517 1st St SW, Albuquerque, NM 87102

Listing office N.M. Apartments, Inc. t***@nmapartment.com Show Phone

Listing date Oct 13, 2024

Source Crexi

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Overview

Located in Albuquerque, New Mexico, the property at 517 1st St SW is a 0.488-acre land parcel zoned for Mixed Use High Intensity. Plans are in place for 124 multi-family units, featuring first-floor parking and a rooftop deck amenity. The property is located west of the under-construction $70 million Rail Trail, south of the Alvarado Transportation Hub, southwest of the ABQ Innovation district, northwest of the under-development NM Media Academy, and on the east side of the Central Business District. The property may qualify for financing from the NMFA Opportunity Enterprise Housing Development Fund.

Suggested Use

HVAC Service Dental Office Locksmith Home Appliance Store Grocery & Convenience Store Pet Grooming Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Clothing & Fashion Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Albuquerque

County

Sandoval

State

New Mexico

Longitude

-106.6492644

Latitude

35.0794034

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FAQs

What type of property is this?

Commercial land - 0.488 acre land parcel with multi-family development potential.

Where is this commercial land located?

The property is located at 517 1st St SW Albuquerque, NM.

What is the asking price?

The asking price for this property is $1,390,000.

What are key features of this property?

This property features: Significant Discount: Priced at $1,390,000, potentially almost 50% below comparable sales value.; Development Potential: Approved plans for 124 multi‑family units with first‑floor parking and a rooftop deck.; Prime Location: Situated near the Rail Trail, Alvarado Transportation Hub, ABQ Innovation District, NM Media Academy, and the Central Business District.