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    4200 Wyoming Blvd NE Albuquerque, NM 87111
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    Property profile & analytics

    4200 Wyoming Blvd NE Albuquerque, NM 87111

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    • Strip malls
    • 5,883 SF
    • 2.51 lot acres
    For Lease
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    Los Altos Plaza Retail/Office Space For Lease
    Contact for pricing
    6,442 SF

    Los Altos Plaza Retail/Office Space

    Retail and office suites available in redeveloping NE Heights.

    4200 Wyoming Blvd NE, Albuquerque, NM 87111
    View Listing
    Property ID
    US61-0296230
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Open Gym Albuquerque / Gym & Fitness Center
    • Sakura Sushi LLC / Restaurant
    • The Golf Mart / (Bike/Boat/Book/etc) Store
    • Eyeglass World / (Bike/Boat/Book/etc) Store
    • Dry Eye Center of the Southwest / Medical Clinic

    Property Details for 4200 Wyoming Blvd NE

    Year built
    1990
    Lot size
    2.51 lot acres
    Property size
    5,883 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1-020-060-029-446-2-21-19
    APU
    102006002944622119

    Description

    Los Altos Plaza, a 48,104 square foot multi-tenant medical office and retail building in Albuquerque, New Mexico's NE Heights submarket, offers exceptional leasing opportunities. Situated on a 2.51-acre lot at 4200 Wyoming Blvd NE, 87111, this 1986-built property boasts 133 parking spaces and is zoned MX-M. Two suites are currently available: Suite A-6, a 6,442 square foot open floor plan ideal for various retail uses, and Suite B-1, a 3,365 square foot corner suite. Suite B-1, previously a dental training facility and architect's office, features an open ceiling, several private offices, and storage areas, and benefits from a secure, private gated entrance and covered courtyard access. The minimum divisible space is 3,365 square feet, with a maximum contiguous space of 6,442 square feet. A total of 9,807 square feet is currently vacant. Los Altos Plaza enjoys a strong tenant mix, including Golf Mart, Eyeglass World, The Open Gym, and Down and Dirty Seafood Boil, ensuring high visibility and foot traffic. This property presents a unique chance to establish a presence in a thriving Albuquerque neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.55
    Latitude
    35.1286
    CBSA code
    10740
    CBSA name
    ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $42,404
    $356,721
    $527,144
    $883,865
    -
    $1,070,271
    $1,581,590
    $2,651,861

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    Similar Nearby for Sale

    • Contact for pricing

      Land Ideal for Commercial Use

      Land suitable for retail, multifamily, and commercial development.
      4615 Wyoming Blvd NE, Albuquerque, NM 87111
      View Details
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      Albuquerque Commercial Property For Sale

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      Northeast Heights Freestanding Building

      Versatile 23,427 SF building suitable for office, medical, or retail.
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      Functional Medical Office Condo

      Well-designed medical office condo with fully equipped exam rooms.
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      Land in High-Traffic Area

      Commercial land with high visibility and multiple access points.
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      Albuquerque Land in La Mirada

      Land in desirable retail node, ideal neighborhood center location.
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    Similar Nearby for Lease

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      Target Anchored Shopping Center Space

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      Retail Space in Albuquerque, NM

      Retail space available in Walmart & Smith’s anchored shopping center.
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      Los Altos Plaza Retail/Office Space

      Retail and office suites available in redeveloping NE Heights.
      4200 Wyoming Blvd NE, Albuquerque, NM 87111
      View Details
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      Retail & Restaurant Space Available

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      Retail Space Available For Rent

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      Retail Space Near Major Retailers

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    View Listing
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    Albuquerque, NM 87111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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