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

    6240 Riverside Plz NW Ln Albuquerque, NM 87120-3884

    • Office buildings
    • 16,490 SF
    • 1.38 lot acres
    OFF-MARKET
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0204228
    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

    • Fidelity National Title / Title Company
    • The NMWelcomeHome Team Keller Williams Realty Carlos Martinez / Real Estate Agency
    • Albuquerque Green Homes For Sale / Real Estate Agency
    • Ben Kinney Team | Albuquerque NM / Real Estate Agency
    • Navajo Injury Law / Law Firm

    Property Details for 6240 Riverside Plz NW Ln

    Year built
    2006
    Lot size
    1.38 lot acres
    Property size
    16,490 SF
    Property type
    Office buildings
    APN
    1-012-062-363-348-1-03-03
    APU
    101206236334810303

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,259,000
      Market price range: $754k - $1.54M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,100,000
      Current use
      AUTO REPAIR, GARAGE
      $1,550,000
      Change: +41% Conversion: Difficult
      RESTAURANT
      $1,445,000
      Change: +31% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,260,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.68
    Latitude
    35.1552
    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
    $27,714
    $218,108
    $359,554
    $577,662
    -
    $654,390
    $1,078,770
    $1,733,160

    Comparable in this City

    • Value Estimation by Request
      6,590 SF

      6640 Caminito Coors NW

      PROFESSIONAL BUILDING • 6,590 SF
      6640 Caminito Coors NW, Albuquerque, NM 87120-3119
      View Details
    • Value Estimation by Request
      5,058 SF

      3320 Coors NW Blvd

      PROFESSIONAL BUILDING • 5,058 SF
      3320 Coors NW Blvd, Albuquerque, NM 87120-1717
      View Details
    • Value Estimation by Request
      7,001 SF

      4901 Coors NW Blvd

      PROFESSIONAL BUILDING • 7,001 SF
      4901 Coors NW Blvd, Albuquerque, NM 87120
      View Details
    • Value Estimation by Request
      3,627 SF

      6312 Montano NW Rd

      PROFESSIONAL BUILDING • 3,627 SF
      6312 Montano NW Rd, Albuquerque, NM 87120-2170
      View Details
    • Value Estimation by Request
      1,440 SF

      7816 Alamo NW Rd

      PROFESSIONAL BUILDING • 1,440 SF
      7816 Alamo NW Rd, Albuquerque, NM 87120-4298
      View Details
    • Value Estimation by Request
      3,060 SF

      9121 High Assets NW Way

      PROFESSIONAL BUILDING • 3,060 SF
      9121 High Assets NW Way, Albuquerque, NM 87120-5808
      View Details

    Similar Nearby for Sale

    • $74,500
      Pending

      Albuquerque Land For Sale

      Residential land available in Albuquerque, New Mexico.
      6522 Ciruela Rd, Albuquerque, NM 87120
      View Details
    • $70,000
      Pending

      Commercial Land Ready For Build-Out

      Three contiguous lots ready for commercial use in rapidly growing district.
      6320 Montano Rd NW, Albuquerque, NM 87120
      View Details
    • Contact for pricing
      10.61 Acres

      Albuquerque Commercial Land Opportunity

      Prime Retail Land, High Growth Area
      0 Universe And Rainbow, Albuquerque, NM 87120
      View Details
    • Contact for pricing
      0.31 Acres

      Albuquerque Land Near Volcano Vista

      Investment opportunity near Volcano Vista High School, Albuquerque.
      3 Squaw Rd NW, Albuquerque, NM 87120
      View Details
    • $245,000
      4.99 Acres

      Albuquerque Land with 360 Views

      4.99 acres of land near rapid growth area.
      Scenic Dr NW, Albuquerque, NM 87120
      View Details
    • $65,000
      0.30 Acres

      Corner Lot in Volcano Cliffs

      Corner lot with mountain views in Volcano Cliffs, Albuquerque.
      5 Volcano Clf, Albuquerque, NM 87120
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      987 SF

      Professional Office Building For Rent

      Two-story office building in fast-growing West Albuquerque.
      6330 Riverside Plaza Ln, Albuquerque, NM 87120
      View Details
    • $450 /Mo
      31,363 SF

      Affordable Office Suite For Rent

      One-room office suite available for rent with utilities included.
      6300 Montano Rd NW, Albuquerque, NM 87120
      View Details
    • $22 SF/Yr
      1,200 SF

      Retail, Office, or Showroom Space

      1,200 SF space ideal for retail, office, or showroom.
      6001 Winter Haven Dr NW, Albuquerque, NM 87120
      View Details
    • $18 SF/Yr
      46,500 SF

      Riverside Plaza Retail Spaces

      Albuquerque retail space, 1200-1815 sq ft.
      6251 Riverside Plaza Ln, Albuquerque, NM 87120
      View Details
    • Contact for pricing
      12,139 SF

      Albuquerque Retail Center - Coors & Montano

      High-traffic retail space, excellent location.
      5600 Coors Blvd, Albuquerque, NM 87120
      View Details
    • Contact for pricing
      4,208 SF

      Grocery-Anchored Retail Space Available

      Retail space in high-traffic, grocery-anchored shopping center for lease.
      6200 Coors Blvd NW, Albuquerque, NM 87120
      View Details

    Property Visit Statistics

    • Visits by month
      5.7k
    • Visitors by month
      4.9k
    • Avg Time on site
      22 min
    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.
    6240 Riverside Plz NW Ln
    Albuquerque, NM 87120-3884
    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.