Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$355,000
Drug stores
3501 Lomas NE Blvd Albuquerque, NM 87106-1335
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US61-0348323
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1994
Total area
14,072 SF
Lot
1.3 ac (56,541 SF)
APN
1-016-058-505-013-4-06-39
UPID
US61-0348323
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
-
Walgreens Grocery & Convenience Store
-
Gail H. Boles, RPh Pharmacy
-
Walgreens Pharmacy Pharmacy
-
Edwin A. Ortega, Pharm Pharmacy
-
Robert M. Colwell, RPH Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$355k
Owner & transaction history
HQ OLD NB LLC
HQ OLD NB LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+75.5%
Apartment house (5+ units)
$2.0M
+49.8%
Restaurant
$1.5M
+12.4%
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
RETAIL STORES
$1,305,000
Current use
COMMERCIAL (GENERAL)
$2,290,000
Change: +76% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,950,000
Change: +50% · Conversion: Difficult
RESTAURANT
$1,465,000
Change: +12% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,320,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$355k
Range $320k – $391k · ±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
$25 / 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
$14,672
Tax year 2023
Assessed value
$305,823
Assessed 2023
Previous assessed
$280,572
+9.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$114,039
Assessed improvement
$191,784
Land market value
$342,151
Improvement market value
$575,411
Total market value
$917,562
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1994
Heating
NONE
Total area
14,072 SF
Lot
1.3 ac (56,541 SF)
APN
1-016-058-505-013-4-06-39
UPID
US61-0348323
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
RETAIL STORES Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RESTAURANT
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
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
1994
Heating
NONE
Lot
1.3 ac
Current owner
From public records · entity-resolved
HQ OLD NB LLC
Entity
Mailing address
135 JERICHO TPKE, OLD WESTBURY, NY 11568-1508
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3501 Lomas NE Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
