Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    202 Morningside SE Dr Albuquerque, NM 87108-2633
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    202 Morningside SE Dr Albuquerque, NM 87108-2633

    View on Map
    • Warehouses
    • 8,784 SF
    • 0.52 lot acres
    Off-Market
    Property ID
    US61-0151078
    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
    $845,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Andru Ziwasimon Zeller, MD / Pediatrician / Physician
    • Just Health Care / Medical Clinic
    • Simply Salud / Medical Clinic
    • Donald G. Cornwell, DOM / Alternative Medicine Practice / Acupuncture

    Property Details for 202 Morningside SE Dr

    Year built
    1983
    Lot size
    0.52 lot acres
    Property size
    8,784 SF
    Property type
    Warehouses
    APN
    1-017-057-137-185-3-27-07
    APU
    101705713718532707

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,005,000
      6.5%
      $925,000
      7%
      $860,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $764,000
      Market price range: $440k - $1.06M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $710,000
      Current use
      RESTAURANT
      $1,065,000
      Change: +51% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $975,000
      Change: +38% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $960,000
      Change: +36% Conversion: Difficult
      RETAIL STORES
      $950,000
      Change: +34% Conversion: Moderate
      OFFICE BUILDING
      $930,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.6
    Latitude
    35.078
    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
    $6,772
    $28,103
    $113,052
    $141,155
    -
    $84,316
    $339,190
    $423,506

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      503 Monroe SE St

      WAREHOUSE, STORAGE • 0.08 Acres
      503 Monroe SE St, Albuquerque, NM 87108-3503
      View Details
    • Value Estimation by Request
      0.16 Acres

      310 Florida SE St

      WAREHOUSE, STORAGE • 0.16 Acres
      310 Florida SE St, Albuquerque, NM 87108-3027
      View Details
    • Value Estimation by Request
      0.17 Acres

      Central

      MINI-WAREHOUSE, STORAGE • 0.17 Acres
      Central, Albuquerque, NM 87108
      View Details
    • Value Estimation by Request
      750 SF

      6922 Cochiti SE Rd

      WAREHOUSE, STORAGE • 750 SF
      6922 Cochiti SE Rd, Albuquerque, NM 87108-3112
      View Details
    • Value Estimation by Request
      1,649 SF

      143 Madison NE St

      WAREHOUSE, STORAGE • 1,649 SF
      143 Madison NE St, Albuquerque, NM 87108-1238
      View Details
    • Value Estimation by Request
      864 SF

      119 Utah NE St

      WAREHOUSE, STORAGE • 864 SF
      119 Utah NE St, Albuquerque, NM 87108-2401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,075 SF

      Secured Warehouse with Yard

      Secure warehouse with yard in northeast Albuquerque for sale.
      129 Rhode Island St NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      9,500 SF

      Industrial Property with Roll-Up Doors

      Two industrial properties with multiple roll-up doors for sale.
      201 Dallas St NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      8,000 SF

      Freestanding Industrial Warehouse with Fenced Yard

      8,000 SF industrial warehouse with office buildout and fenced yard.
      147 Texas St NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      7,533 SF

      Cannabis Friendly Warehouse For Sale

      Warehouse with two overhead doors and three-phase power.
      5409 Acoma Rd SE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      9,500 SF

      Industrial Property with Owner Financing

      Two industrial buildings with flexible options and convenient access.
      210 Dallas St NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      3,129 SF

      Central Avenue Commercial Property

      Renovated commercial property with fenced yard and high visibility.
      6610 Central Ave SE, Albuquerque, NM 87108
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr

      Industrial Property with Fenced Yard

      Three-building industrial property with a large fenced yard for lease.
      6825 Zuni Rd Southeast, Albuquerque, NM 87108
      View Details
    • $3,750 /Mo
      5,765 SF

      Secure Warehouse with Fenced Yard

      Warehouse with secure access, flexible zoning, and fenced yard.
      6916 Cochiti Rd SE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      6,200 SF

      Office or Flex Space Available

      6,200 SF office/flex space with fenced yard/parking.
      5600 Domingo Rd NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing
      5,358 SF

      Centrally Located Flex/Industrial Space

      Flex/industrial space for rent, near I-40 and Expo New Mexico.
      217-221 San Pedro Dr NE, Albuquerque, NM 87108
      View Details
    • Contact for pricing

      Retail Space in Densely Populated Area

      Retail space in Albuquerque's established, high-traffic in-fill area.
      301 San Mateo Blvd SE, Albuquerque, NM 87108
      View Details
    • Contact for pricing

      Drive-Thru Restaurant on Central Ave

      Large drive-thru restaurant space available on a hard corner.
      5201 Central Ave NE, Albuquerque, NM 87108
      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.
    202 Morningside SE Dr
    Albuquerque, NM 87108-2633
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!