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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Warehouses
2516 University NE Blvd Albuquerque, NM 87107-1732
Entity Owned
2-yr Hold
Free & Clear
Property ID
US61-0062906
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Total area
10,318 SF
Lot
2.65 ac (115,347 SF)
APN
1-015-059-488-322-1-02-03
UPID
US61-0062906
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
DDL SERVICES - Quality Truck & Trailer Repair Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$665k
Owner & transaction history
Penske Truck Leasing Co LP · 2 yrs held
Penske Truck Leasing Co LP
since 2024
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+86.3%
Restaurant
$1.1M
+86.0%
Office building
$880,000
+51.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albuquerque submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albuquerque submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$585,000
Current use
RETAIL STORES
$1,085,000
Change: +86% · Conversion: Moderate
RESTAURANT
$1,085,000
Change: +86% · Conversion: Difficult
OFFICE BUILDING
$880,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$775,000
Change: +33% · Conversion: Easy
MEDICAL BUILDING
$550,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$64 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,629
Tax year 2023
Assessed value
$200,712
Assessed 2023
Previous assessed
$187,582
+7.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$120,791
Assessed improvement
$79,921
Land market value
$362,409
Improvement market value
$239,787
Total market value
$602,196
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Heating
NONE
Total area
10,318 SF
Lot
2.65 ac (115,347 SF)
APN
1-015-059-488-322-1-02-03
UPID
US61-0062906
Jurisdiction
BERNALILLO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$585,000
RETAIL STORES
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
OFFICE BUILDING
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$775,000
MEDICAL BUILDING
Est. value
$550,000
WAREHOUSE, STORAGE Current
RETAIL STORES
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Lot
2.65 ac
Current owner
From public records · entity-resolved
Penske Truck Leasing Co LP
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2024
—
Penske Truck Leasing Co LP
Ple Properties LLC
Lease
—
Feb 28, 2018
—
Ple Properties LLC
V M Properties LLC
Grant Deed
$1,125,000 · Bank Of Albuquerque
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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