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    517 1St St Albuquerque, NM 87102

    Sponsored
    For Sale
    $1,750,000

    High-density, mixed-use land; 100-unit potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.488-acre commercial land parcel in Albuquerque's Central Business District (CBD) presents a unique investment opportunity. Located at 517 1st St SW, 87102, this property boasts a Mixed Use High Intensity zoning designation, allowing for the development of up to 100 multi-family units. Preliminary plans include first-floor parking and a rooftop deck amenity. The site's strategic location offers unparalleled access to key amenities and infrastructure. It sits directly west of the planned $70 million Rail Trail, south of the Alvarado Transportation Hub, southwest of the ABQ Innovation District, and northwest of the under-development NM Media Academy. The asking price is $1,750,000, translating to an estimated price per unit of $17,500 and a price per square foot of $82.33. Comparable sales suggest a potential value closer to $2,150,983. This property may qualify for financing through the NMFA Opportunity Enterprise Housing Development Fund, with applications open from September 4th to October 16th. The current housing shortage in Albuquerque, with a need for over 23,000 new rental units, makes this a compelling investment with significant potential for strong returns. The property's prime location and development potential make it an ideal opportunity for investors seeking to capitalize on Albuquerque's thriving real estate market. Latitude and longitude coordinates are 35.07920856252252, -106.64933060844989 respectively.

    Property Features for 517 1St St

    General Information

    Property type
    Land

    HighLights

    • $1,750,000 asking price for 0.488‑acre land parcel.
    • Located in Albuquerque, NM, at 517 1st St SW, in the Central Business District.
    • Mixed‑Use High‑Intensity zoning allows for approximately 100 multi‑family units.
    • Prime location near the planned $70M Rail Trail, Alvarado Transportation Hub, ABQ Innovation District, and NM Media Academy.
    • Potential for significant return on investment; comparable sales suggest a value closer to $2,150,983.
    Property Profile Location Intelligence

    Current Use by Public Records

    Aramark Uniform Services ... Uniform Store

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.64933060845
    Latitude
    35.079208562523

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    FAQs

    What type of property is this?
    Land - High-density, mixed-use land; 100-unit potential.
    Where is this land located?
    The property is located at 517 1St St Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: $1,750,000 asking price for 0.488-acre land parcel.; Located in Albuquerque, NM, at 517 1st St SW, in the Central Business District.; Mixed-Use High-Intensity zoning allows for approximately 100 multi-family units.
    (505) 440-8633
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    517 1St St Albuquerque, NM 87102
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