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Property profile & analytics
OFF-MARKET
Estimated value
$15,220,000
Outlet malls
2011 12th NW St Albuquerque, NM 87104-2301
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US61-0230573
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2007
Total area
133,599 SF
Lot
11.88 ac (517,319 SF)
APN
1-013-059-451-216-4-05-30
UPID
US61-0230573
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
-
Walgreens Pharmacy
-
Walgreens Pharmacy Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.48M
Blend (final)
Blend
$15.22M
Owner & transaction history
12th Street North LLC · 9 yrs held
12th Street North LLC
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$21.7M
+47.3%
Commercial (general)
$20.8M
+41.0%
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
RETAIL STORES
$14,725,000
Current use
OFFICE BUILDING
$21,690,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$20,760,000
Change: +41% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$14,390,000
Change: -2% · Conversion: Difficult
RESTAURANT
$12,975,000
Change: -12% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,555,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$15.22M
Range $13.70M – $16.74M · ±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
$114 / 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
$174,491
Tax year 2023
Assessed value
$3,154,835
Assessed 2023
Previous assessed
$2,894,344
+9.0% YoY
Effective rate
5.53%
On assessed value
Assessed land
$962,301
Assessed improvement
$2,192,534
Land market value
$2,887,192
Improvement market value
$6,578,259
Total market value
$9,465,451
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2007
Heating
NONE
Units
1
Total area
133,599 SF
Lot
11.88 ac (517,319 SF)
APN
1-013-059-451-216-4-05-30
UPID
US61-0230573
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
RETAIL STORES Current
Est. value
$14.7M
OFFICE BUILDING
Est. value
$21.7M
COMMERCIAL (GENERAL)
Est. value
$20.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.4M
RESTAURANT
Est. value
$13.0M
AUTO REPAIR, GARAGE
Est. value
$12.6M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
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
2007
Heating
NONE
Units
1
Lot
11.88 ac
Current owner
From public records · entity-resolved
12th Street North LLC
Entity
Mailing address
5850 EUBANK BLVD NE STE B62, ALBUQUERQUE, NM 87111-6120
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2017
—
12th Street North LLC
Bf Group LLC
Warranty Deed
$2,300,000 · Bank Of Albuquerque
Feb 17, 2004
—
Mountain Run Partners Ltd
—
Trustees Deed
related
$2,750,000 · First State Bank New Mexico
Jun 12, 2002
—
Mountain Run Partners
Westway Associates Ltd
Grant Deed
$1,725,000 · Compass Bank
—
—
Mountain Run Partners Ltd
—
Deed Of Trust
related
$595,000 · Compass Bank
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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