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    1920 Lead Ave Albuquerque, NM 87106

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    1920 Lead Ave Albuquerque, NM 87106

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    • Commercial real estate
    • 2,050 SF
    • 0.21 lot acres
    Off-Market
    Property ID
    US61-0169245
    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 1920 Lead Ave

    Year built
    1935
    Lot size
    0.21 lot acres
    Property size
    2,050 SF
    Property type
    Commercial real estate
    APN
    101505743017641621

    Description

    This exceptional Albuquerque fourplex, located at 1920 Lead Ave SE, presents a compelling investment opportunity. Situated near Roosevelt Park, CNM, UNM Hospital, and downtown, this property boasts a prime location just two blocks from Presbyterian Hospital. Built in 1935 and extensively renovated in 2023, the property features two buildings, each two stories high, encompassing a total of 2,050 square feet on a 0.209-acre lot. Recent upgrades include a new roof, thermal windows, updated electrical service, and zoned mini-split heating and cooling systems in all four units. Each apartment showcases a unique floor plan with contemporary finishes. The property offers significant value-add potential through the creation of additional common and private yard spaces or the addition of more apartments. A large lot provides ample off-street parking accessible from both the alley and Lead Avenue. A detached garage, separately metered for electricity, could be converted into an additional unit or rented for extra income. The property is zoned R-ML. The asking price is $599,237, representing a price per unit of $149,809.25 and a price per square foot of $292.31. The current NOI is $35,379, with a pro-forma NOI of $44,694, resulting in a current cap rate of 5.90% and a pro-forma cap rate of 7.46%. This property offers a rare combination of location, recent renovations, and significant upside potential in a rapidly growing market.

    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
    -106.6250454496
    Latitude
    35.078106775237

    Comparable in this City

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    Similar Nearby for Sale

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      17,980 SF

      Furnished Apartment Complex For Sale

      Furnished apartment complex with utilities included and on-site parking.
      1801-1821 Lead Ave SE, Albuquerque, NM 87106
      View Details
    • $1,012,500
      4,805 SF

      Updated Multifamily Compound in Albuquerque

      Revitalized 7-unit compound near UNM, CNM, and Kirtland AFB.
      1003-1005 Carlisle Blvd SE, Albuquerque, NM 87106
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      Albuquerque Multifamily Property with Casita

      Multifamily property featuring a main house and detached casita.
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      Southeast Albuquerque Fourplex with Residence

      All-brick fourplex with owner's residence in Southeast Albuquerque.
      3417 Thaxton Ave, Albuquerque, NM 87106
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    • $305,000
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      Albuquerque Duplex with Updated Interiors

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      University Area Fourplex Opportunity

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    Similar Nearby for Lease

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      Retail Spaces Available For Rent

      Retail spaces available, ranging from 425 to 1,690 SqFt.
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      Office Spaces Available for Rent

      Office spaces ranging from 1,411 to 7,696 SqFt available.
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      4,135 SF

      Office Space For Lease

      Office spaces available for lease in the Airport Market.
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    • $24 SF/Yr
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      Mixed-Use Retail and Restaurant Space

      Eclectic retail and restaurant spaces near the University of New Mexico.
      122 Yale Blvd SE, Albuquerque, NM 87106
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      1,103 SF

      Retail Space Available For Rent

      Retail space available for rent, approximately 1103 square feet.
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      Existing Tire Shop For Sale

      Operating tire shop with development potential in Albuquerque, New Mexico.
      501 Yale Blvd SE, Albuquerque, NM 87106
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    Albuquerque, NM 87106
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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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