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    5124 2nd NW St Albuquerque, NM 87107-4009
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    5124 2nd NW St Albuquerque, NM 87107-4009

    View on Map
    • Warehouses
    • 16,280 SF
    • 2.96 lot acres
    Off-Market
    Last Sale Jan 19, 2022
    Property ID
    US61-1242260
    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
    $1,335,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • IN Self Storage - ABQ North / Storage Facility
    • Pennsylvania Associates LLC / Consultant

    Property Details for 5124 2nd NW St

    Year built
    2019
    Lot size
    2.96 lot acres
    Property size
    16,280 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    1-015-061-075-115-3-08-16
    APU
    101506107511530816

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,392,000
      Market price range: $522k - $1.39M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $920,000
      Current use
      COMMERCIAL (GENERAL)
      $2,055,000
      Change: +123% Conversion: Difficult
      RETAIL STORES
      $1,715,000
      Change: +86% Conversion: Moderate
      RESTAURANT
      $1,710,000
      Change: +86% Conversion: Difficult
      OFFICE BUILDING
      $1,390,000
      Change: +51% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,225,000
      Change: +33% Conversion: Easy
      MEDICAL BUILDING
      $865,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.637
    Latitude
    35.1338
    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
    $51,553
    $201,710
    $730,380
    $932,090
    -
    $605,192
    $2,191,360
    $2,796,552

    Comparable in this City

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      $2,880,000
      37,920 SF

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      MINI-WAREHOUSE, STORAGE • 37,920 SF
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      View Details
    • Value Estimation by Request
      3,040 SF

      2712 Girard NE Blvd

      MINI-WAREHOUSE, STORAGE • 3,040 SF
      2712 Girard NE Blvd, Albuquerque, NM 87107-1846
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    • Value Estimation by Request
      880 SF

      3309 Matthew NE Ave

      MINI-WAREHOUSE, STORAGE • 880 SF
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    • Value Estimation by Request
      5,920 SF

      3201 Aztec NE Rd

      MINI-WAREHOUSE, STORAGE • 5,920 SF
      3201 Aztec NE Rd, Albuquerque, NM 87107-4473
      View Details
    • Value Estimation by Request
      4,620 SF

      3131 Candelaria NE Rd

      MINI-WAREHOUSE, STORAGE • 4,620 SF
      3131 Candelaria NE Rd, Albuquerque, NM 87107-1905
      View Details
    • Value Estimation
      $880,000
      10,560 SF

      306 Menaul NE Blvd

      MINI-WAREHOUSE, STORAGE • 10,560 SF
      306 Menaul NE Blvd, Albuquerque, NM 87107-1528
      View Details

    Similar Nearby for Sale

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      25,889 SF

      Industrial Property with Fenced Yard

      25,889 SF industrial building with fenced yard for sale.
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      10,493 SF

      Warehouse/Office Space For Sale

      Two warehouse/office spaces available for purchase.
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      8,027 SF

      Mixed-Use Building with Apartment

      8,027 SF mixed-use building with industrial, office, and apartment.
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    • Contact for pricing
      12,209 SF

      Stabilized Industrial Flex Space Available

      Industrial flex space for sale, excellent location, strong tenants.
      4200-4212 4Th St NW, Albuquerque, NM 87107
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    • $3,330,000
      1.20 Acres

      Albuquerque Industrial Property For Sale

      Versatile multi-suite industrial property in a sought-after location.
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    • $2,500,000
      13,875 SF

      Albuquerque Days Inn Investment

      46-unit hotel, fully renovated, prime location.
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    Similar Nearby for Lease

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      3,250 SF

      Industrial Space in North I-25

      Flex/industrial space for lease in established North I-25 corridor.
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    • Contact for pricing
      5,493 SF

      Warehouse/Office Space For Rent

      Warehouse/Office space featuring two grade-level doors and ample power.
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      View Details
    • Contact for pricing
      2,400 SF

      Established Albuquerque Trade Center Space

      Industrial and retail spaces available in established business center.
      3520 Pan American Fwy NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      6,000 SF

      Albuquerque Trade Center Space

      Established business center for logistics and distribution with I-25 visibility.
      3530-3535 Princeton Dr NE, Albuquerque, NM 87107
      View Details
    • Contact for pricing
      5,000 SF

      Warehouse/Office Space Available

      5,000 SF warehouse/office space available 8/1/2025.
      2905 Girard Blvd NE, Albuquerque, NM 87107
      View Details
    • $19 SF/Yr

      Industrial Space with Yard Area

      1,891 SF industrial space with gated yard for lease.
      2620 4Th St Northwest, Albuquerque, NM 87107
      View Details
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    5124 2nd NW St
    Albuquerque, NM 87107-4009
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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.

    More about this property
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