Catylist Listing ID: 30561929
Property Subtypes: Office Building
Building Size (RSF): 106,942 SF
Gross Building Area: See Agent
Gross Land Area: 1.33 Acres
Sale Price: $7,985,000
Unit Price: $74.67 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: New Mexico Bank & Trust Building
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 10.4%
Last Updated: 9/13/2021

Overview / Comments

320 Gold is an iconic 14-story Class B office building located in Downtown Albuquerque, NM. The building features great views, an on- site bank with a free-standing drive through, a snack bar, and on-site parking.

• Near-term upside potential
• Below replacement cost
• Positioned in the pathway of redevelopment
• Significant runway for investors entering the market
• New Mexico Bank & Trust anchor tenant with ±23,571 square feet (22%)
• Tenancy comprised of national and local professional firms

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101405717336622506
Zoning: MX-FB-UD - Mixed-use: Form-based Urban Development Sub-zone
Property Located Between: (N) Silver (S) Gold (E) 4th (W) 3rd - Downtown Albuquerque
Property Visibility: Excellent
Site Description: Net Rentable Area - 106,942± RSF Leased - 85.42% In-Place Cap Rate - 10.40% Building Details - 14-story Class B office building located in Downtown ABQ Year Built - 1967 - Major Remodel 1985 Typical Floor Sizes - 7,605± RSF Site - 1.33± Acres On-Site Parking - 3.17± per 1,000 Secured parking structure & Surface
Total Number of Buildings: 1
Number of Stories: 14
Typical SF / Floor: 7,605 SF
Year Built: 1961
Year Renovated: 1985
Parking Ratio: 3.2 (per 1000 SF)
Parking Type: Structure, Surface
Parking Description: 304 spaces in parking structure 35 spaces in surface area
Total Parking Spaces: 339

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,212 113,243 293,357
Median Age: 35.81 35.09 34.8
Households: 6,529 46,912 119,095

Contact

Photograph of Listing Agent

Jim P Dountas

CBRE, Inc.
CARNM CIE Member
Photograph of Listing Agent

Barbara Cuoco

REA | Real Estate Advisors
CARNM CIE Member
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