Menaul and University

Vacant Land for Sale
Catylist Listing ID: 29986914
Property Subtypes: Hospitality, Retail, Other
Gross Land Area: 6.49 Acres
Sale Price: $2,950,000
Unit Price: $454,545 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 6/19/2017

Overview / Comments

Join Galles Chevrolet (under construction)!

Incredible visibility from Interstate 25. Great site for auto sales, hotels, restaurants and many more.

Existing income in place; all short-term leases from existing building tenants and yard leases.

MRCOG 2040 Futures Plan depicts a preferred transit network (BRT/ART Route) connecting the Airport via University to Journal Center (in front of this site).
Onsite pylon sign with freeway visibility.

Traffic Counts: Menaul – 23,450 CPD (per MRCOG, 2014)
University – 21,790 CPD @ University and Indian School (no data at Menaul)
Interstate 25 – 176,300 CPD

Dimensions: 900’ x 365’ (approximately)

Zoning: M-1 Light Manufacturing (City of Albuquerque)

Building: 14,000± sf multi-tenant retail/office (partially leased)

The site has a wide range of possibilities, given the recent purchase by Galles Chevrolet at Candelaria and University - this site is prime for redevelopment. Galles Chevrolet has a long history in the automotive industry, having been in business since 1908. Automobile sales would be natural fit for this parcel.

The site could also be redeveloped into retail pads (200’ to 360’ deep), with possible uses including; entertainment venue, hotels, restaurants or many other uses requiring high visibility.

Located at the crossroads of the City and State; the property has the ability to serve as a regional draw for users looking to service a large geographic area.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Tax ID/APN: ABQ95184
Zoning: M-1 - Light Manufacturing Zone
Property Located Between: Interstate 25 and University
Property Visibility: Excellent
Legal Description: TR of LD in SEC 9 T10N R3E in the S/2 SW/4 SE4 NE/4 exc the se’ly port out to R/W at the NW Corner of Menaul & University & Exc a w’ly port out to R/W at Menaul & I-25

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,502 130,919 332,478
Median Age: 33.79 36.9 37.2
Households: 4,634 59,548 140,704

Source

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