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    524 Central SW Ave Albuquerque, NM 87102-3114
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    Property profile & analytics

    524 Central SW Ave, Albuquerque, NM 87102-3114

    View on Map
    • Parking lots & garages
    • 10,425 SF
    Off-Market
    Property ID
    US61-0931764
    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

    • NM Apartment Advisors, Inc. / Real Estate Agency
    • MTM Model Management / Employment Agency
    • The Residences at Anasazi / Apartment Complex
    • Immastar Productions / Artist

    Property Details for 524 Central SW Ave

    Year built
    2008
    Property type
    Parking lots & garages
    APN
    1-014-057-103-429-2-74-01-AC
    APU
    101405710342927401AC

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2021 — Laura Love — Deed · related $91k · Calcon Mutual Mortgage LLC
    Nov 15, 2019 — Justin Bernstein Peter M Romero Warranty Deed $239k · Wallick & Volk
    May 24, 2019 — David,henoch Barch Trust Devine,robert Warranty Deed · related —
    May 1, 2019 — Robert A Devine Robert A Devine Correction Deed · related —
    Mar 29, 2019 — Robert A Devine Robert A Devine Correction Deed · related —
    Jan 16, 2019 — Eddie A Chavez JR Eddie A JR Correction Deed · related —
    Jan 4, 2019 — Robert Devine Devine,robert Quit Claim Deed · related —
    Jan 4, 2019 $148,500 Robert Devine Nmre Holdings LLC Grant Deed · related —
    Jan 4, 2019 $146,500 Robert Devine Flf 409 LLC Grant Deed · related —
    Jun 1, 2018 — Albuquerque Re Holdings LLC Pem Of Fsf 524 Central LLC Warranty Deed · related $149k · Pem/fsf 524 Central LLC
    Nov 9, 2017 — Toby Vigil Pem Of Fsf 524 Central LLC Warranty Deed $114k · Onetrust Hm Loans

    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
    -106.654
    Latitude
    35.0845
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $1.00
    $1.00

    Comparable in this City

    • Value Estimation
      $635,000
      103,108 SF

      400 Gold SW Ave

      PARKING GARAGE, PARKING STRUCTURE
      400 Gold SW Ave, Albuquerque, NM 87102-3283
      View Details
    • Value Estimation by Request
      0.09 Acres

      318 6th SW St

      PARKING GARAGE, PARKING STRUCTURE
      318 6th SW St, Albuquerque, NM 87102
      View Details
    • Value Estimation
      $610,000
      107,335 SF

      521 Lead SW Ave

      PARKING GARAGE, PARKING STRUCTURE
      521 Lead SW Ave, Albuquerque, NM 87102
      View Details
    • Value Estimation by Request
      15,748 SF

      110 Un Sq SE St

      PARKING GARAGE, PARKING STRUCTURE
      110 Un Sq SE St, Albuquerque, NM 87102
      View Details
    • Value Estimation by Request
      10,425 SF

      524 Central SW Ave

      PARKING GARAGE, PARKING STRUCTURE
      524 Central SW Ave, Albuquerque, NM 87102-3114
      View Details
    • Value Estimation
      $830,000
      200,834 SF

      330 Tijeras NW Ave

      PARKING GARAGE, PARKING STRUCTURE
      330 Tijeras NW Ave, Albuquerque, NM 87102-3267
      View Details

    Similar Nearby for Sale

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      Albuquerque Industrial Property For Sale

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      Historic Banque Lofts on Central

      Landmark mixed-use property in downtown Albuquerque, originally First National Bank.
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      Downtown Albuquerque Historic Building

      6,555 SF building with two units in downtown Albuquerque.
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      5,244 SF

      Historic Albuquerque Landmark Office Space

      Unique office space in downtown Albuquerque's historic Banque Lofts.
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      1,441 SF

      Retail Space on Lomas Boulevard

      Retail space with frontage on a major thoroughfare.
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    Similar Nearby for Lease

    • $2,000 /Mo
      17,424 SF

      Downtown Albuquerque Parking Lot Rental

      Downtown Albuquerque parking lot with 74 spaces for rent.
      215-223 Marble Ave NW, Albuquerque, NM 87102
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    • $16 SF/Yr

      Downtown Albuquerque Landmark Office Building

      Premier downtown location with modern amenities and telecommunications infrastructure.
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      3,145 SF

      Retail Space on Broadway Boulevard

      Retail space available for lease in Albuquerque, New Mexico.
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      500 SF

      Downtown Retail Space Available

      Retail space near convention center, hotels, and restaurants.
      315-325 Central Ave NW, Albuquerque, NM 87102
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    • Contact for pricing
      6,603 SF

      Retail Space on Broadway Boulevard

      Retail space available for lease on Broadway Boulevard.
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    • Contact for pricing

      Downtown Retail & Restaurant Spaces

      Prime retail and restaurant spaces available in downtown Albuquerque.
      1 Central Ave NW, Albuquerque, NM 87102
      View Details
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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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