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Property profile & analytics
OFF-MARKET
Estimated value
$10,810,000
Office buildings
401 Broadway NE Blvd Albuquerque, NM 87102-2330
Individually Owned
Free & Clear
Property ID
US61-0338980
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1975
Total area
88,231 SF
Lot
2.59 ac (112,777 SF)
APN
1-014-057-371-517-1-47-01
UPID
US61-0338980
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
-
New Mexico Department of Workforce Solutions State Government Office
-
Employment Services Division Appeal Business Service Center Employment Agency
-
Veterans' Employment and Training Services Federal Government Office
-
Tiwa Building Corporate Office
-
Unemployment Insurance Bureau State Government Office Social Services Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.41M
Blend (final)
Blend
$10.81M
Owner & transaction history
N M EMPLOYMENT SECURIT COMM
N M EMPLOYMENT SECURIT COMM
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.5M
+32.2%
Restaurant
$11.0M
+0.4%
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
OFFICE BUILDING
$10,960,000
Current use
COMMERCIAL (GENERAL)
$14,490,000
Change: +32% · Conversion: Easy
RESTAURANT
$11,000,000
Change: +0% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,635,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$8,990,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$10.81M
Range $9.73M – $11.89M · ±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
$123 / 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
Assessed value
$2,201,319
Assessed 2023
Previous assessed
$2,001,200
+10.0% YoY
Assessed land
$496,160
Assessed improvement
$1,705,159
Land market value
$1,488,630
Improvement market value
$5,115,990
Total market value
$6,604,620
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
1975
Heating
NONE
Total area
88,231 SF
Lot
2.59 ac (112,777 SF)
APN
1-014-057-371-517-1-47-01
UPID
US61-0338980
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
$11.0M
COMMERCIAL (GENERAL)
Est. value
$14.5M
RESTAURANT
Est. value
$11.0M
AUTO REPAIR, GARAGE
Est. value
$9.6M
RETAIL STORES
Est. value
$9.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1975
Heating
NONE
Lot
2.59 ac
Current owner
From public records · entity-resolved
N M EMPLOYMENT SECURIT COMM
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 6850, SANTA FE, NM 87502-6850
Mailing matches property
Yes
Owner-occupied
Yes
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
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