MX-L. This is a unique opportunity to secure a prime office space in a desirable Albuquerque location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $665,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $502,000
      Market price range: $503k - $1.05M

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $715,000
      Current use
      AUTO REPAIR, GARAGE
      $905,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $895,000
      Change: +25% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.603
    Latitude
    35.1877
    CBSA code
    10740
    CBSA name
    ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,609
    $145,505
    $304,916
    $450,421
    -
    $436,560
    $914,838
    $1,351,398

    Comparable in this City

    • Value Estimation
      $835,000
      35,168 SF

      7800 Las Lomitas NE

      GYM, HEALTH SPA • 35,168 SF
      7800 Las Lomitas NE, Albuquerque, NM 87113-1646
      View Details
    • Value Estimation
      $750,000
      26,164 SF

      6200 Alameda NE Blvd

      GYM, HEALTH SPA • 26,164 SF
      6200 Alameda NE Blvd, Albuquerque, NM 87113-2641
      View Details
    • Value Estimation
      $260,000
      0.34 Acres

      533 Osuna NE Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.34 Acres
      533 Osuna NE Rd, Albuquerque, NM 87113
      View Details
    • Value Estimation
      $1,145,000
      43,332 SF

      8400 Pan American NE Fwy

      RETAIL STORES (PERSONAL SERVICES) • 43,332 SF
      8400 Pan American NE Fwy, Albuquerque, NM 87113-1832
      View Details
    • Value Estimation
      $655,000
      14,606 SF

      6200 Paseo Del Norte NE

      DRUG STORE, PHARMACY • 14,606 SF
      6200 Paseo Del Norte NE, Albuquerque, NM 87113-1712
      View Details
    • Value Estimation
      $320,000
      5,280 SF

      6230 Paseo Del Norte NE

      RETAIL STORES (PERSONAL SERVICES) • 5,280 SF
      6230 Paseo Del Norte NE, Albuquerque, NM 87113-2568
      View Details

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    Similar Nearby for Lease

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    • $23 SF/Yr
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      Albuquerque Office Space: North I-25

      Modern, move-in ready office space in Albuquerque.
      8814 Horizon Blvd, Albuquerque, NM 87113
      View Details
    • $13 SF/Yr
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      View Details
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    Albuquerque, NM 87113
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    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
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