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    7111 Prospect Pl NE Albuquerque, NM 87110
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    7111 Prospect Pl NE Albuquerque, NM 87110

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    • Medical Office Space
    • 16,426 SF
    • 1.24 lot acres
    For Sale
    $2,400,000
    View Listing →
    Uptown Market Building For Sale For Sale
    $2,400,000
    15,836 SF

    Uptown Market Building For Sale

    Located in the heart of Uptown Market, Albuquerque.

    7111 Prospect Pl NE, Albuquerque, NM 87110
    View Listing
    Property ID
    US61-0282290
    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

    • Cosmetic Dental Arts / Dental Office
    • Lonnie's Jewelers / (Bike/Boat/Book/etc) Store
    • Dr. John W. Boutz, DDS / Dental Office
    • Pe Chang / Dental Office
    • Sage Specialty Care / Medical Clinic

    Property Details for 7111 Prospect Pl NE

    Year built
    1968
    Lot size
    1.24 lot acres
    Property size
    16,426 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    1-019-059-105-186-3-10-41
    APU
    101905910518631041

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $684,000
      Market price range: $511k - $1.36M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $860,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.565
    Latitude
    35.107
    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
    $7,717
    $165,130
    $129,750
    $294,880
    -
    $495,440
    $389,290
    $884,730

    Comparable in this City

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      2017 San Mateo NE Blvd

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      2,443 SF

      8314 Kaseman NE Ct

      MEDICAL BUILDING • 2,443 SF
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      0.07 Acres

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      MEDICAL BUILDING • 0.07 Acres
      3401 Carlisle NE Blvd, Albuquerque, NM 87110-1648
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,836 SF

      Uptown Market Building For Sale

      Located in the heart of Uptown Market, Albuquerque.
      7111 Prospect Pl NE, Albuquerque, NM 87110
      View Details
    • Contact for pricing
      17,936 SF

      Cutler Avenue Office Building For Sale

      Office building with electronic billboards and seller financing available.
      4110 Cutler Ave NE, Albuquerque, NM 87110
      View Details
    • $380,000
      3,534 SF

      Uptown Commercial Space For Sale

      Prime commercial space in Uptown with over 3,500 square feet.
      2511 Utah St NE, Albuquerque, NM 87110
      View Details
    • $1,495,000
      8,256 SF

      Freestanding Office Building in Uptown

      Freestanding office building with long-term tenant in place.
      7000 Prospect Pl Northeast, Albuquerque, NM 87110
      View Details
    • $2,500,000
      15,655 SF

      NE Heights Office Building Investment

      Prime Albuquerque Office, Multi-Tenant Income
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    • $350,000
      1,225 SF

      1,225 SF Free standing Professional Building For Sale

      1,225 SF Free standing Professional Building For Sale
      2907 San Mateo Blvd NE, Albuquerque, NM 87110
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,000 SF

      Medical Office Near Uptown

      Medical office building with abundant parking near Uptown area.
      8010 Mountain Rd NE, Albuquerque, NM 87110
      View Details
    • Contact for pricing

      Turn-Key Medical Office Suite Available

      Prime retail space with state-of-the-art medical buildout.
      2839 Carlisle Blvd NE, Albuquerque, NM 87110
      View Details
    • $14 SF/Yr
      5,800 SF

      Modern Albuquerque Office Space

      5,800 sq ft office space for lease.
      2509 Virginia St NE, Albuquerque, NM 87110
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    • Contact for pricing
      1,650 SF

      Medical Office Space Available

      Medical office space near Presbyterian Kaseman Hospital for rent.
      7800 Constitution Ave NE, Albuquerque, NM 87110
      View Details
    • Contact for pricing

      Office Space with Natural Light

      Office building for rent with monument signage and strong parking.
      6121 Indian School Rd NE, Albuquerque, NM 87110
      View Details
    • Contact for pricing

      Albuquerque Office Space Ready

      2,100 SF office space in Albuquerque for rent.
      5310 Homestead Rd NE, Albuquerque, NM 87110
      View Details
    View Listing
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    Albuquerque, NM 87110
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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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