Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2903 San Mateo NE Blvd Albuquerque, NM 87110-3169

    • Office Properties & Spaces
    • 1,955 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0285584
    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

    • R&S Landscaping / Landscaping / General Contractor
    • Pats Bookkeeping & Tax Services / Tax Preparation
    • Padilla & Co / Tax Preparation

    Property Details for 2903 San Mateo NE Blvd

    Year built
    1947
    Lot size
    0.16 lot acres
    Property size
    1,955 SF
    Property type
    Office Properties & Spaces
    APN
    1-017-059-519-468-1-32-02
    APU
    101705951946813202

    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
    -106.587
    Latitude
    35.1148
    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
    $2,423
    $8,699
    $41,796
    $50,495
    -
    $26,100
    $125,400
    $151,500

    Comparable in this City

    • Value Estimation by Request

      8338 Comanche Rd Neo

      CONDOMINIUM OFFICES
      8338 Comanche Rd Neo, Albuquerque, NM 87110-2304
      View Details
    • Value Estimation by Request

      8338 Comanche Rd Nem

      CONDOMINIUM OFFICES
      8338 Comanche Rd Nem, Albuquerque, NM 87110-2304
      View Details
    • Value Estimation by Request
      1,050 SF

      7912 Menaul NE Blvd

      CONDOMINIUM OFFICES • 1,050 SF
      7912 Menaul NE Blvd, Albuquerque, NM 87110-4606
      View Details
    • Value Estimation by Request
      1,666 SF

      8102 Menaul Blvd Ne Ste A

      CONDOMINIUM OFFICES • 1,666 SF
      8102 Menaul Blvd Ne Ste A, Albuquerque, NM 87110-4725
      View Details
    • Value Estimation by Request
      1,484 SF

      6301 Candelaria NE Rd

      OFFICE (GENERAL) • 1,484 SF
      6301 Candelaria NE Rd, Albuquerque, NM 87110-2633
      View Details
    • Value Estimation by Request
      1,510 SF

      5310 Homestead Rd Ne Ste 202b

      CONDOMINIUM OFFICES • 1,510 SF
      5310 Homestead Rd Ne Ste 202b, Albuquerque, NM 87110-1524
      View Details

    Similar Nearby for Sale

    • $2,500,000
      15,655 SF

      NE Heights Office Building Investment

      Prime Albuquerque Office, Multi-Tenant Income
      1120 Pennsylvania St, Albuquerque, NM 87110
      View Details
    • $350,000
      1,225 SF

      1,225 SF Free standing Professional Building For Sale

      1,225 SF Free standing Professional Building For Sale
      2907 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details
    • $400,000
      3,534 SF

      Uptown Commercial Space For Sale

      Prime commercial space in Uptown with over 3,500 square feet.
      2511 Utah St NE, Albuquerque, NM 87110
      View Details
    • $2,250,000
      15,655 SF

      Albuquerque Office Building For Sale

      Office building near Uptown with income potential and modern upgrades.
      1120 Pennsylvania St NE, Albuquerque, NM 87110
      View Details
    • $325,000
      0.16 Acres

      Albuquerque Office Building For Sale

      Well-maintained office building with tenant in place through May 2026.
      2907 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details
    • $435,000
      3,308 SF

      Office Building with Ample Parking

      Office building featuring exceptional parking and updated systems.
      1809 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      16,207 SF

      Uptown Albuquerque Office Space

      Prime Office, 16,207 sq ft, Albuquerque NM
      2440 Louisiana Blvd, Albuquerque, NM 87110
      View Details
    • $21 SF/Yr
      4,719 SF

      Altura Professional Building: Prime Office Space

      Class A Office, Panoramic Views, 4,719 SF
      4101 Indian School Rd, Albuquerque, NM 87110
      View Details
    • $17 SF/Yr
      376,063,760 SF

      Albuquerque Office Space for Lease

      Prime Uptown location, multiple suites available.
      6100 Indian School Rd, Albuquerque, NM 87110
      View Details
    • $19 SF/Yr
      6,232 SF

      Albuquerque Office Suites Available

      Prime Albuquerque location, multiple suites.
      1720 Louisiana Blvd, Albuquerque, NM 87110
      View Details
    • $16 SF/Yr
      4,554 SF

      Fair Plaza Retail Spaces Available

      Grocery-anchored center; high traffic; 3 spaces.
      6001 Lomas Blvd, Albuquerque, NM 87110
      View Details
    • $20 SF/Yr
      68,000 SF

      Uptown Albuquerque Office Suites

      Executive Office Space, Abundant Amenities
      6200 Uptown Blvd, Albuquerque, NM 87110
      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.
    2903 San Mateo NE Blvd
    Albuquerque, NM 87110-3169
    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

    Google sign-in failed. Please try again or use another login method.