Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    523 Lomas NE Blvd Albuquerque, NM 87102-2437

    • Office buildings
    • 1,248 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2024
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    6.2%
    Office buildings
    Location Intelligence
    Property ID
    US61-0123318
    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.

    Current Use by Public Records

    • Performance Property Management / Property Management Company
    • Bustillos Concrete Pumping LLC / Concrete Product Supplier
    • Law Offices of James Hassan / Immigration Attorney / Service Establishment
    • Bustillos Construction Inc / Construction Company

    Property Details for 523 Lomas NE Blvd

    Year built
    1939
    Lot size
    0.15 lot acres
    Property size
    1,248 SF
    Property type
    Office buildings
    APN
    1-015-058-020-096-3-10-04
    APU
    101505802009631004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $295,000
      6.5%
      $270,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $192,000
      Market price range: $42.4k - $264k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $205,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.639
    Latitude
    35.09
    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
    $1,634
    $14,042
    $20,018
    $34,060
    -
    $42,130
    $60,060
    $102,190

    Comparable in this City

    • Value Estimation
      $265,000
      0.12 Acres

      311 Lead SW Ave

      PROFESSIONAL BUILDING • 0.12 Acres
      311 Lead SW Ave, Albuquerque, NM 87102
      View Details
    • Value Estimation
      $780,000
      88,231 SF

      401 Broadway NE Blvd

      PROFESSIONAL BUILDING • 88,231 SF
      401 Broadway NE Blvd, Albuquerque, NM 87102-2330
      View Details
    • Value Estimation
      $550,000
      188,866 SF

      415 Silver SW Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 188,866 SF
      415 Silver SW Ave, Albuquerque, NM 87102-3225
      View Details
    • Value Estimation
      $245,000
      924 SF

      311 Kinley NW Ave

      PROFESSIONAL BUILDING • 924 SF
      311 Kinley NW Ave, Albuquerque, NM 87102-1436
      View Details
    • Value Estimation
      $320,000
      8,742 SF

      1120 2nd NW St

      PROFESSIONAL BUILDING • 8,742 SF
      1120 2nd NW St, Albuquerque, NM 87102-2218
      View Details
    • Value Estimation
      $335,000
      10,399 SF

      215 3rd SW St

      PROFESSIONAL BUILDING • 10,399 SF
      215 3rd SW St, Albuquerque, NM 87102-3311
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,557 SF

      Downtown Albuquerque Live/Work Space

      Live/work space near downtown Albuquerque and Old Town.
      803 Tijeras Ave NW, Albuquerque, NM 87102
      View Details
    • $2,800,000
      10,613 SF

      Downtown Albuquerque Restaurant/Office

      Turnkey Restaurant & Office Space, 10,613 SF
      320 Central Ave, Albuquerque, NM 87102
      View Details
    • $2,800,000
      10,613 SF

      Turn-Key Restaurant and Office Space

      Urban commercial property with restaurant, bar, and office space.
      316 Central Ave SE, Albuquerque, NM 87102
      View Details
    • $2,000,000
      1.63 Acres

      Albuquerque Retail Bank Property

      Prime Location, Vacant Bank Building
      605 Lomas Blvd, Albuquerque, NM 87102
      View Details
    • $599,000
      4,913 SF

      Downtown Albuquerque Office/Retail Gem

      4,913 SF, Vacant, NNN Lease, $599,000
      211 Gold Ave, Albuquerque, NM 87102
      View Details
    • $917,700
      5,244 SF

      Historic Albuquerque Landmark Office Space

      Unique office space in downtown Albuquerque's historic Banque Lofts.
      219 Central Ave NW, Albuquerque, NM 87102
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      29,814 SF

      Albuquerque Office Buildings For Rent

      Two office buildings available for lease in Albuquerque, New Mexico.
      2340 Menaul Rd NE, Albuquerque, NM 87102
      View Details
    • $15 SF/Yr
      422,341 SF

      Downtown Albuquerque Office Space Available

      Prime office space with transit access and on-site security.
      400 Tijeras Ave NW, Albuquerque, NM 87102
      View Details
    • $16 SF/Yr
      223,000 SF

      Downtown Albuquerque Landmark Office Building

      Premier downtown location with modern amenities and telecommunications infrastructure.
      505 Marquette Ave NW, Albuquerque, NM 87102
      View Details
    • $23 SF/Yr
      13,852 SF

      Landmark Office Buildings For Rent

      Two office buildings near Courthouses & City Hall with parking.
      500 4Th St, Albuquerque, NM 87102
      View Details
    • $23 SF/Yr
      112,822 SF

      Downtown Albuquerque Executive Suites

      Prestigious A-Class Office Space Available
      500 Marquette Ave, Albuquerque, NM 87102
      View Details
    • $9,000 /Mo
      21,344 SF

      Versatile Commercial Space, Albuquerque

      Adaptable commercial space suitable for warehouse, retail, office, or more.
      221 Broadway Blvd SE, Albuquerque, NM 87102
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    523 Lomas NE Blvd
    Albuquerque, NM 87102-2437
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.