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

    2240 Wyoming Blvd NE Albuquerque, NM 87112

    • Retail space
    • 24,450 SF
    • 2.45 lot acres
    For Lease
    View listing
    Value Estimations
    $1,325,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0232787
    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

    • JOANN Fabric and Crafts / (Bike/Boat/Book/etc) Store

    Property Details for 2240 Wyoming Blvd NE

    Year built
    1971
    Lot size
    2.45 lot acres
    Property size
    24,450 SF
    Property type
    Retail space
    APN
    1-020-059-035-243-3-13-38
    APU
    102005903524331338

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,804,000
      Market price range: $824k - $2.42M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,660,000
      Current use
      OFFICE BUILDING
      $2,070,000
      Change: +25% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,995,000
      Change: +20% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,545,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,390,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.55
    Latitude
    35.1086
    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
    $28,152
    $271,565
    $315,233
    $586,798
    -
    $814,775
    $945,793
    $1,760,568

    Comparable in this City

    • Value Estimation by Request
      0.28 Acres

      Somervell NE St

      RETAIL STORES (PERSONAL SERVICES) • 0.28 Acres
      Somervell NE St, Albuquerque, NM 87112
      View Details
    • Value Estimation by Request
      2,560 SF

      1311 Eubank NE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,560 SF
      1311 Eubank NE Blvd, Albuquerque, NM 87112-5315
      View Details
    • Value Estimation by Request
      6,566 SF

      1616 Eubank NE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,566 SF
      1616 Eubank NE Blvd, Albuquerque, NM 87112-4115
      View Details
    • Value Estimation by Request
      4,005 SF

      9626 Menaul NE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,005 SF
      9626 Menaul NE Blvd, Albuquerque, NM 87112-2217
      View Details
    • Value Estimation by Request
      5,954 SF

      1741 Juan Tabo NE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,954 SF
      1741 Juan Tabo NE Blvd, Albuquerque, NM 87112-4401
      View Details
    • Value Estimation by Request
      2,190 SF

      1214 Juan Tabo NE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,190 SF
      1214 Juan Tabo NE Blvd, Albuquerque, NM 87112-5705
      View Details

    Similar Nearby for Sale

    • $1,350,000
      7,425 SF

      2430 Juan Tabo Blvd

      Individual retail properties • 7,425 SF
      2430 Juan Tabo Blvd, Albuquerque, NM 87112
      View Details
    • $1,000,000
      9,571 SF

      Blanca Square Investment Opportunity

      9,571 SF office property with 95% occupancy.
      2705 Juan Tabo Blvd NE, Albuquerque, NM 87112
      View Details
    • New
      $499,900
      3,080 SF

      Albuquerque Multifamily Investment Opportunity

      Well-maintained fourplex in NE Heights with strong income potential.
      10905 Towner Ave NE, Albuquerque, NM 87112
      View Details
    • $1,000,000
      2,700 SF

      Prime Albuquerque Auto Shop

      Thriving Business, Turnkey Operation
      2401 Wyoming Blvd, Albuquerque, NM 87112
      View Details
    • New
      $499,900
      3,080 SF

      Albuquerque Fourplex in NE Heights

      Well-maintained fourplex in a desirable location with strong income potential.
      10901 Towner Ave NE, Albuquerque, NM 87112
      View Details
    • $579,429
      3,107 SF

      Albuquerque Triplex Investment

      NE Heights, 3-unit apartment building
      12229 Menaul Blvd, Albuquerque, NM 87112
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,372 SF

      Northeast Heights Retail Spaces

      Albuquerque retail suites, 1,118-1,254 sq ft.
      2100 Juan Tabo Blvd, Albuquerque, NM 87112
      View Details
    • $18 SF/Yr
      800 SF

      Retail Space in Busy Area

      Retail space available in well-established Albuquerque shopping center.
      1410 Wyoming Blvd NE, Albuquerque, NM 87112
      View Details
    • $3,150 /Mo
      8,712 SF

      Albuquerque Office/Retail Space For Rent

      Well-located office/retail building off Candelaria Blvd in Albuquerque, NM.
      11920 Candelaria Rd NE, Albuquerque, NM 87112
      View Details
    • $3,396 /Mo
      2,364 SF

      Retail Space with Updated Facade

      Highly visible end cap retail space, perfect for coffee shop.
      1950 Juan Tabo Blvd NE, Albuquerque, NM 87112
      View Details
    • $13,000 /Mo
      43,560 SF

      Versatile Commercial Space in Albuquerque

      16000 sq ft space ideal for office or retail.
      2200 Eubank Blvd NE, Albuquerque, NM 87112
      View Details
    • $12 SF/Yr
      2,450 SF

      Retail Space in High-Traffic Center

      Retail space available in a busy, grocery-anchored shopping center.
      9450 Candelaria Rd NE, Albuquerque, NM 87112
      View Details

    Property Visit Statistics

    • Visits by month
      21.9k
    • Visitors by month
      18.3k
    • Avg Time on site
      29 min
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    2240 Wyoming Blvd NE
    Albuquerque, NM 87112
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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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