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

    901 Tramway NE Blvd Albuquerque, NM 87123-1707

    • Residential income homes
    • 51,584 SF
    • 8.88 lot acres
    OFF-MARKET
    Value Estimations
    $6,390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0279277
    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

    • Sandia Vista Apartments / Apartment Complex
    • M&J'S ABOVE IT ALL - Novelty House / Coffee Stand / Jewelry Designer

    Property Details for 901 Tramway NE Blvd

    Year built
    1973
    Lot size
    8.88 lot acres
    Property size
    51,584 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    1-022-057-499-336-1-09-30
    APU
    102205749933610930

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,850,000
      6.5%
      $7,245,000
      7%
      $6,725,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,534,000
      Market price range: $2.61M - $8.41M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $5,555,000
      Current use
      COMMERCIAL (GENERAL)
      $7,110,000
      Change: +28% Conversion: Moderate
      RESTAURANT
      $5,420,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,340,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $4,735,000
      Change: -15% Conversion: Moderate
      RETAIL STORES
      $4,570,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.498
    Latitude
    35.0812
    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
    $0.00
    $857,298
    $1,251,312
    $2,108,610
    -
    $2,572,152
    $3,754,312
    $6,326,464

    Comparable in this City

    • Value Estimation
      $1,045,000
      26,240 SF

      13101 Wenonah SE Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 26,240 SF
      13101 Wenonah SE Ave, Albuquerque, NM 87123-3868
      View Details
    • Value Estimation
      $865,000
      5,712 SF

      514 Morris NE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,712 SF
      514 Morris NE St, Albuquerque, NM 87123-2867
      View Details
    • Value Estimation
      $685,000
      4,524 SF

      12824 Skyline NE Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,524 SF
      12824 Skyline NE Rd, Albuquerque, NM 87123-3005
      View Details
    • Value Estimation by Request
      2,016 SF

      716 Morris NE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,016 SF
      716 Morris NE St, Albuquerque, NM 87123-2872
      View Details
    • Value Estimation by Request
      980 SF

      149 General Marshall NE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 980 SF
      149 General Marshall NE St, Albuquerque, NM 87123-2525
      View Details
    • Value Estimation
      $1,025,000
      7,776 SF

      13500 Skyline NE Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,776 SF
      13500 Skyline NE Rd, Albuquerque, NM 87123-2186
      View Details

    Similar Nearby for Sale

    • $355,000
      Pending

      Albuquerque Fourplex: Investment Opportunity

      Cash flow positive fourplex with seller financing available in Albuquerque.
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    • $375,000
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      Albuquerque Quadruplex Near KAFB

      Quadruplex near KAFB, Sandia Labs, I-40, and Uptown.
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    • $425,000
      3,300 SF

      Albuquerque Multifamily Investment Opportunity

      Northeast Heights 4-plex, fully occupied, updated since 2020.
      134 Altez St NE, Albuquerque, NM 87123
      View Details
    • $225,000
      2,200 SF

      Albuquerque Multifamily Property with Potential

      Two-unit property with separate entrances and internal laundry rooms.
      12708 Copper Ave NE, Albuquerque, NM 87123
      View Details
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      Albuquerque Multifamily Investment Opportunity

      Northeast Heights 4-plex, fully occupied, updated since 2020.
      130 Altez St NE, Albuquerque, NM 87123
      View Details
    • $1,375,000
      8,134 SF

      Historic Route 66 Ranch Property

      Historic Route 66 ranch on 10.7 acres with multiple units.
      24 Matisse Rd NE, Albuquerque, NM 87123
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,497 SF

      Retail Space in High-Traffic Corridor

      Retail space available in a high-traffic Albuquerque location.
      36-40 Hotel Cir NE, Albuquerque, NM 87123
      View Details
    • $20 SF/Yr
      5,480 SF

      Office Space in Tech Park

      Office space for rent in Sandia Science & Tech Park.
      10421 Research Rd SE, Albuquerque, NM 87123
      View Details
    • $35 SF/Yr
      1,850 SF

      Retail Space in North Towne

      Retail space available in Whole Foods anchored North Towne Plaza.
      5901 Wyoming Blvd NE, Albuquerque, NM 87123
      View Details
    • $9 SF/Yr
      20,740 SF

      Albuquerque R&D Space Available

      High-bay warehouse, office & lab space.
      10500 Copper Ave, Albuquerque, NM 87123
      View Details
    • $2,000 /Mo
      33,977 SF

      Albuquerque Commercial Property For Rent

      High-traffic commercial property suitable for retail, automotive, or storage.
      9612 Central Ave SE, Albuquerque, NM 87123
      View Details
    • Contact for pricing
      23,522 SF

      Prime Juan Tabo Commercial Land

      1 Acre, High-Traffic Location, MX-H Zoning
      109 Juan Tabo Blvd, Albuquerque, NM 87123
      View Details
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    901 Tramway NE Blvd
    Albuquerque, NM 87123-1707
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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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