230 Apartment Units Take to DRB for Site Plan For Building Permit

Vacant Land for Sale
Catylist Listing ID: 14150226
Property Subtypes: Multi-Family, Office
Gross Land Area: 9.05 Acres
Sale Price: $2,350,000
Unit Price: $259,668 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/21/2018

Overview / Comments

230 apartment units can go directly to DRB for Site Plan for Building Permit. Offsite improvements have been completed. Site Development Plan for Building Permit and architect work product for 40 West is under Photos & Documents. Total of 230 units: 94 (1-bedroom units), 64 (2-bedroom units), and 72 (3-bedroom units). Appeal 16-2 was accepted by the City Council on April 4, 2016 and reversed the decision of the Environmental Planning Commission by accepting and adopting the recommendation and findings of the Land Use Hearing Officer. The Notice of Decision, Findings and Conditions are under Photos & Documents. The appeal period expired May 13, 2016 with no appeal.

The Wal-Mart Neighborhood Market with a pharmacy and gas OPENED MARCH 13, 2016. There are 5 additional sites for other retail uses adjacent to the Wal-Mart.

Pulte Group sales started in December 2014 for the Mirehaven Del Webb Community and the Pulte homes similar to Loma Colorado have been excellent. These projects are adjacent to the Petroglyph National Monument on Tierra Pintada west of Unser.

Albuquerque Public Schools' Community Stadium is just southwest of the Mirehaven projects. Albuquerque Public Schools is on schedule to build new K-8 at the NWC of Arroyo Vista & Tierra Pintada for classes starting fall of 2018.

These projects are 1.5 miles from the SEC of Unser and Ladera.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: West Mesa
Taxing Authority: Bernalillo County
Tax ID/APN: 100905952600140105
Zoning: SU-2 - Special Neighborhood Zone
Market Type: Large
Property Located Between: Unser & Market
Side of Street: East
Road Type: Paved
Property Visibility: Excellent
Legal Description: Tract B-1 of Heritage Marketplace (Being a Replat of Tract B, Heritage Marketplace), Document # 2015079607
Largest Nearby Street: Ladera and Unser
Traffic/Vehicle Count: 33,100
Transportation: Bus, Highway
Highway Access: North of I-40 on Unser to SEC of Unser & Ladera.
Airports: Albuquerque Sunport International Airport & Double Eagle
Zoning Description: Su-2, SU-1 for Planned Office Park and Commercial, EPC Approval for Site Plan For Building Permit April 04, 2016.
Part of Planned Development?: Yes
Development Name: Heritage Marketplace
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,893 90,867 212,400
Median Age: 30.24 32.67 33.83
Households: 5,690 32,432 76,806
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