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    8510 Montgomery Blvd NE Albuquerque, NM 87111
    Property profile & analytics

    8510 Montgomery Blvd NE Albuquerque, NM 87111

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    • Strip malls
    • 17,745 SF
    • 1.15 lot acres
    For Lease
    View Listing →
    Target Anchored Shopping Center Space For Lease
    Contact for pricing

    Target Anchored Shopping Center Space

    Retail spaces available in high-volume shopping center with upcoming renovation.

    8510 Montgomery Blvd NE, Albuquerque, NM 87111
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    Property ID
    US61-0172615
    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

    • Nearby Tow Truck LLC / Auto Repair Shop
    • CVS Pharmacy / Pharmacy
    • Target / Electronics & Wireless Store
    • Ettin Games ABQ / Electronics & Wireless Store / (Bike/Boat/Book/etc) Store
    • The Grey Heron / Home Decor Store / Department Store

    Property Details for 8510 Montgomery Blvd NE

    Year built
    1988
    Lot size
    1.15 lot acres
    Property size
    17,745 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1-020-060-122-475-2-21-53
    APU
    102006012247522153

    Description

    This exceptional 2,960 square foot retail space is located in the Montgomery Crossing II shopping center at 8510 Montgomery Blvd NE, Albuquerque, NM 87111. Situated in the Northeast Heights submarket of Bernalillo County, this end-cap unit within a single-story strip center benefits from high visibility on Montgomery Boulevard, boasting 34,600 vehicles per day. The property is part of a Target-anchored center experiencing over 1.4 million annual visits, ensuring significant foot traffic. A complete renovation is planned, promising a refreshed look and feel. New ownership is committed to tenant success and synergy, and a tenant allowance is available. Ample parking is provided for convenient customer access. The surrounding area demonstrates strong demographics, with an average household income exceeding $97,802 within a one-mile radius. This prime location offers a unique opportunity for businesses seeking high visibility and a thriving customer base in a revitalized shopping center. The property is a single building, one-story structure.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.547
    Latitude
    35.1292
    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
    $17,276
    $152,403
    $207,697
    $360,100
    -
    $457,255
    $623,153
    $1,080,408

    Comparable in this City

    • Value Estimation
      $890,000
      40,006 SF

      12500 Montgomery NE Blvd

      SHOPPING CENTER, STRIP CENTER • 40,006 SF
      12500 Montgomery NE Blvd, Albuquerque, NM 87111-4117
      View Details
    • Value Estimation
      $955,000
      26,410 SF

      11000 Montgomery NE Blvd

      SHOPPING CENTER, STRIP CENTER • 26,410 SF
      11000 Montgomery NE Blvd, Albuquerque, NM 87111
      View Details
    • Value Estimation
      $1,510,000
      60,965 SF

      3301 Juan Tabo NE Blvd

      SHOPPING CENTER, STRIP CENTER • 60,965 SF
      3301 Juan Tabo NE Blvd, Albuquerque, NM 87111-5157
      View Details
    • Value Estimation
      $1,485,000
      82,620 SF

      5900 Eubank NE Blvd

      SHOPPING CENTER, STRIP CENTER • 82,620 SF
      5900 Eubank NE Blvd, Albuquerque, NM 87111-7005
      View Details
    • Value Estimation by Request
      9,928 SF

      5900 Eubank NE Blvd

      SHOPPING CENTER, STRIP CENTER • 9,928 SF
      5900 Eubank NE Blvd, Albuquerque, NM 87111-7005
      View Details
    • Value Estimation
      $945,000
      35,632 SF

      9800 Montgomery NE Blvd

      SHOPPING CENTER, STRIP CENTER • 35,632 SF
      9800 Montgomery NE Blvd, Albuquerque, NM 87111-3576
      View Details

    Similar Nearby for Sale

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      Land Ideal for Commercial Use

      Land suitable for retail, multifamily, and commercial development.
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      Albuquerque Commercial Property For Sale

      Commercial property with excellent location and lease history in Albuquerque.
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      23,427 SF

      Northeast Heights Freestanding Building

      Versatile 23,427 SF building suitable for office, medical, or retail.
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      Functional Medical Office Condo

      Well-designed medical office condo with fully equipped exam rooms.
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      Land in High-Traffic Area

      Commercial land with high visibility and multiple access points.
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      1,672 SF

      Well-Maintained Office Condominium For Sale

      1,672 SF office condominium with mountain views and excellent access.
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    Similar Nearby for Lease

    • Contact for pricing

      Target Anchored Shopping Center Space

      Retail spaces available in high-volume shopping center with upcoming renovation.
      8510 Montgomery Blvd NE, Albuquerque, NM 87111
      View Details
    • $30 SF/Yr
      1,200 SF

      Retail Space in Albuquerque, NM

      Retail space available in Walmart & Smith’s anchored shopping center.
      8060 Academy Rd NE, Albuquerque, NM 87111
      View Details
    • Contact for pricing

      Los Altos Plaza Retail/Office Space

      Retail and office suites available in redeveloping NE Heights.
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      3,100 SF

      Prime Albuquerque Retail Pad Site

      3,100 SF Restaurant Space Available
      5640 Wyoming Blvd, Albuquerque, NM 87111
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      Retail Space in Albuquerque

      Retail space available in Walmart & Smith's anchored shopping center.
      8030 Academy Rd NE, Albuquerque, NM 87111
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    • Contact for pricing
      1,196 SF

      Retail & Restaurant Space Available

      Retail and restaurant spaces for lease near High Desert community.
      4700 Tramway Blvd NE, Albuquerque, NM 87111
      View Details
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    Albuquerque, NM 87111
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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.

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