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    Graceland Dr Albuquerque, NM 87108

    Sponsored
    For Sale
    $275,000

    0.29-acre lot, prime Albuquerque location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This 0.29-acre commercial and residential land parcel in Albuquerque, New Mexico, presents a unique multifamily development opportunity. Located on Graceland Dr SE, in the desirable Nob Hill Corridor, this property is zoned MX-T, allowing for the construction of up to three or four stories. The site's strategic location offers exceptional access, with two full-access points and proximity to all utilities. Its high walkability score is further enhanced by its surrounding retail services, making it an attractive location for residents. The property's potential is underscored by the low apartment vacancy rate in the area, indicating strong rental demand. Furthermore, its proximity to major institutions like the University of New Mexico (within one mile) and Sandia National Labs and Kirtland AFB (within ten minutes) ensures a robust potential tenant pool. The site's size is ideal for a development of at least four four-plex units or a townhome concept, capitalizing on the area's thriving real estate market. The asking price for this exceptional development opportunity is $275,000. The property is situated in Bernalillo County, New Mexico, with the zip code 87108. Coordinates are 35.0779368 latitude and -106.5965335 longitude.

    Property Features for 0 Graceland Dr

    General Information

    Property type
    Land
    Lot Size
    12,632 SF

    HighLights

    • $275,000 asking price.
    • 0.29‑acre land parcel.
    • MX‑T zoning permits multifamily development.
    • Potential for fourplexes or townhomes.
    • Located in Albuquerque, NM, near UNM, Sandia Labs, and Kirtland AFB.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.5965335
    Latitude
    35.0779368

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    FAQs

    What type of property is this?
    Land - 0.29-acre lot, prime Albuquerque location.
    Where is this land located?
    The property is located at Graceland Dr Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: $275,000 asking price.; 0.29-acre land parcel.; MX-T zoning permits multifamily development.
    Request Owner's contact information
    Graceland Dr Albuquerque, NM 87108
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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
    Graceland Dr Albuquerque, NM 87108
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