Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    11620 Wilshire Ave Albuquerque, NM 87122
    Back to Search
    Property profile & analytics

    11620 Wilshire Ave Albuquerque, NM 87122

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US61-0290853
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 11620 Wilshire Ave

    Property type
    Commercial real estate

    Description

    This exceptional .89-acre (38,768 sq ft) farm/ranch property in Albuquerque, New Mexico, presents a unique opportunity for building a custom home. Located at 11620 Wilshire Avenue NE, 87122, this level lot boasts an enviable location with convenient access to major roadways like Paseo Del Norte, Eubank, and Tramway. The property is situated within the highly desirable North Albuquerque Academy (NAA) school district, ensuring access to top-rated schools including Double Eagle Elementary, Desert Ridge Middle School, and La Cueva High School. A significant advantage is the absence of arroyos, simplifying construction and landscaping. The lot's flat terrain further enhances its buildability. A boundary survey is readily available for prospective buyers. This is an exceptional opportunity to build your dream home in a prestigious Albuquerque neighborhood surrounded by other upscale custom residences. The asking price for this remarkable property is $345,000. Don't miss this chance to secure this prime piece of Albuquerque real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.509991
    Latitude
    35.180966

    Comparable in this City

    • $288,800
      0.89 Acres

      Albuquerque Land with Unobstructed Views

      Land in Albuquerque with 360-degree views and custom home potential.
      12110 Palomas Ave NE, Albuquerque, NM 87122
      View Details
    • $375,000
      1.24 Acres

      Albuquerque Land on Prestigious Street

      1.24 acre build site on Albuquerque's most prestigious streets.
      10650 Elena Ave NE, Albuquerque, NM 87122
      View Details
    • $169,400
      0.89 Acres

      Residential Land with Mountain Views

      0.89-acre lot with mountain and city views in Albuquerque.
      10000 Oakland Ave NE, Albuquerque, NM 87122
      View Details
    • $399,000
      0.89 Acres

      Land For Dream Home

      Opportunity to build a custom home with available views.
      Del Rey Ave NE, Albuquerque, NM 87122
      View Details
    • $225,000
      0.89 Acres

      Land with Mountain Views

      Residential land with utilities access and mountain views in Albuquerque.
      10510 San Bernardino Ave NE, Albuquerque, NM 87122
      View Details
    • $400,000
      0.88 Acres

      Albuquerque Land with City Utilities

      Residential land in North Albuquerque Acres with city water/sewer access.
      7301 Beverly Hills Ave NE, Albuquerque, NM 87122
      View Details

    Similar Nearby for Sale

    • $288,800
      0.89 Acres

      Albuquerque Land with Unobstructed Views

      Land in Albuquerque with 360-degree views and custom home potential.
      12110 Palomas Ave NE, Albuquerque, NM 87122
      View Details
    • $695,000
      3.56 Acres

      Albuquerque Land Investment Opportunity

      3.56 acres of land in Albuquerque's Northeast Heights.
      8600 Glendale Ave NE, Albuquerque, NM 87122
      View Details
    • $225,000
      0.89 Acres

      Albuquerque Land with Mountain Views

      Level land with utilities nearby and mountain views in Albuquerque.
      11250 Corona Ave NE, Albuquerque, NM 87122
      View Details
    • New
      $230,000
      0.89 Acres

      Land in North Albuquerque Acres

      Desirable semi-rural neighborhood with larger lots and easy city access.
      9511 Alameda Blvd NE, Albuquerque, NM 87122
      View Details
    • New
      $230,000
      0.81 Acres

      Land in North Albuquerque Acres

      Desirable semi-rural neighborhood with larger lots and easy city access.
      9521 Alameda Blvd NE, Albuquerque, NM 87122
      View Details
    • $375,000
      1.24 Acres

      Albuquerque Land on Prestigious Street

      1.24 acre build site on Albuquerque's most prestigious streets.
      10650 Elena Ave NE, Albuquerque, NM 87122
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease or Build-to-Suit

      Highly accessible land with frontage along I-25 available for lease.
      8200 Carmel Ave NE, Albuquerque, NM 87122
      View Details
    • Contact for pricing
      16,212 SF

      Industrial Warehouse with Fenced Yard

      Industrial warehouse featuring drive-in and dock doors, fenced yard.
      4432 Anaheim Ave NE, Albuquerque, NM 87122
      View Details
    • Contact for pricing
      1,775 SF

      Retail Space at Busy Intersection

      Retail space available at a high-traffic Albuquerque intersection.
      8000 Paseo Del Norte NE, Albuquerque, NM 87122
      View Details
    • $25 SF/Yr
      1,200 SF

      Retail Space Near Trader Joe’s

      Retail space available in high-income area anchored by Trader Joe’s.
      8850 Holly Ave NE, Albuquerque, NM 87122
      View Details
    • Contact for pricing

      Retail Space Available

      Retail space for rent in Albuquerque, New Mexico.
      7697-7797 Palomas Ave NE, Albuquerque, NM 87122
      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.
    11620 Wilshire Ave
    Albuquerque, NM 87122
    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

    Thank You for Inquiry
    11620 Wilshire Ave, Albuquerque, NM, 87122
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!