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Property profile & analytics
OFF-MARKET
Estimated value
$2,530,000
Strip malls
3621 Menaul NE Blvd Albuquerque, NM 87110-2829
Entity Owned
3-yr Hold
Free & Clear
Property ID
US61-0187095
Property summary
AI-generated overview
Park Plaza, a 165,392 square foot Class B shopping center in Albuquerque, New Mexico, offers exceptional retail and restaurant opportunities. Located at 3621 Menaul Blvd NE, at the intersection of Menaul Blvd NE and Carlisle Blvd NE, this property boasts high visibility and traffic. The center features five single-story buildings totaling 12 suites, with a minimum divisible space of 840 square feet and a maximum contiguous space of 43,904 square feet. Currently, 101,248 square feet are available for lease. Built in 1978 and extensively renovated in 2023, Park Plaza sits on a 0.25-acre lot (10,900 square feet) and provides ample parking with a 4.2:1,000 ratio. The property is conveniently located in Albuquerque's Northeast Heights, alongside established anchor tenants including Savers, Mattress Firm, and Eyemart Express. This revitalized center offers unparalleled visibility and a prime location to attract and retain customers. No elevators are present.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1995
Total area
132,768 SF
Lot
13.61 ac (592,852 SF)
APN
1-017-059-067-296-2-01-10
UPID
US61-0187095
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
-
Mattress Firm Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.53M
Owner & transaction history
3621 Menaul Blvd LLC · 3 yrs held
3621 Menaul Blvd LLC
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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.
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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
NEIGHBORHOOD: SHOPPING CENTER
$3,215,000
Current use
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±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
$19 / 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
$176,209
Tax year 2023
Assessed value
$3,672,860
Assessed 2023
Previous assessed
$3,369,597
+9.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$1,356,914
Assessed improvement
$2,315,946
Land market value
$4,071,150
Improvement market value
$6,948,532
Total market value
$11,019,682
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1995
Heating
NONE
Total area
132,768 SF
Lot
13.61 ac (592,852 SF)
APN
1-017-059-067-296-2-01-10
UPID
US61-0187095
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1995
Heating
NONE
Lot
13.61 ac
Current owner
From public records · entity-resolved
3621 Menaul Blvd LLC
Entity
Free & Clear · 3 yrs held
Mailing address
500 E 4TH ST #351, AUSTIN, TX 78701-3720
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2022
—
3621 Menaul Blvd LLC
Odelia B Griffin
Special Warranty Deed
—
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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