410 Central Ave Albuquerque, NM 87102

Property Details for 410 Central Ave

Year built

1915

Lot size

0.24 lot acres

Property size

53,000 SF

Property type

Commercial real estate

Description

This exceptional 53,000 square foot apartment building, located at 410 Central Ave SW in Albuquerque, New Mexico, presents a compelling investment opportunity. Built in 1915, this four-story building boasts a prime location within the vibrant heart of Albuquerque's downtown area. The property sits on a 0.24-acre lot and is zoned MX-FB-UD, offering significant potential for future development or expansion. The building features three elevators – two passenger and one freight – ensuring convenient access for residents and tenants. Recent upgrades include a new sprinkler system, enhancing safety and security. The asking price is $1,855,000, translating to $35 per square foot. This property benefits from its proximity to a multitude of amenities, including the Alvarado Transportation Center, Albuquerque Rapid Transit, numerous breweries and entertainment venues, Siembra Leadership Charter School, the Albuquerque Convention Center, the "One Central" Entertainment District, and a variety of restaurants and a downtown grocery store. The high daytime population within a half-mile radius (26,336) underscores the strong demand and potential for rental income. This is a rare chance to acquire a well-situated, historic building with significant upside in a rapidly developing downtown Albuquerque location. The building's solid foundation and recent improvements make it an attractive investment for both owner-users and investors seeking strong returns in a thriving urban environment.