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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Strip malls
417 Tramway NE Blvd Albuquerque, NM 87123-2162
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US61-0231651
Property summary
AI-generated overview
Canyon Plaza, located at 417 Tramway Blvd NE, Albuquerque, NM 87123, offers exceptional executive office space in a thriving neighborhood retail center. This 20,000 square foot property, situated on a 2.05-acre lot in Bernalillo County's NE Heights submarket, boasts high visibility with exposure to 30,000 vehicles daily on Tramway Blvd. The center features a prominent monument sign showcasing all tenants. Currently, 6,538 square feet of space is available, divisible into units ranging from 1,200 to 3,600 contiguous square feet, perfect for businesses seeking flexible options. Ample parking is provided with 97 spaces conveniently located around the building. The property is zoned MX-L and benefits from its established tenant base, including a popular local brewery, attracting significant foot traffic. Rates begin at $18 per square foot. Local ownership is committed to enhancing the property and fostering a collaborative environment for tenants. This prime location just north of I-40 offers unparalleled access and visibility for businesses seeking to establish a strong presence in Albuquerque's vibrant NE Heights.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Total area
20,178 SF
Lot
2.05 ac (89,211 SF)
APN
1-023-057-011-050-3-01-12
UPID
US61-0231651
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
-
Sushi Xuan Asian Grill Restaurant
-
Papa John's Pizza Restaurant
-
Canteen Taproom Production Facility Brewery & Distillery
-
Whisk N Sip Cafe & Coffee Shop
-
PurLife Dispensary Tramway (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$735k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$500k
Blend (final)
Blend
$615k
Owner & transaction history
Longs Peaks LLC · 20 yrs held
Longs Peaks LLC
since 2006
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
$735,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$595,000
Current use
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$30 / 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
$20,159
Tax year 2023
Assessed value
$420,190
Assessed 2023
Previous assessed
$385,494
+9.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$213,946
Assessed improvement
$206,244
Land market value
$641,901
Improvement market value
$618,793
Total market value
$1,260,694
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
1987
Heating
NONE
Units
1
Total area
20,178 SF
Lot
2.05 ac (89,211 SF)
APN
1-023-057-011-050-3-01-12
UPID
US61-0231651
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
$595,000
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
1987
Heating
NONE
Units
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Longs Peaks LLC
Entity
Mailing address
1717 LOUISIANA BLVD NE STE #111, ALBUQUERQUE, NM 87110-7014
Ownership since
2006
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
Apr 19, 2006
—
Longs Peaks LLC
Wildcat Partners
Warranty Deed
—
—
—
Wildcat Partners
—
Deed Of Trust
related
$60,000 · Bank Of America
—
—
Wildcat Partners
—
Deed Of Trust
related
$845,823 · 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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