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

    2006 Southern SE Blvd Rio Rancho, NM 87124-3764

    • Investment properties
    • 16,232 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Apr 14, 2021
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0156475
    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

    • Investment properties

    Property Details for 2006 Southern SE Blvd

    Year built
    1986
    Lot size
    0.64 lot acres
    Property size
    16,232 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    1-011-068-378-334
    APU
    1011068378334

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $753,000
      Market price range: $754k - $1.50M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rio Rancho
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.696
    Latitude
    35.2411
    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
    $11,485
    $39,308
    $236,067
    $275,375
    -
    $117,924
    $708,200
    $826,124

    Comparable in this City

    • Value Estimation
      $2,745,000
      14,278 SF

      1207 Golf Crse SE Rd

      STORE/OFFICE (MIXED USE) • 14,278 SF
      1207 Golf Crse SE Rd, Rio Rancho, NM 87124-1999
      View Details
    • Value Estimation
      $725,000
      4,028 SF

      1728 Abrazo NE Rd

      STORE/OFFICE (MIXED USE) • 4,028 SF
      1728 Abrazo NE Rd, Rio Rancho, NM 87124-0781
      View Details
    • Value Estimation
      $1,970,000
      10,247 SF

      1904 Wellspring SE Ave

      STORE/OFFICE (MIXED USE) • 10,247 SF
      1904 Wellspring SE Ave, Rio Rancho, NM 87124-4888
      View Details
    • Value Estimation
      $645,000
      3,361 SF

      2104 Southern SE Blvd

      STORE/OFFICE (MIXED USE) • 3,361 SF
      2104 Southern SE Blvd, Rio Rancho, NM 87124-3790
      View Details
    • Value Estimation
      $870,000
      4,537 SF

      470 Frontage Rd Nesuitea

      STORE/OFFICE (MIXED USE) • 4,537 SF
      470 Frontage Rd Nesuitea, Rio Rancho, NM 87124
      View Details
    • Value Estimation
      $2,200,000
      12,153 SF

      1690 Rio Rancho SE Blvd

      STORE/OFFICE (MIXED USE) • 12,153 SF
      1690 Rio Rancho SE Blvd, Rio Rancho, NM 87124-6602
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.07 Acres

      Rio Rancho Commercial Land

      Mixed-use land, prime location.
      0 Sec Unser Blvd & Westside Blvd, Rio Rancho, NM 87124
      View Details
    • $348,480
      1.00 Acre

      Rio Rancho Commercial Land - 1 Acre

      Prime Commercial Lot, Rio Rancho, NM.
      & Moccasin Northern Blvd, Rio Rancho, NM 87124
      View Details
    • $880,000

      Rio Rancho Commercial Land for Sale

      1.94-acre C-1 zoned lot, prime location.
      1350 Southern Blvd, Rio Rancho, NM 87124
      View Details
    • $88,000
      0.50 Acres

      Rio Rancho Estate Lot - 0.5 Acres

      Build Your Dream Home in Rio Rancho
      0 6Th St, Rio Rancho, NM 87124
      View Details
    • Contact for pricing
      3.75 Acres

      Rio Rancho Commercial Land Opportunity

      3.75 Acres, C-1 Zoning, High Traffic
      0 Unser Blvd & Cabezon Blvd, Rio Rancho, NM 87124
      View Details
    • Contact for pricing
      13.40 Acres

      Rio Rancho Development Land

      13.4 Acres, Prime Location, High Demand
      0 5Th St, Rio Rancho, NM 87124
      View Details

    Similar Nearby for Lease

    • $349,000
      1,774 SF

      Restaurant Space Near Downtown CBD

      Restaurant-ready space with high visibility and existing infrastructure.
      2501 4Th St NW, Albuquerque, NM 87124
      View Details
    • $38 SF/Yr
      1,500 SF

      Retail/Office/Restaurant Space Available

      Shell space ideal for retail, restaurant, office, or medical uses.
      1141 Commercial Dr SE, Rio Rancho, NM 87124
      View Details
    • $30 SF/Yr
      1,200 SF

      Retail Space Near Walmart

      Retail space available across from Walmart Supercenter & Chick-Fil-A.
      1121 Unser Blvd SW, Rio Rancho, NM 87124
      View Details
    • $30 SF/Yr
      1,440 SF

      Retail Space Near Walmart

      Retail space with high visibility near a busy intersection.
      1101 Rio Rancho Dr SE, Rio Rancho, NM 87124
      View Details
    • $10 SF/Yr
      35,185 SF

      Albuquerque Warehouse with Dock Access

      35,185 SF warehouse featuring dock access and ample power.
      7110 2Nd St NW, Albuquerque, NM 87124
      View Details
    • Contact for pricing

      Commercial Pad Sites For Lease

      Retail center pad sites for lease in Rio Rancho.
      3801 Northern Blvd NE, Rio Rancho, NM 87124
      View Details
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    Rio Rancho, NM 87124-3764
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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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