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

    2124 San Mateo NE Blvd Albuquerque, NM 87110-5149

    • Grocery and convenience stores
    • 1,485 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Feb 02, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0304021
    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

    • Chevron / Gas Station

    Property Details for 2124 San Mateo NE Blvd

    Year built
    2000
    Lot size
    0.26 lot acres
    Property size
    1,485 SF
    Property type
    Grocery and convenience stores
    APN
    1-018-058-010-525-2-26-12
    APU
    101805801052522612

    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
    -106.586
    Latitude
    35.1016
    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
    $7,880
    $28,591
    $51,516
    $80,107
    -
    $85,783
    $154,562
    $240,345

    Comparable in this City

    • Value Estimation
      $635,000
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      7524 Menaul NE Blvd

      CONVENIENCE STORE • 3,570 SF
      7524 Menaul NE Blvd, Albuquerque, NM 87110-3638
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    • Value Estimation by Request
      1,325 SF

      2016 Carlisle NE Blvd

      CONVENIENCE STORE • 1,325 SF
      2016 Carlisle NE Blvd, Albuquerque, NM 87110-4910
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    • Value Estimation by Request
      1,785 SF

      7011 Lomas NE Blvd

      CONVENIENCE STORE • 1,785 SF
      7011 Lomas NE Blvd, Albuquerque, NM 87110-6949
      View Details
    • Value Estimation by Request
      0.10 Acres

      Menaul NE Blvd

      CONVENIENCE STORE • 0.10 Acres
      Menaul NE Blvd, Albuquerque, NM 87110
      View Details
    • Value Estimation by Request
      2,496 SF

      1801 San Pedro NE Dr

      CONVENIENCE STORE • 2,496 SF
      1801 San Pedro NE Dr, Albuquerque, NM 87110-5949
      View Details
    • Value Estimation by Request
      0.03 Acres

      5200 Menaul NE Blvd

      CONVENIENCE STORE • 0.03 Acres
      5200 Menaul NE Blvd, Albuquerque, NM 87110-3112
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,960 SF

      Retail Space on San Mateo

      Retail property on a hard corner with high traffic.
      2807 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details
    • $1,300,000
      2,591 SF

      Retail Space in High-Traffic Area

      Retail property with high visibility in Albuquerque, NM.
      5205 Menaul Blvd NE, Albuquerque, NM 87110
      View Details
    • $1,999,000
      13,047 SF

      Office Depot Net Lease Albuquerque

      High-yield retail investment, strong tenant.
      5001 Cutler Ave, Albuquerque, NM 87110
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    • $609,500
      5,300 SF

      Retail Space on Lomas Boulevard

      Retail property with potential for various business uses.
      5823 Lomas Blvd NE, Albuquerque, NM 87110
      View Details
    • $1,250,000
      4,800 SF

      High Visibility Retail Opportunity

      Two buildings on a corner lot with fenced parking.
      5113 Lomas Blvd NE, Albuquerque, NM 87110
      View Details
    • $3,632,000
      20,685 SF

      Albuquerque Retail NNN Investment Opportunity

      NNN leased retail property with excellent visibility and traffic.
      4340 Cutler Ave NE, Albuquerque, NM 87110
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space in Midtown Albuquerque

      Recently constructed retail suite in a strong Midtown location.
      2700-2706 Carlisle Blvd NE, Albuquerque, NM 87110
      View Details
    • $14 SF/Yr
      1,264 SF

      Retail Space with Roll-Up Door

      Retail space with high visibility and convenient roll-up door.
      4201-4207 Lomas Blvd NE, Albuquerque, NM 87110
      View Details
    • $12 SF/Yr
      16,284 SF

      Menaul Blvd Retail Space Sublease

      High-visibility, freestanding Albuquerque retail space.
      3632 Menaul Blvd, Albuquerque, NM 87110
      View Details
    • $1,695 /Mo
      6,970 SF

      Adaptable Commercial Space in Albuquerque

      Versatile 1,761 sq. ft. commercial space for rent.
      1601 San Pedro Dr NE, Albuquerque, NM 87110
      View Details
    • $8 SF/Yr
      11,655 SF

      Retail Space with Pylon Sign

      Retail space with high visibility and ample parking.
      4900-4920 Lomas Blvd NE, Albuquerque, NM 87110
      View Details
    • Contact for pricing
      9,991 SF

      Retail Space in Albuquerque

      9,991 SF retail space available for rent.
      3300 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      10.7k
    • Avg Time on site
      8 min
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    2124 San Mateo NE Blvd
    Albuquerque, NM 87110-5149
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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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