Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2827 Rio Grande NW Blvd Albuquerque, NM 87107-2972
    Back to Search
    Property profile & analytics

    2827 Rio Grande NW Blvd, Albuquerque, NM 87107-2972

    View on Map
    • Residential income homes
    • 813 SF
    • 1.18 lot acres
    Off-Market
    Last Sale Aug 22, 2022
    Property ID
    US61-1639179
    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 2827 Rio Grande NW Blvd

    Year built
    1926
    Lot size
    1.18 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    1-012-060-497-230-4-03-14
    APU
    101206049723040314

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 22, 2022 — Tgg LLC Hidden Grove LLC Warranty Deed —
    Mar 22, 2022 $350,000 Tgg LLC Hidden Grove LLC Land Contract $150k · Not Available
    Dec 21, 2015 — Hidden Grove LLC Branch,turner W & Margaret M Trustees Deed · related $948k · New Mexico Bk
    Dec 29, 2005 — Hidden Grove LLC Branch,turner W & Margaret M Warranty Deed —

    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
    -106.676
    Latitude
    35.1228
    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
    $4,911
    $68,993
    $66,727
    $135,720
    -
    $207,000
    $200,200
    $407,200

    Comparable in this City

    • Value Estimation by Request
      826 SF

      510 Candelaria NW Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      510 Candelaria NW Rd, Albuquerque, NM 87107
      View Details
    • Value Estimation
      $2,440,000
      30,600 SF

      900 Griegos NW Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      900 Griegos NW Rd, Albuquerque, NM 87107-3768
      View Details
    • Value Estimation by Request
      2,992 SF

      164 Sandia NW Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      164 Sandia NW Rd, Albuquerque, NM 87107-5058
      View Details
    • Value Estimation by Request
      1,900 SF

      321 Aztec NW Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      321 Aztec NW Rd, Albuquerque, NM 87107-2300
      View Details
    • Value Estimation by Request
      3,480 SF

      520 Los Arboles NW Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      520 Los Arboles NW Ave, Albuquerque, NM 87107-1259
      View Details
    • Value Estimation
      $605,000
      3,262 SF

      3901 Lafayette NE Dr

      APARTMENT HOUSE (UNDER 5 UNITS)
      3901 Lafayette NE Dr, Albuquerque, NM 87107-4606
      View Details

    Similar Nearby for Sale

    • $3,015,000
      14,266 SF

      Albuquerque Multifamily Investment Opportunity

      Multifamily portfolio in Albuquerque with investment upside.
      3601 Wellesley Dr NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      9,100 SF

      Spacious Updated Townhome-Style Apartments

      Seven updated townhome-style apartments in a convenient Albuquerque location.
      3505-09 Lafayette Dr NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      6,800 SF

      Multifamily Property with Strong Upside

      Fully occupied multifamily property with renovated units and rent upside.
      1225 Menaul Blvd NW Albuquerque NM USA, Albuquerque, NM 87107
      View Details
    • New
      $950,000
      9,100 SF

      Albuquerque Multifamily Investment Opportunity

      Seven updated townhome-style apartments with condo conversion potential.
      3505 Lafayette Dr NE, Albuquerque, NM 87107
      View Details
    • $510,000
      3,336 SF

      Albuquerque Fourplex in NE Heights

      Well-maintained, fully rented fourplex in Albuquerque's Northeast Heights neighborhood.
      3501 NE Wellesley Dr, Albuquerque, NM 87107
      View Details
    • $559,000
      3,632 SF

      Albuquerque Fourplex Investment Opportunity

      Fourplex in Albuquerque's Northwest Valley with in-unit laundry.
      325 San Andres Ave NW, Albuquerque, NM 87107
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Albuquerque Commercial Land Opportunity

      Secure .14-Acre Lot w/Income
      4004 2Nd St, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      7,310 SF

      Restaurant Pad Fronting Interstate 25

      Restaurant pad site with high traffic counts on Interstate 25.
      4040 Pan American Fwy, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      35,185 SF

      Albuquerque Warehouse with Dock Access

      35,185 SF warehouse featuring dock access and ample power.
      7110 2Nd St NW, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      4,800 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
      1,673 SF

      Warehouse, Office, Storage Space

      Warehouse, office, and storage space with gated lot.
      3312 Stanford Dr NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing

      Commercial Land with High Visibility

      Land suitable for fast food with drive-thru, high traffic location.
      401 Menaul Blvd NW, Albuquerque, 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.
    2827 Rio Grande NW Blvd
    Albuquerque, NM 87107-2972
    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
    2827 Rio Grande NW Blvd, Albuquerque, NM, 87107
    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!