Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2117 Menaul NE Blvd Albuquerque, NM 87107-1747

    • Office buildings
    • 3,730 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0255721
    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

    • New Day Spa / Alternative Medicine Practice / Spa & Massage Center
    • Green Central Station / (Bike/Boat/Book/etc) Store
    • Health Spa / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 2117 Menaul NE Blvd

    Year built
    1965
    Lot size
    0.33 lot acres
    Property size
    3,730 SF
    Property type
    Office buildings
    APN
    1-016-059-068-277-2-15-02
    APU
    101605906827721502

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.62
    Latitude
    35.1095
    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
    $4,139
    $30,870
    $55,398
    $86,268
    -
    $92,620
    $166,210
    $258,830

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      3201 4th NW St

      PROFESSIONAL BUILDING • 0.08 Acres
      3201 4th NW St, Albuquerque, NM 87107-1351
      View Details
    • Value Estimation by Request
      0.16 Acres

      4903 4th NW St

      PROFESSIONAL BUILDING • 0.16 Acres
      4903 4th NW St, Albuquerque, NM 87107-3905
      View Details
    • Value Estimation by Request
      0.19 Acres

      146 Headingly NW Ave

      PROFESSIONAL BUILDING • 0.19 Acres
      146 Headingly NW Ave, Albuquerque, NM 87107-2248
      View Details
    • Value Estimation by Request
      0.13 Acres

      5047 Edith NE Blvd

      PROFESSIONAL BUILDING • 0.13 Acres
      5047 Edith NE Blvd, Albuquerque, NM 87107-4126
      View Details
    • Value Estimation
      $3,535,000
      26,033 SF

      4100 Pan American NE Fwy

      PROFESSIONAL BUILDING • 26,033 SF
      4100 Pan American NE Fwy, Albuquerque, NM 87107-4752
      View Details
    • Value Estimation by Request
      2,835 SF

      405 Montano NW Rd

      PROFESSIONAL BUILDING • 2,835 SF
      405 Montano NW Rd, Albuquerque, NM 87107-5222
      View Details

    Similar Nearby for Sale

    • $4,300,000
      59,628 SF

      Professional Office Park with Visibility

      Professional office park with high visibility and access.
      2340 Menaul Blvd NE, Albuquerque, NM 87107
      View Details
    • $4,900,000
      24,400 SF

      Class A Office Building

      24,400 SF office building with great visibility and access.
      4333 Pan American Fwy NE, Albuquerque, NM 87107
      View Details
    • $390,000
      2,103 SF

      Albuquerque Creative Office Space

      Vacant, 2,103 sq ft, $390,000
      5717 Edith Blvd, Albuquerque, NM 87107
      View Details
    • $380,000
      2,103 SF

      North Valley Live/Work Office

      Live/work office space in the heart of North Valley.
      5717 Edith Blvd NE, Albuquerque, NM 87107
      View Details
    • $1,416,555
      10,493 SF

      Warehouse/Office Space For Sale

      Two warehouse/office spaces available for purchase.
      2905-2913 Girard Blvd NE, Albuquerque, NM 87107
      View Details
    • $583,500

      Topgolf Pad Site: Albuquerque, NM

      Prime .57-acre commercial land near Topgolf.
      1450 Montaño Rd, Albuquerque, NM 87107
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      59,628 SF

      High-Visibility Office Park Property

      Professional office park with excellent access and visibility.
      2300 Menaul Blvd NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      1,673 SF

      Warehouse, Office, Storage Space

      Warehouse, office, and storage space with gated lot.
      3312 Stanford Dr NE, Albuquerque, NM 87107
      View Details
    • $7 SF/Yr
      1,800 SF

      Office & Warehouse Space Available

      Versatile office and warehouse space in a prime Albuquerque location.
      6204-6208 Edith Blvd NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      5,815 SF

      Spacious Office with Secured Parking

      Open-concept office space with gated parking and natural light.
      1111 Menaul Blvd NE, Albuquerque, NM 87107
      View Details
    • $12 SF/Yr
      3,156 SF

      Office Space Near I-25

      Office space with outstanding I-25 access available for lease.
      4374 Alexander Blvd NE, Albuquerque, NM 87107
      View Details
    • $21 SF/Yr
      8,076 SF

      Unique Office Space in Los Ranchos

      Office space with industrial features near Los Poblanos Open Space.
      1776 Montano Rd NW, Los Ranchos, NM 87107
      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.
    2117 Menaul NE Blvd
    Albuquerque, NM 87107-1747
    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.