Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2307 New York Ave SW Albuquerque, NM 87104
    Back to Search
    Property profile & analytics

    2307 New York Ave SW, Albuquerque, NM 87104

    View on Map
    • Residential income homes
    • 2,225 SF
    • 0.49 lot acres
    For Sale
    $1,600,000
    View Listing →
    Albuquerque Multifamily Investment Opportunity For Sale
    $1,600,000
    4,810 SF

    Albuquerque Multifamily Investment Opportunity

    Eight-unit multifamily property near Old Town & Sawmill District.

    2307 New York Avenue SW, Albuquerque, NM 87104
    View Listing
    Property ID
    US61-0121271
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 2307 New York Ave SW

    Year built
    1936
    Lot size
    0.49 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    1-012-058-512-264-1-02-07
    APU
    101205851226410207

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 27, 2022 — K372 LLC Kenlee LLC Special Warranty Deed —
    Oct 31, 2012 — Kenlee LLC Tal Realty INC Warranty Deed —
    Jan 3, 2012 — Tal Realty INC Carter,tommie B Warranty Deed · related —
    Jul 20, 2010 — Tommie B Carter Taschner,tom L Quit Claim Deed · related —
    — — Tal Realty INC — Deed Of Trust · related $400k · New Mexico Bank & Trust
    — — Tal Realty INC — Deed Of Trust · related $150k · New Mexico Bank & Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.675
    Latitude
    35.0946
    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
    $6,932
    $36,896
    $105,156
    $142,052
    -
    $110,700
    $315,500
    $426,200

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      2209 New York SW Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      2209 New York SW Ave, Albuquerque, NM 87104-1600
      View Details
    • Value Estimation by Request
      2,606 SF

      809 15th NW St

      APARTMENT HOUSE (UNDER 5 UNITS)
      809 15th NW St, Albuquerque, NM 87104-1389
      View Details
    • Value Estimation by Request
      2,779 SF

      2011 Matthew NW Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      2011 Matthew NW Ave, Albuquerque, NM 87104-2400
      View Details
    • Value Estimation by Request
      3,360 SF

      1808 Old Town NW Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      1808 Old Town NW Rd, Albuquerque, NM 87104-1382
      View Details
    • Value Estimation by Request
      2,790 SF

      2011 Matthew NW Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      2011 Matthew NW Ave, Albuquerque, NM 87104-2400
      View Details
    • Value Estimation by Request
      468 SF

      228 16th NW St

      APARTMENT HOUSE (UNDER 5 UNITS)
      228 16th NW St, Albuquerque, NM 87104-1222
      View Details

    Similar Nearby for Sale

    • $1,600,000
      4,810 SF

      Albuquerque Multifamily Investment Opportunity

      Eight-unit multifamily property near Old Town & Sawmill District.
      2307 New York Ave SW, Albuquerque, NM 87104
      View Details
    • Contact for pricing
      3,850 SF

      Multifamily Property with Six Units

      Multifamily property featuring six units, suitable for residential income.
      2129 Edna Ave NW, Albuquerque, NM 87104
      View Details
    • New
      $950,000
      4,100 SF

      Renovated Homes + Development Lot

      Three renovated homes plus development lot in Albuquerque's Sawmill District.
      1321 15Th St NW, Albuquerque, NM 87104
      View Details
    • $590,000
      3,495 SF

      Old Town Multi-Unit Redevelopment Opportunity

      Multi-unit property near Old Town Plaza with redevelopment potential.
      315 Rio Grande Blvd NW, Albuquerque, NM 87104
      View Details
    • New
      $619,900
      1,613 SF

      Restored Adobe Duplex Property

      Own two lovingly restored adobe homes with updated kitchens and baths, currently operating as short-term rentals.
      1913 Lomas Blvd NW, Albuquerque, NM 87104
      View Details

    Similar Nearby for Lease

    • $12,500 /Mo
      50,094 SF

      Albuquerque Industrial Space For Lease

      Functional industrial property in Albuquerque's Sawmill District, available immediately.
      1501 12Th St NW, Albuquerque, NM 87104
      View Details
    • $3,070 /Mo
      38,768 SF

      Albuquerque Retail Space For Lease

      Retail space in walkable Old Town location, Albuquerque, NM.
      2500 Central Ave SW, Albuquerque, NM 87104
      View Details
    • Contact for pricing
      1,119 SF

      North Valley Neighborhood Retail Space

      Retail space in established North Valley neighborhood center.
      2400 Rio Grande Blvd NW, Albuquerque, NM 87104
      View Details
    • $2,338 /Mo

      Retail Space in Old Town

      Prime retail space in the heart of Albuquerque's Old Town.
      400 San Felipe St NW, Albuquerque, NM 87104
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent at Central Ave NW.
      1623 Central Ave NW, Albuquerque, NM 87104
      View Details
    View Listing
    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.
    2307 New York Ave SW
    Albuquerque, NM 87104
    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

    Thank You for Inquiry
    2307 New York Ave SW, Albuquerque, NM, 87104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!