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

    8301 Spain NE Rd Albuquerque, NM 87109-3166

    • Office buildings
    • 3,856 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Nov 30, 2022
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0316374
    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

    • Academy Orthopaedic Clinic / Medical Clinic / Orthopedic Clinic
    • Jeffrie Felter MD / Orthopedic Surgeon / Doctor
    • Grace Thomas G MD / Orthopedic Surgeon
    • Hawkes April B / Nursing Agency
    • Ghadimi Reza / Nursing Agency

    Property Details for 8301 Spain NE Rd

    Year built
    1984
    Lot size
    0.29 lot acres
    Property size
    3,856 SF
    Property type
    Office buildings
    APN
    1-019-061-502-344-1-08-24
    APU
    101906150234410824

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $203,000
      Market price range: $123k - $373k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $255,000
      Current use
      COMMERCIAL (GENERAL)
      $285,000
      Change: +12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.552
    Latitude
    35.1402
    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
    $4,209
    $29,364
    $58,361
    $87,725
    -
    $88,100
    $175,100
    $263,200

    Comparable in this City

    • Value Estimation
      $1,040,000
      62,097 SF

      5421 Jefferson NE St

      PROFESSIONAL BUILDING • 62,097 SF
      5421 Jefferson NE St, Albuquerque, NM 87109-3406
      View Details
    • Value Estimation
      $310,000
      5,900 SF

      6727 Academy NE Rd

      PROFESSIONAL BUILDING • 5,900 SF
      6727 Academy NE Rd, Albuquerque, NM 87109-3391
      View Details
    • Value Estimation
      $235,000
      3,260 SF

      5931 Jefferson NE St

      PROFESSIONAL BUILDING • 3,260 SF
      5931 Jefferson NE St, Albuquerque, NM 87109-3454
      View Details
    • Value Estimation
      $685,000
      11,978 SF

      6700 Jefferson NE St

      PROFESSIONAL BUILDING • 11,978 SF
      6700 Jefferson NE St, Albuquerque, NM 87109-4382
      View Details
    • Value Estimation
      $305,000
      2,076 SF

      5750 Pino NE Ave

      PROFESSIONAL BUILDING • 2,076 SF
      5750 Pino NE Ave, Albuquerque, NM 87109-5709
      View Details
    • Value Estimation
      $980,000
      33,491 SF

      6500 Jefferson NE St

      PROFESSIONAL BUILDING • 33,491 SF
      6500 Jefferson NE St, Albuquerque, NM 87109-3489
      View Details

    Similar Nearby for Sale

    • $4,075,000
      11,700 SF

      Albuquerque Office Building For Sale

      11,700 SF office building with long-term tenant.
      4010 Montgomery Blvd NE, Albuquerque, NM 87109
      View Details
    • $730,000
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      Albuquerque Office Building For Sale

      Office building featuring newer HVAC, warrantied roof, and security monitoring.
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    • $2,778,000
      12,078 SF

      Albuquerque Office Building For Sale

      Office building with open layout, renovated in 2015.
      101 Sun Ave Northeast, Albuquerque, NM 87109
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    • $13,341,164
      74,043 SF

      Albuquerque Office Building For Sale

      High-occupancy office building with stable tenants and redevelopment potential.
      4243 Montgomery Blvd NE, Albuquerque, NM 87109
      View Details
    • $2,778,000
      12,078 SF

      Albuquerque Class-A Office Building

      12,078 SF Creative Office, Vacant
      101 Sun Ave, Albuquerque, NM 87109
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    • $4,600,000
      11,700 SF

      Albuquerque Medical Office Building

      11,700 SF, 100% Occupied, NNN Lease
      4010 Montgomery Blvd, Albuquerque, NM 87109
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      8,961 SF

      Prime North I-25 Office Space

      Flexible Suites, Excellent Location
      5601 Office Blvd, Albuquerque, NM 87109
      View Details
    • $25 SF/Yr
      10,453 SF

      Wyoming Blvd NE Medical Office Space

      Prime Medical/Office Space, 5,142 SF Available
      7910 Wyoming Blvd, Albuquerque, NM 87109
      View Details
    • $14 SF/Yr
      65,574 SF

      Fiesta Crossings Retail Center Investment

      Albuquerque Retail Center - Prime Location
      4770 Montgomery Blvd, Albuquerque, NM 87109
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    • $26 SF/Yr
      55,000 SF

      One Sun Plaza B Office Space

      Prestigious Albuquerque office suites, flexible layouts.
      101b Sun Ave, Albuquerque, NM 87109
      View Details
    • $19 SF/Yr
      21,923 SF

      Albuquerque Office Space for Lease

      Prime Albuquerque location, multiple suites available.
      4100 Osuna Rd, Albuquerque, NM 87109
      View Details
    • $22 SF/Yr
      600 SF

      Office Space in Business Complex

      Office suites available in a well-located business complex.
      4119-4227 Montgomery Blvd NE, Albuquerque, NM 87109
      View Details
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    Albuquerque, NM 87109-3166
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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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