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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Office buildings
3701 Paseo Del Norte NE Albuquerque, NM 87113-1522
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US61-0142788
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2000
Total area
22,144 SF
Lot
3.06 ac (133,381 SF)
APN
1-016-064-510-050-4-01-38
UPID
US61-0142788
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
-
Care Net Pregnancy Center of Albuquerque Medical Clinic
-
Western Assurance Insurance Agency
-
AMAC Corporate Office
-
Jackson & Assocates Financial Advisor
-
HUB International Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$940k
Owner & transaction history
W/a LLC · 21 yrs held
W/a LLC
since 2004
3 recorded transactions
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.
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
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,445,000
Current use
MEDICAL BUILDING
$1,175,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$42 / 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
$25,498
Tax year 2023
Assessed value
$531,467
Assessed 2023
Previous assessed
$483,152
+10.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$109,219
Assessed improvement
$422,248
Land market value
$327,690
Improvement market value
$1,266,870
Total market value
$1,594,560
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Units
1
Total area
22,144 SF
Lot
3.06 ac (133,381 SF)
APN
1-016-064-510-050-4-01-38
UPID
US61-0142788
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
OFFICE BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING Current
MEDICAL BUILDING
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
2000
Heating
NONE
Units
1
Lot
3.06 ac
Current owner
From public records · entity-resolved
W/a LLC
Entity
Mailing address
642 SOLAR RD NW, ALBUQUERQUE, NM 87107-5744
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2006
—
Paseo Business Park LLC
—
Deed Of Trust
related
$4,240,000 · Bank Of Albuquerque
Sep 13, 2004
—
W/a LLC
Bradbury & Stamm Paseo Ltd
Warranty Deed
$1,992,000 · Bank Of America
—
—
W/a LLC
—
Deed Of Trust
related
$1,479,518 · Bank Of America
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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