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    219 Central Ave Albuquerque, NM 87102

    For Sale
    $1,300,000

    Historic Downtown Apartment Building

    Property size:
    8,082 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 8,082 square foot condominium, located on the 7th floor of the iconic Banque Lofts building at 219 Central Ave NW in Albuquerque, New Mexico, presents a unique investment opportunity. Originally constructed in 1921 and designed by the renowned Trost and Trost Architectural Firm, this landmark building boasts stunning architectural details including Palladian windows and intricate medallions and pilasters. The unit is part of a multifamily building, currently zoned MX-FB-UD, and offers an abundance of natural light. All utilities, heating, and cooling are included, with the building's system providing hot and cold water for unit fan coils. The building features an approximately 8,000 square foot rooftop deck with 360-degree city views and open-air balconies accessible to all tenants. Security is exceptional, with on-site security and key card access. Convenient access to a nearby parking garage is provided via an attached breezeway. This property is ideally situated in Albuquerque's vibrant downtown business district, directly off historic Route 66. While 25 apartments within the building are currently leased, along with occupied office and retail spaces, this offering is specifically for the 7th-floor condominium. The asking price is $1,300,000, translating to $160.85 per square foot. This is a rare chance to own a piece of Albuquerque history and a highly desirable multifamily asset in a prime location.

    Property Features for 219 Central Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    8,082 SF

    Building Details

    Year Built
    1921
    Buildings
    1
    Stories
    8

    HighLights

    • 7th‑floor condominium for sale.
    • Abundant natural light.
    • All utilities included.
    • Building provides hot and cold water to unit fan coils.
    • Highest and best use is multifamily.
    • Prime downtown Albuquerque location near historic Route 66.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Contract Associates, a division ... Office Furniture Store Duran and McDonald Attorney SWOP - Southwest Organic ... Herbal Medicine Store The Good Barber Barber Shop Legent® Security Services Security Guard Service

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Law Firm 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
    -106.6501768
    Latitude
    35.0847091

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    FAQs

    What type of property is this?
    Multifamily property - Historic Downtown Apartment Building
    Where is this multifamily property located?
    The property is located at 219 Central Ave Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 7th-floor condominium for sale.; Abundant natural light.; All utilities included.
    Request Owner's contact information
    219 Central Ave Albuquerque, NM 87102
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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
    219 Central Ave Albuquerque, NM 87102
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