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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1115 Griegos NW Rd Albuquerque, NM 87107-3750

    • Retail space
    • 2,424 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0287449
    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

    • Nobody Calls Me Chicken Food Truck / Restaurant
    • La Luz Coffee / Cafe & Coffee Shop

    Property Details for 1115 Griegos NW Rd

    Year built
    1979
    Lot size
    0.30 lot acres
    Property size
    2,424 SF
    Property type
    Retail space
    APN
    1-014-061-167-079-3-06-05
    APU
    101406116707930605

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.651
    Latitude
    35.1333
    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
    $2,701
    $17,765
    $31,062
    $48,827
    -
    $53,301
    $93,195
    $146,496

    Comparable in this City

    • Value Estimation by Request
      0.48 Acres

      335 Los Ranchos NW Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.48 Acres
      335 Los Ranchos NW Rd, Los Ranchos, NM 87107-6515
      View Details
    • Value Estimation by Request
      0.06 Acres

      5921 4th NW St

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      5921 4th NW St, Albuquerque, NM 87107-5305
      View Details
    • Value Estimation by Request
      1,599 SF

      5813 4th NW St

      RETAIL STORES (PERSONAL SERVICES) • 1,599 SF
      5813 4th NW St, Albuquerque, NM 87107-5304
      View Details
    • Value Estimation by Request
      3,000 SF

      6807 4th NW St

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      6807 4th NW St, Los Ranchos, NM 87107-6116
      View Details
    • Value Estimation by Request
      1,500 SF

      4012 2nd NW St

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      4012 2nd NW St, Albuquerque, NM 87107-2243
      View Details
    • Value Estimation by Request
      3,200 SF

      6528 4th NW St

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      6528 4th NW St, Los Ranchos, NM 87107-5813
      View Details

    Similar Nearby for Sale

    • $1,950,000
      20,000 SF

      Albuquerque Retail Investment Opportunity

      Fully occupied retail center with attractive income potential in Albuquerque.
      4200-4232 Carlisle Blvd NE, Albuquerque, NM 87107
      View Details
    • $1,950,000
      20,000 SF

      Retail Property Investment Opportunity

      Established retail property with attractive rental income potential.
      4200 Carlisle Blvd NE, Albuquerque, NM 87107
      View Details
    • $2,050,000
      12,209 SF

      Albuquerque Auto Shop Investment

      High-Cap Rate Retail/Industrial
      4200 4Th St, Albuquerque, NM 87107
      View Details
    • $350,000
      1,628 SF

      Northwest Albuquerque Car Wash

      Car wash with service station layout in great location.
      1201 Candelaria Rd NW, Albuquerque, NM 87107
      View Details
    • $910,000
      0.38 Acres

      Albuquerque Build-to-Suit Land

      Prime .38-acre commercial lot, high visibility.
      0 Swc Menaul And Carlisle, Albuquerque, NM 87107
      View Details
    • $270,000

      Albuquerque Retail Land Opportunity

      Prime NW Albuquerque lot, multi-use potential.
      224 Montano Rd, Albuquerque, NM 87107
      View Details

    Similar Nearby for Lease

    • $2,800 /Mo
      13,068 SF

      Free-Standing Commercial Building For Lease

      Versatile commercial building suitable for various small business uses.
      3915 4Th St NW, Albuquerque, NM 87107
      View Details
    • $975 /Mo
      700 SF

      Retail Space in Los Ranchos

      First generation retail spaces in walkable Los Ranchos location.
      6538 4Th St NW, Los Ranchos, NM 87107
      View Details
    • $18 SF/Yr
      91,482 SF

      American Square Retail Center

      Albuquerque Retail Space - 5 Units Available
      3301 Menaul Blvd, Albuquerque, NM 87107
      View Details
    • $20 SF/Yr
      4,979 SF

      Los Ranchos Flexible Retail/Office

      Versatile 5,035 SF space in prime Los Ranchos location.
      6934 4Th St NW, Los Ranchos, NM 87107
      View Details
    • $1,800 /Mo
      69,696 SF

      Retail Space in Los Ranchos

      Move-in ready retail spaces in walkable Los Ranchos location.
      350 Osuna Rd NW, Los Ranchos, NM 87107
      View Details
    • $17 SF/Yr
      4,093 SF

      Retail Space in Albuquerque, NM

      Neighborhood center with national brand tenants and high traffic.
      4801 Montano Rd NW, Albuquerque, NM 87107
      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.
    1115 Griegos NW Rd
    Albuquerque, NM 87107-3750
    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.