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1041 Lamberton Pl NE 21,253 SF Office Building Albuquerque, NM 87107 $5,418,000 ($254.93/SF) 8.25% Cap Rate
EXECUTIVE SUMMARY
Opportunity to acquire a 15-year leased +/- 21,253 SF, single tenant facility fully leased to the State of New Mexico Health Care Authority (HCA). The new lease expires December 31, 2039. The subject property is situated on 2.37 acres in Albuquerque which has sub 5% office vacancy. This facility serves as a key location for the new State of New Mexico HCA (previously the Human Services Department). This facility handles the Medical Assistance Division Program (FY2026 budget request ~$1.678 billion), Developmental Disabilities Supports Division (FY2026 budget request ~$294 million), and the Division of Health Improvement (FY2026) budget request ~$11 million).
• State of New Mexico HCA has a 2025 budget of ~$1.992 billion
• New 15-year lease
• Recent $1.4 million capital investment into interior renovations and mechanical improvements (RTUs)
• State of New Mexico HCA has a 2025 budget of ~$1.992 billion
• New 15-year lease
• Recent $1.4 million capital investment into interior renovations and mechanical improvements (RTUs)
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
21,253 SF
Building Class
B
Year Built
2003
Price
$5,418,000
Price Per SF
$254.93
Cap Rate
8.25%
NOI
$447,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
21,253 SF
Building FAR
0.20
Lot Size
2.42 AC
Zoning
M-1 - Light Industrial
Parking
135 Spaces (6.35 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 1-015-059-226343-1-03-02 | Improvements Assessment | $709,740 |
| Land Assessment | $214,735 | Total Assessment | $924,475 |
PROPERTY TAXES
Parcel Number
1-015-059-226343-1-03-02
Land Assessment
$214,735
Improvements Assessment
$709,740
Total Assessment
$924,475
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1041 Lamberton Pl NE
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