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Property profile & analytics
FOR LEASE
Office buildings
1120 Pennsylvania St NE Albuquerque, NM 87110
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US61-0185065
For Lease
1 / 2
Contact for pricing
1120 Pennsylvania St NE, Albuquerque, NM 87110
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Property summary
AI-generated overview
This exceptional two-story, 15,655 square foot Class B office building presents a compelling investment opportunity in Albuquerque's Northeast Heights. Situated on a one-acre lot at 1120 Pennsylvania St NE, 87110, this stand-alone property boasts convenient access to I-40 and Uptown. Built in 1988 and extensively renovated in 2018, the building features a new roof (2022), updated restrooms and flooring, fresh paint, and abundant natural light from windows throughout. The efficient HVAC system includes a new rooftop chiller (2018) and new pumps (2022, 2023), along with lighting upgrades for energy efficiency. The property includes a building security system, elevator access to the second floor, and ample parking (3.5 spaces per 1,000 sq ft). Currently housing two tenants, this multi-tenant property offers immediate income potential. Zoned MX-T, this property is perfect for an owner-user seeking income-generating potential. High-speed internet access is available via Lumen fiber and Comcast. The asking price is $2,500,000. Bernalillo County APN: 101905829010840819.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1986
Total area
16,656 SF
Lot
1 ac (43,560 SF)
APN
1-019-058-290-108-4-08-19
UPID
US61-0185065
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Apex Insurance Agency Insurance Agency
-
Companion Care Home Health Care Service
-
Consumer Direct Care Network New Mexico Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$900k
Owner & transaction history
607 Southwest Higgins LLC · 9 yrs held
607 Southwest Higgins LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+26.1%
Retail stores
$1.3M
+8.0%
Apartment house (5+ units)
$1.2M
+0.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albuquerque submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albuquerque submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,165,000
Current use
AUTO REPAIR, GARAGE
$1,475,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$1,260,000
Change: +8% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,170,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$970,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$900k
Range $810k – $990k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$54 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$20,119
Tax year 2023
Assessed value
$419,352
Assessed 2023
Previous assessed
$381,228
+10.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$100,127
Assessed improvement
$319,225
Land market value
$300,410
Improvement market value
$957,770
Total market value
$1,258,180
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1986
Heating
NONE
Total area
16,656 SF
Lot
1 ac (43,560 SF)
APN
1-019-058-290-108-4-08-19
UPID
US61-0185065
Jurisdiction
BERNALILLO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$970,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
607 Southwest Higgins LLC
Entity
Mailing address
100 CONSUMER DIRECT WAY #428, MISSOULA, MT 59808-5037
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2017
—
607 Southwest Higgins LLC
Pennsylvania Office LLC
Grant Deed
$806,250 · Bank Of Mt
Apr 28, 2009
—
Pennsylvania Office LLC
Johnson Eric D & D U Trust
Quit Claim Deed
related
—
May 15, 2008
—
Eric D Johnson
Johnson,eric D & Deborah U
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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