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Modern Mixed-Use Development in NOLO

950 4th St NW Albuquerque, NM 87102

950 4th St NW, Albuquerque, NM, 87102
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33,000 SF mixed-use property with apartments and commercial space.

Property Size33,312 SF
Price / SF$135.09
AddedDec 16, 2019
Days on Market2403
Last RefreshMay 19 at 10:16 pm

Property Features for 950 4th St NW

General Information

Standard status
Active
Size
33,312 SF
Property subtype
Mixed Use, Multifamily, Retail

Listing office Colliers - Albuquerque, New Mexico

Listing date Dec 16, 2019

Source Crexi

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, New Mexico


Investment Insights

Based on property information with market context.

Anthea @ The Granite is a 33,000 square foot mixed-use development located in Albuquerque’s NOLO district. Constructed in 2014, the property includes 23 one-, two-, and three-bedroom apartments, which can be converted to dorm-style living, and approximately 7,950 square feet of adaptable ground-floor commercial space. The residential units are currently 87% occupied and are available furnished or unfurnished. They feature full kitchens, in-unit washer/dryers, and balconies. The ground floor has dual entrances, a garage-style window opening to a patio, and visibility along 4th Street. The property has secure, fenced and gated parking, ADA-compliant elevators, an exercise facility, a business center/conference room or program space, on-site laundry, and optional housekeeping, a lobby, and a manager’s office. It is located in a prime Route 66 location with transit access and high visibility from 4th Street, within walking distance to restaurants, retail, and community amenities, and in close proximity to UNM Hospital, Lovelace, Presbyterian Behavioral Health, and VA outpatient clinics. The property's design allows for owner occupancy or tenant adaptation. It is suited for recovery, mental health, transitional, or supportive housing programs, structured sober living, transitional housing, or therapeutic residences. The ground floor is suitable for group meeting rooms, counseling offices, medical intake, or administrative use, with the option to add up to 11 additional units for a total of 34. It is also suitable for medical/behavioral health providers, re-entry programs, youth services, or veteran housing initiatives.

Key Highlights

  • Adaptable ground‑floor commercial space (±7,950 SF) ideal for various programs.
  • 23 residential units (one-, two-, and three‑bedroom), currently 87% occupied.
  • Prime Route 66 location with high visibility and transit access.

Local Financial Insights For Mixed Use

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 $719.5k $21.60
− Vacancy −$72.0k −$2.16
EGI $647.6k $19.44
− OpEx −$242.8k −$7.29
NOI $404.7k $12.15
33,312 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%

Alternative Uses

Best Use
Office B
$6.32M
$5.53M – $7.38M (±1% cap)
NOI $442,517 @ 7.0% cap · market cap 9.83%
Second Best
Healthcare Medical
$6.09M
$5.33M – $7.10M (±1% cap)
NOI $426,087 @ 7.0% cap · market cap 9.47%
Theoretical Best
Office A
$8.06M
$7.05M – $9.40M (±1% cap)
NOI $564,119 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Anthea @ the Granite Hotel & Motel Albuquerque Interpersonal Therapy ... Corporate Office HomeBase Apartment Complex

Suggested Use

Electrical Service Locksmith Pet Grooming Service (Bike/Boat/Book/etc) Store Garden Center Dental Office (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Mobile Phone Store (Bike/Boat/Book/etc) Store

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

FAQs

What type of property is this?
Mixed-use property - 33,000 SF mixed-use property with apartments and commercial space.
Where is this mixed-use property located?
The property is located at 950 4th St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Adaptable ground‑floor commercial space (±7,950 SF) ideal for various programs.; 23 residential units (one-, two-, and three‑bedroom), currently 87% occupied.; Prime Route 66 location with high visibility and transit access.
Contact an agent
(505) 228-8818 Call to check price and availability
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