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

    346 Rhode Is NE St Albuquerque, NM 87108-2773

    • Residential income homes
    • 2,300 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    7.1%
    Residential income homes
    Location Intelligence
    Property ID
    US61-0195055
    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

    • Calzadoymas Albuquerque / Shoe Store

    Property Details for 346 Rhode Is NE St

    Year built
    1959
    Lot size
    0.31 lot acres
    Property size
    2,300 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    1-019-057-326-262-4-18-25
    APU
    101905732626241825

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $325,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $188,000
      Market price range: $126k - $364k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $250,000
      Current use
      COMMERCIAL (GENERAL)
      $455,000
      Change: +81% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $255,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $250,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $245,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.558
    Latitude
    35.0798
    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
    $5,480
    $25,473
    $46,654
    $72,127
    -
    $76,426
    $139,977
    $216,403

    Comparable in this City

    • Value Estimation
      $370,000
      2,527 SF

      5700 Copper NE Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,527 SF
      5700 Copper NE Ave, Albuquerque, NM 87108-1671
      View Details
    • Value Estimation
      $290,000
      2,972 SF

      201 Madison NE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,972 SF
      201 Madison NE St, Albuquerque, NM 87108-1240
      View Details
    • Value Estimation
      $330,000
      2,692 SF

      301 Montclaire SE Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,692 SF
      301 Montclaire SE Dr, Albuquerque, NM 87108-2627
      View Details
    • Value Estimation
      $260,000
      1,992 SF

      324 Texas SE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,992 SF
      324 Texas SE St, Albuquerque, NM 87108-4191
      View Details
    • Value Estimation
      $330,000
      6,560 SF

      1201 Palomas SE Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,560 SF
      1201 Palomas SE Dr, Albuquerque, NM 87108-4723
      View Details
    • Value Estimation
      $845,000
      2,779 SF

      1010 Palomas SE Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,779 SF
      1010 Palomas SE Dr, Albuquerque, NM 87108-4776
      View Details

    Similar Nearby for Sale

    • $399,900
      0.65 Acres

      Albuquerque Development Site with Plans

      Development site with approved 24-unit apartment plans. Owner financing available.
      6525 Cochiti Rd SE, Albuquerque, NM 87108
      View Details
    • $370,000
      0.16 Acres

      Albuquerque Fourplex Investment Opportunity

      Fully rented fourplex in La Mesa neighborhood, Albuquerque.
      415 Wisconsin St NE, Albuquerque, NM 87108
      View Details
    • $1,325,000
      10,515 SF

      Albuquerque Value-Add Multifamily

      22-unit apartment building, high ROI potential.
      7600 Central Ave, Albuquerque, NM 87108
      View Details
    • $316,000
      5,156 SF

      Albuquerque Multifamily Investment Opportunity

      5,156 SF building with 8 units in Albuquerque.
      118 Charleston St SE, Albuquerque, NM 87108
      View Details
    • New
      $840,000
      2,688 SF

      Albuquerque Multifamily Investment Opportunity

      Well-maintained 8-unit multifamily property in Albuquerque with strong rental demand.
      635 Mesilla St SE, Albuquerque, NM 87108
      View Details
    • $1,070,000
      7,528 SF

      Albuquerque Multifamily Investment Opportunity

      Updated 10-unit multifamily property with strong rental history and 100% occupancy.
      1036 Alvarado Dr SE, Albuquerque, NM 87108
      View Details

    Similar Nearby for Lease

    • $438 /Mo
      3,280 SF

      Valero Gas Station - Albuquerque

      High-volume gas station, strong revenue.
      1620 Carlisle Blvd, Albuquerque, NM 87108
      View Details
    • $25 SF/Yr
      1,400 SF

      Prime Retail Space - Gibson Blvd SE

      1,400 SF Freestanding Retail Building
      5800 Gibson Blvd, Albuquerque, NM 87108
      View Details
    • $2,800 /Mo
      3,094 SF

      Office Space Available For Rent

      Office space available for rent, suitable for day care.
      1406 San Pedro Dr NE, Albuquerque, NM 87108
      View Details
    • $2,250 /Mo
      5,358 SF

      Centrally Located Flex/Industrial Space

      Flex/industrial space for rent, near I-40 and Expo New Mexico.
      217-221 San Pedro Dr NE, Albuquerque, NM 87108
      View Details
    • $17 SF/Yr
      3,153 SF

      Renovated Office Space For Rent

      Recently renovated office space with security fence and employee lounge.
      124 Alvarado Dr SE, Albuquerque, NM 87108
      View Details
    • $1,500 /Mo
      12,632 SF

      Albuquerque Office Space For Rent

      Four private offices available with utilities and internet included.
      608 Chama St NE, Albuquerque, NM 87108
      View Details
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    346 Rhode Is NE St
    Albuquerque, NM 87108-2773
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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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