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    Property profile & analytics

    6200 Paseo Del Norte NE Albuquerque, NM 87113-1712

    • Outlet malls
    • 136,022 SF
    • 14.70 lot acres
    OFF-MARKET
    Value Estimations
    $2,850,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0398609
    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

    • Lowe's Garden Center / Garden Center
    • minuteKEY with KeyHero / Locksmith / (Bike/Boat/Book/etc) Store
    • Lowe's Home Improvement / Carpet & Flooring Store / Hardware & Home Improvement
    • Installation Services / General Contractor
    • Lowe's ProServices / Building Supply / Industrial Manufacturer

    Property Details for 6200 Paseo Del Norte NE

    Year built
    2000
    Lot size
    14.70 lot acres
    Property size
    136,022 SF
    Property type
    Outlet malls
    APN
    1-018-063-196-454-2-08-04
    APU
    101806319645420804

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.58
    Latitude
    35.1724
    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
    $175,817
    $2,109,847
    $1,554,839
    $3,664,686
    -
    $6,330,175
    $4,664,982
    $10,995,157

    Comparable in this City

    • Value Estimation
      $1,850,000
      89,185 SF

      6800 Holly NE Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 89,185 SF
      6800 Holly NE Ave, Albuquerque, NM 87113-1880
      View Details
    • Value Estimation
      $2,615,000
      123,838 SF

      6100 Paseo Del Norte NE

      WHOLESALE OUTLET, DISCOUNT STORE • 123,838 SF
      6100 Paseo Del Norte NE, Albuquerque, NM 87113-1512
      View Details
    • Value Estimation
      $670,000
      17,399 SF

      7120 Holly NE Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 17,399 SF
      7120 Holly NE Ave, Albuquerque, NM 87113-2544
      View Details
    • Value Estimation by Request
      5,590 SF

      7501 Paseo Del Norte NE, Unit 1

      SHOPPING CENTER, STRIP CENTER • 5,590 SF
      7501 Paseo Del Norte NE, Albuquerque, NM 87113-1764
      View Details
    • Value Estimation
      $825,000
      23,440 SF

      8100 Wyoming NE Blvd

      SHOPPING CENTER, STRIP CENTER • 23,440 SF
      8100 Wyoming NE Blvd, Albuquerque, NM 87113-1946
      View Details
    • Value Estimation by Request
      6,060 SF

      8100 Wyoming Blvd Nef

      SHOPPING CENTER, STRIP CENTER • 6,060 SF
      8100 Wyoming Blvd Nef, Albuquerque, NM 87113-1946
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,500 SF

      Retail Investment Opportunity Near Sandia

      Retail property with established tenants, high visibility, and strong potential.
      585 Osuna Rd NE, Albuquerque, NM 87113
      View Details
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      0.19 Acres

      North Valley Homesite with Views

      Ideal homesite in Albuquerque's North Valley with mountain views.
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      Albuquerque Land Ready to Build

      Infill lot ready for your dream home with owner financing.
      205 Utah St NE, Albuquerque, NM 87113
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      1.30 Acres

      1.3 AC Commercial Land, ABQ NE Heights

      Prime 1.3-acre lot, I-25 visibility, high traffic.
      9100 Pan American Fwy, Albuquerque, NM 87113
      View Details
    • $895,000

      Prime Corner Lot in Albuquerque

      Corner lot suitable for retail, office, or mixed-use development.
      6600 Edith Blvd Northeast, Albuquerque, NM 87113
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    • New
      $575,000
      1.40 Acres

      North Valley Agricultural Land

      1.4 acres with residence, greenhouse, and irrigation rights.
      10803 Edith Blvd NE, Albuquerque, NM 87113
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,275 SF

      Verano Plaza Office Space

      Single tenant office building in Verano Plaza available for rent.
      9200 San Mateo Blvd NE, Albuquerque, NM 87113
      View Details
    • $16 SF/Yr
      13,465 SF

      New Industrial Complex - For Lease

      Modern industrial space, multiple units available.
      1320 Cuesta Arriba Ct, Albuquerque, NM 87113
      View Details
    • $23 SF/Yr
      36,895 SF

      Prime Albuquerque Coworking Space

      Modern office suites, flexible sizes.
      8801 Horizon Blvd, Albuquerque, NM 87113
      View Details
    • Contact for pricing
      1 SF

      Albuquerque Commercial Land for Lease

      Prime 0.89-acre lot, single tenant.
      0 Seq San Mateo Blvd. & Pasadena Ave, Albuquerque, NM 87113
      View Details
    • $1,900 /Mo

      Vacant Land North I-25 Corridor

      Vacant land available for rent in North I-25 Corridor.
      5111 Wilshire Ave NE, Albuquerque, NM 87113
      View Details
    • Contact for pricing
      3,400 SF

      Industrial/Office/Showroom Space Available

      Industrial/office/showroom property with flexible options in the North I-25 submarket.
      5916 Anaheim Ave NE, Albuquerque, NM 87113
      View Details
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    Albuquerque, NM 87113-1712
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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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