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    Griegos NW Rd Albuquerque, NM 87107
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    Griegos NW Rd Albuquerque, NM 87107

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    • Grocery and convenience stores
    • 23,719 SF
    • 3.32 lot acres
    Off-Market
    Property ID
    US61-0093791
    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
    $2,930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for Griegos NW Rd

    Year built
    1967
    Lot size
    3.32 lot acres
    Property size
    23,719 SF
    Property type
    Grocery and convenience stores
    APN
    1-014-061-400-020-4-03-11
    APU
    101406140002040311

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,736,000
      Market price range: $936k - $4.01M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,495,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $3,345,000
      Change: +34% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,995,000
      Change: +20% Conversion: Easy
      RESTAURANT
      $2,495,000
      Change: -0% Conversion: Easy
      OFFICE BUILDING
      $2,025,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.644
    Latitude
    35.1313
    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
    $35,391
    $257,214
    $382,661
    $639,875
    -
    $771,720
    $1,148,097
    $1,919,817

    Comparable in this City

    • Value Estimation by Request
      2,680 SF

      6600 2nd NW St

      CONVENIENCE STORE • 2,680 SF
      6600 2nd NW St, Albuquerque, NM 87107-6004
      View Details
    • Value Estimation
      $7,300,000
      67,375 SF

      6125 4th NW St

      GROCERY, SUPERMARKET • 67,375 SF
      6125 4th NW St, Albuquerque, NM 87107-5755
      View Details
    • Value Estimation by Request
      1,628 SF

      1201 Candelaria NW Rd

      CONVENIENCE STORE • 1,628 SF
      1201 Candelaria NW Rd, Albuquerque, NM 87107-2701
      View Details
    • Value Estimation by Request
      2,340 SF

      3205 Montgomery NE Blvd

      CONVENIENCE STORE • 2,340 SF
      3205 Montgomery NE Blvd, Albuquerque, NM 87107-4822
      View Details
    • Value Estimation
      $1,180,000
      22,392 SF

      1130 Candelaria NW Rd

      GROCERY, SUPERMARKET • 22,392 SF
      1130 Candelaria NW Rd, Albuquerque, NM 87107-2415
      View Details
    • Value Estimation by Request
      4,403 SF

      5605 4th NW St

      CONVENIENCE STORE • 4,403 SF
      5605 4th NW St, Albuquerque, NM 87107-5301
      View Details

    Similar Nearby for Sale

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      Albuquerque Retail Investment Opportunity

      Fully occupied retail center with attractive income potential in Albuquerque.
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    • $2,050,000
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      Albuquerque Auto Shop Investment

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    • New
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      0.62 Acres

      Versatile Commercial Property in Albuquerque

      Commercial property with shop, offices, and development potential.
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    • $1,600,000

      Ground Lease with National Tenant

      Ground lease with national credit tenant in front of Walmart.
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      6,660 SF

      Former Automotive Shop on Large Lot

      6,660 SF automotive shop on .36 acre lot.
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    • $2,500,000
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      Albuquerque Days Inn Investment

      46-unit hotel, fully renovated, prime location.
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    Similar Nearby for Lease

    • Contact for pricing
      700 SF

      Retail Space in Los Ranchos

      First generation retail spaces in walkable Los Ranchos location.
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    • Contact for pricing
      4,979 SF

      Los Ranchos Flexible Retail/Office

      Versatile 5,035 SF space in prime Los Ranchos location.
      6934 4Th St NW, Los Ranchos, NM 87107
      View Details
    • Contact for pricing
      2,392 SF

      Retail Space on Carlisle Blvd

      Retail space with high visibility and convenient midtown location.
      4001 Carlisle Blvd NE, Albuquerque, NM 87107
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    • Contact for pricing
      4,093 SF

      Retail Space in Albuquerque, NM

      Neighborhood center with national brand tenants and high traffic.
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    • $975 /Mo
      69,696 SF

      Retail Space in Los Ranchos

      Move-in ready retail spaces in walkable Los Ranchos location.
      350 Osuna Rd NW, Los Ranchos, NM 87107
      View Details
    • $1,800 /Mo
      69,696 SF

      Retail Space in Los Ranchos

      Move-in ready retail spaces in walkable Los Ranchos location.
      350 Osuna Rd NW, Los Ranchos, NM 87107
      View Details
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    Albuquerque, NM 87107
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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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