Historically Designed Office
For Sale
Contact for pricing
219 Central Ave NW, Albuquerque, NM 87102
2nd floor is fully improved and 7th floor is a shell with utilities in a landmark early-1920s building.
Property Size7,524 SF
Price / SF$198.70
Days on Market478
Property Features for 219 Central Ave NW
General Information
Standard status
Active
Size
7,524 SF
Property subtype
RETAIL
Amenities
on-site security
key card access
attached breeze way access to adjacent parking garage
on-site coffee shop
rooftop deck
open air balconies
Building Details
Year Built
1921
Construction
business renaissance
Listing Agency:
Colliers | Albuquerque
(505) 883-7676
Listed By:
Terrie Hertweck CCIM · License #13730
(505) 228-8818
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Oct 9
Last Checked: Oct 12 at 7:29PM
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 space on the 2nd and 7th floors, available for sale separately. The 2nd floor is fully improved, while the 7th floor is delivered as a shell with utilities. The building’s exterior and detailing reflect its original early-1920s design by Trost and Trost, including palladian-style windows and architectural ornamentation.
Access is supported by an attached breeze way to adjacent 3rd Street parking garage. The property also features on-site security with key card access and an on-site ground-floor coffee shop, Mocha Joe’s. Tenants can access a rooftop deck of approximately 8,000 square feet with open-air balconies and 360-degree city views.
The Banque Lofts is recognized as a downtown Albuquerque landmark and was historically known as the First National Bank building. The building includes residential condos and occupied office and retail tenants that are not included in the offering.
Access is supported by an attached breeze way to adjacent 3rd Street parking garage. The property also features on-site security with key card access and an on-site ground-floor coffee shop, Mocha Joe’s. Tenants can access a rooftop deck of approximately 8,000 square feet with open-air balconies and 360-degree city views.
The Banque Lofts is recognized as a downtown Albuquerque landmark and was historically known as the First National Bank building. The building includes residential condos and occupied office and retail tenants that are not included in the offering.
Key Highlights
- Landmark early‑1920s Banque Lofts building originally designed by Henry Charles Trost; became an Albuquerque landmark in 1979
- 2nd floor is fully improved; 7th floor is a shell with utilities
- 2nd & 7th floors available for sale separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,949
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,998,980
$2.0M
Cap Rate 7%
$1,427,843
$1.4M
Cap Rate 9%
$1,110,544
$1.1M
Market Conditions
NOI Build-Up for 7,524 SF
Gross rent
$162.5K $21.60/SF
− Vacancy
−$29.3K −$3.89/SF
EGI
$133.3K $17.71/SF
− OpEx
−$33.3K −$4.43/SF
NOI
$99.9K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,998,980
Cap Rate 7%
$1,427,843
Cap Rate 9%
$1,110,544
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $99,949 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,414 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - 2nd floor is fully improved and 7th floor is a shell with utilities in a landmark early-1920s building.
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 $1,495,000.
What are key features of this property?
This property features: Landmark early‑1920s Banque Lofts building originally designed by Henry Charles Trost; became an Albuquerque landmark in 1979; 2nd floor is fully improved; 7th floor is a shell with utilities; 2nd & 7th floors available for sale separately
