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Property profile & analytics
FOR LEASE
Medical Office Space
801 Encino Pl NE Albuquerque, NM 87102
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US61-0233981
For Lease
1 / 2
$18.50 SF/Yr
801 Encino Pl NE, Albuquerque, NM 87102
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1965
Total area
10,960 SF
Lot
5.36 ac (233,525 SF)
APN
1-015-058-220-090-3-09-06
UPID
US61-0233981
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Diana Ulrickson DDS Dental Office Physician
-
Mc Allister Greg DDS Dental Office
-
Lopez Leonard R DDS Dental Office
-
Dr. Brant W. Hager, MD Physician
-
UNM Truman Health Services Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$576k
Blend (final)
Blend
$580k
Owner & transaction history
Med Arts LLC · 11 yrs held
Med Arts LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$705,000
+40.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albuquerque submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albuquerque submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$500,000
Current use
WAREHOUSE, STORAGE
$705,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$53 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$82,181
Tax year 2023
Assessed value
$1,712,968
Assessed 2023
Previous assessed
$1,557,244
+10.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$470,936
Assessed improvement
$1,242,032
Land market value
$1,412,950
Improvement market value
$3,726,470
Total market value
$5,139,420
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1965
Heating
NONE
Units
1
Total area
10,960 SF
Lot
5.36 ac (233,525 SF)
APN
1-015-058-220-090-3-09-06
UPID
US61-0233981
Jurisdiction
BERNALILLO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$500,000
WAREHOUSE, STORAGE
Est. value
$705,000
MEDICAL BUILDING Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Heating
NONE
Units
1
Lot
5.36 ac
Current owner
From public records · entity-resolved
Med Arts LLC
Entity
Mailing address
449 15TH ST #400, OAKLAND, CA 94612-2821
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2024
—
Med Arts LLC
—
Deed
related
$3,700,000 · Nusenda FCU
Oct 14, 2014
—
Med Arts LLC
Coolidge Medical Arts LLC
Special Warranty Deed
$4,235,000 · Walker & Dunlop Commercial Property
Jun 22, 2007
—
Coolidge Medical Arts LLC
Medartssq Ltd
Grant Deed
$3,960,000 · Eurohypo Ag
—
—
Coolidge Medical Arts LLC
—
Deed Of Trust
related
$4,000,000 · Everbank
—
—
Medartssq Ltd Co
—
Deed Of Trust
related
$3,200,000 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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