Investment Offering | Downtown Office Building

Office for Sale
Catylist Listing ID: 30553542
Property Subtypes: Office Building
Building Size (RSF): 102,000 SF
Gross Land Area: 1.19 Acres
Sale Price: $6,200,000
Unit Price: $60.78 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: 111 Lomas Blvd NW
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 50
Last Updated: 3/2/2020

Overview / Comments

111 Lomas Boulevard is a five-story professional office building that offers a rare combination of the ground floor and full floor availability, security, Lomas frontage and parking convenience to its users. Located in downtown Albuquerque, the well-maintained building offers spacious suites with large windows, natural light, and excellent views. Suites vary in size and build, with opportunities to do both Class B and Class A buildouts. The convenient location makes walking to restaurants, breweries, government entities, and services easy. The interior includes amenities like kitchenettes, inviting lobbies, waiting areas, banking, and on-site maintenance.
The building is connected to a secure parking structure, allowing tenants and guests free, convenient, parking, a rare amenity in downtown. For added security, a uniformed security guard is on patrol and available to tenants, and the building and parking structure are securely locked down after hours. The on-site maintenance team and security personnel ensure that operations run smoothly for tenants and their guests.
The third floor of the building is currently vacant, providing an ideal opportunity for owner occupancy in this prominent downtown building. In the heart of beautiful, walkable downtown, the building is nearby many restaurants, entertainment venues, courthouses, and city, state and county offices, making it the perfect opportunity to thrive in the growing downtown area.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101405829713542107
Zoning: MX-FB-UD - Mixed-use: Form-based Urban Development Sub-zone
Property Located Between: Lomas and 1st Street
Property Visibility: Excellent
Highway Access: I-25 and I-40
Airports: Sunport
Area Description: The property enjoys excellent access to both I-25 and I-40 as well as state and federal courthouses. Nearby revitalization projects along Commercial St and Mountain Rd offer walkable amenities and high pedestrian counts.
Total Number of Buildings: 1
Number of Stories: 5
Year Built: 1989
Roof Type: Flat
Construction/Siding: Concrete - Tilt up
Parking Ratio: 3 (per 1000 SF)
Parking Type: Structure
Parking Description: Included with the property is a 321-space parking structure with covered top-level, which gives the property a parking ratio of over three per thousand square feet.
Total Parking Spaces: 321
Passenger Elevators: 4
Heat Type: Electricity, Natural Gas
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Zoning Description: Form-based Urban Development
Water Service: Municipal
Sewer Type: Municipal
Legal Description: TR A PLAT OF LTS 9-A, 10-A, 11-A & TR A BLK 12 FRANCISCO AR MIJO Y OTERO ADD MRGCD MAP 37 CONT 51,927 SQ FT M/L

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,238 112,990 302,079
Median Age: 35.65 35.64 35.4
Households: 7,834 47,915 123,961


Photograph of Listing Agent

John R Ransom

Colliers International CARNM CIE Member
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