Historic Office Suite in
For Sale
Contact for pricing
219 Central Ave NW, Albuquerque, NM 87102
2nd and 7th floors available; 2nd is fully improved, while 7th offers a shell with utilities.
Property Size5,244 SF
Price / SF$175
Days on Market373
Property Features for 219 Central Ave NW
General Information
Standard status
Active
Size
5,244 SF
Property subtype
RETAIL
Amenities
rooftop deck
on-site coffee shop
key card access
attached parking garage
on-site security
Building Details
Year Built
1921
Construction
business renaissance
Tenancy
Multi
Listing Agency:
Colliers | Albuquerque
(505) 228-8818
Listed By:
Terrie Hertweck CCIM · License #13730
(505) 228-8818
Source:
Moodyscre
Added: Jul 23, 2025
Changed: Jul 26
Last Checked: Jul 30 at 10:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Albuquerque
Investment Insights
Based on property information with market context.
The Banque Lofts offers office suite options on the 2nd and 7th floors. The 2nd floor is fully improved, while the 7th floor is delivered as a shell with utilities. The building features distinctive early-1920s business renaissance architecture, including palladian-style windows and crafted decorative elements.
Located in Albuquerque’s downtown business district, the Banque Lofts is off historic Route 66. On-site security and key card access support an exceptionally secure environment. A connected breezeway provides access to an adjacent 3rd Street parking garage. A coffee shop, Mocha Joe’s, operates on the ground floor, and an approximately 8,000 SF rooftop deck with open-air balconies and 360-degree city views is available to tenants.
Additional space in the building includes occupied residential condos and other office and retail tenants that are not included in the offering.
Located in Albuquerque’s downtown business district, the Banque Lofts is off historic Route 66. On-site security and key card access support an exceptionally secure environment. A connected breezeway provides access to an adjacent 3rd Street parking garage. A coffee shop, Mocha Joe’s, operates on the ground floor, and an approximately 8,000 SF rooftop deck with open-air balconies and 360-degree city views is available to tenants.
Additional space in the building includes occupied residential condos and other office and retail tenants that are not included in the offering.
Key Highlights
- 2nd and 7th floors available for sale separately in the Banque Lofts (originally the First National Bank building).
- 2nd floor is fully improved; 7th floor is a shell with utilities.
- ~8,000 SF rooftop deck with 360‑degree city views and open‑air balconies for all tenants.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.3k | $21.60 |
| − Vacancy | −$20.4k | −$3.89 |
| EGI | $92.9k | $17.71 |
| − OpEx | −$23.2k | −$4.43 |
| NOI | $69.7k | $13.28 |
5,244 SF · lease $21.60/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$995.2K
$870.8K – $1.16M
NOI $69,661 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,804 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 2nd and 7th floors available; 2nd is fully improved, while 7th offers a shell with utilities.
Where is this office units located?
The property is located at 219 Central Ave NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $917,700.
What are key features of this property?
This property features: 2nd and 7th floors available for sale separately in the Banque Lofts (originally the First National Bank building).; 2nd floor is fully improved; 7th floor is a shell with utilities.; ~8,000 SF rooftop deck with 360‑degree city views and open‑air balconies for all tenants.
