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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6900 Reading SE Dr Albuquerque, NM 87105-7811

    • Warehouses
    • 2,356 SF
    • 3.12 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2022
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    6%
    Warehouses
    Location Intelligence
    Property ID
    US61-0337312
    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

    • Warehouses

    Property Details for 6900 Reading SE Dr

    Year built
    1996
    Lot size
    3.12 lot acres
    Property size
    2,356 SF
    Property type
    Warehouses
    APN
    1-013-050-379-484-1-01-08
    APU
    101305037948410108

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $280,000
      6.5%
      $260,000
      7%
      $240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $269,000
      Market price range: $92.5k - $269k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $175,000
      Current use
      COMMERCIAL (GENERAL)
      $365,000
      Change: +105% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $290,000
      Change: +65% Conversion: Easy
      RETAIL STORES
      $285,000
      Change: +60% Conversion: Moderate
      OFFICE BUILDING
      $260,000
      Change: +48% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.662
    Latitude
    34.9849
    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
    $8,851
    $54,993
    $187,802
    $242,795
    -
    $164,994
    $563,462
    $728,456

    Comparable in this City

    • Value Estimation
      $220,000
      1.00 Acre

      4510 Broadway SE Blvd

      WAREHOUSE, STORAGE • 1.00 Acre
      4510 Broadway SE Blvd, Albuquerque, NM 87105-7404
      View Details
    • Value Estimation
      $230,000
      0.06 Acres

      Broadway SE Blvd

      WAREHOUSE, STORAGE • 0.06 Acres
      Broadway SE Blvd, Albuquerque, NM 87105
      View Details
    • Value Estimation
      $225,000
      0.09 Acres

      2333 Brg SW Blvd

      WAREHOUSE, STORAGE • 0.09 Acres
      2333 Brg SW Blvd, Albuquerque, NM 87105
      View Details
    • Value Estimation
      $215,000
      1,500 SF

      1505 Airway SW Rd

      WAREHOUSE, STORAGE • 1,500 SF
      1505 Airway SW Rd, Albuquerque, NM 87105-3001
      View Details
    • Value Estimation
      $285,000
      2,752 SF

      3630 Cypress SW Dr

      WAREHOUSE, STORAGE • 2,752 SF
      3630 Cypress SW Dr, Albuquerque, NM 87105-2627
      View Details
    • Value Estimation
      $235,000
      1,720 SF

      1716 Harzman SW Rd

      WAREHOUSE, STORAGE • 1,720 SF
      1716 Harzman SW Rd, Albuquerque, NM 87105-3134
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,690 SF

      Albuquerque Industrial Park Rail Site

      61.13 acre industrial park with office/warehouse/manufacturing building.
      9615 Broadway Blvd SE, Albuquerque, NM 87105
      View Details
    • $3,148,203
      0.61 Acres

      South I-25 Albuquerque Industrial Land

      Prime Albuquerque industrial land, multiple lot options.
      0 William St, Albuquerque, NM 87105
      View Details
    • $525,000
      1.02 Acres

      Albuquerque Industrial Land - $525K

      Prime 1.02-acre industrial lot in Albuquerque.
      200 Rio Bravo Blvd, Albuquerque, NM 87105
      View Details
    • Contact for pricing
      90.00 Acres

      Westpointe 40: Prime Albuquerque Land

      90 Acres, Development-Ready, I-40 Access
      0 98Th St, Albuquerque, NM 87105
      View Details
    • $3,175,524
      10.80 Acres

      Albuquerque Industrial Land - 10.8 Acres

      Prime Albuquerque industrial land, ideal for development.
      3750 Prince St, Albuquerque, NM 87105
      View Details
    • $1,630,000
      7.57 Acres

      Albuquerque Industrial Land - 7.57 Acres

      Prime Southeast Albuquerque industrial land, ready to build.
      9219 Broadway Blvd, Albuquerque, NM 87105
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,781 SF

      Industrial Space Near Distribution Hub

      Industrial property with versatile floor plan and tenant improvement allowance.
      9210 Daytona Rd NW, Albuquerque, NM 87105
      View Details
    • Contact for pricing
      102,881 SF

      Prime Albuquerque Industrial Space

      102,881 SF Manufacturing/Flex/Warehouse
      3750 Prince St, Albuquerque, NM 87105
      View Details
    • Contact for pricing
      250,000 SF

      Mesa del Sol Industrial Space

      Albuquerque warehouse, distribution space available.
      0 Broadway Blvd, Albuquerque, NM 87105
      View Details
    • $2,100,000
      12,000 SF

      Albuquerque Warehouse Space Available

      12,000 SF warehouse space for lease in Albuquerque.
      7501 Reading Ave SE, Albuquerque, NM 87105
      View Details
    • $5 SF/Yr
      1,152 SF

      Warehouse Space with Secure Yard

      Warehouse space featuring on-site security and flexible door options.
      215 Rossmoor Ave SW, Albuquerque, NM 87105
      View Details
    • $18 SF/Yr
      22,405 SF

      Rio Bravo Shopping Center: Lease Opportunity

      South Valley retail space available; high traffic location.
      1698 Rio Bravo Blvd, Albuquerque, NM 87105
      View Details
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    Albuquerque, NM 87105-7811
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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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