Hard-Corner Mixed Use Investment Property for Sale

Industrial for Sale
Also listed as Vacant Land
Catylist Listing ID: 30730126
Property Subtypes: Mixed Use, Other
Building Size (RSF): 7,000 SF
Gross Land Area: 0.93 Acres
Sale Price: $550,000
Unit Price: $78.57 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/24/2021

Overview / Comments

Property is directly off Louisiana just south of Central, this property is in an easily accessible location from all directions. Currently the property consists of 2 vacant lots, a 3-bedroom house, 4 apartments, an office, detailing and mechanic shop and storage units. All of which are on month-to-month leases. A new sewer line was recently installed serving 2 apartment units.
Don’t miss this opportunity to acquire a cash-flowing investment property with tremendous upside potential.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Southeast
Tax ID/APN: 101905603317830306
Zoning: MX-L - Mixed-use: Low Intensity
Property Located Between: Central and Gibson
Site Description: The Property is offered with existing month to month, full-service leases in place. A buyer may potentially realize significant improvement in NOI by restructuring the leases and making a few minor adjustments to the operation of the Property: Bill back for electric & gas utilities Lease the owner-occupied office & shop space. Charge rent for the storage and shop space
Area Description: The property is located near the intersection of Louisiana and Southern Ave SE, just north of the Louisiana entrance to Kirtland Air Force Base, carrying 17,400 vehicles per day. Not only is the area well trafficked, it is conveniently located near Central Ave. (Route 66) and Expo New Mexico (the site of the New Mexico State Fair and numerous concerts and events) and the Downs casino and racetrack. Schools and parks surround this region which is populated by families and children.
Number of Stories: 1
Property Condition: Good
Zoning Description: MX-L Mixed Use Low Intensity

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,836 114,564 257,467
Median Age: 32.7 35.62 37.32
Households: 9,798 49,878 112,822

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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