Commercial Office with 20 Ac. Irrigated Farm Old Town Albuquerque

Vacant Land for Sale
Catylist Listing ID: 29823180
Property Subtypes: Agricultural, Office, Residential (Single Family)
Gross Land Area: 20 Acres
Sale Price: $3,100,000
Unit Price: $155,000 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/15/2017

Overview / Comments

Rare opportunity to purchase an office with irrigated farm land parcel in Old Town for Commercial office, Agribusiness or infill residential redevelopment. 17 acres Zoned RA-1, 3 acres zoned SU-1 for office. 1031 Exchange opportunity to own rare land piece and create an agribusiness.
High Lonesome Ranch has been utilized as a commercial office and working farm for past thirty years. Located adjacent to the bike trail along I-40 near the Rio Grande Bosque.
Enormous cottonwood trees grace the main entrance court, and the main dwelling is surrounded by 17 acres of agricultural land. The rambling adobe was built ca. 1946 by Esquipula Romero de Romero. His special touches include niches for display, tiled windowsills, sunken roman tub, elaborate wood ceilings, bas-relief detail on bookshelves and doorways. The beveled glass transom was designed to act as a prism for the afternoon rays of the sun. The colors of the reflections were repeated in the grooves in the ceiling. The home was built for the Alford family who named it La Hacienda. “La Hacienda” actually consists of three separate houses linked by adobe archways extending to a total 312 feet in length from north to south and a total of 8,000 sq. ft. The buildings are separately platted and zoned SU-1 for office. Amazing property you must tour. Appointment with Agent - please do not disturb tenants. Water rights available as separate purchase.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 1 012 059 304 080 40118
Zoning: RA-1 - Residential and Agricultural Zone, Semi-Urban Area
Market Type: Medium
Property Located Between: Rio Grande Boulevard and Gabaldon off of Mountain Road
Side of Street: East
Road Type: Paved
Property Visibility: Good
Legal Description: TR 1A plat for Tracts 1A, 1B, 1C of Eden Land cont 17.8553 ac/ Tr 1C plat for TR 1A-1C 2.9543 Ac
Largest Nearby Street: Rio Grande Boulevard
Transportation: Other
Highway Access: Interstate I-40 is near the property with Rio Grande Blvd. as the access to freeway
Airports: Albuquerque International Airport, Double Eagle Regional Airport
Site Description: 17 acres of level irrigated agricultural land currently planted with permanent pasture. 3 acres of level land includes 8000 sq. ft. of office space under three separate roofs. Domestic well on site. City water and sewer is located on the street in front of property.
Area Description: Old Town, Downtown
Zoning Description: RA-1 for agricultural / residential purposes. SU-1 for office use.
Development Name: High Lonesome Ranch
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Well
Sewer Type: Septic

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,093 122,316 264,876
Median Age: 39.15 34.9 34.03
Households: 3,719 48,220 101,147

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