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Modern Mixed-Use Development in NOLO
For Sale
$4,500,000

950 4th St NW, Albuquerque, NM 87102

33,000 SF mixed-use property with apartments and commercial space.

Property Size33,312 SF
Price / SF$135.09
Days on Market202

Property Features for 950 4th St NW

General Information

Standard status Active
Size 33,312 SF
Property subtype Retail
Zoning MX-M

Amenities

Water
Sewer

Building Details

Year Built 2014
Listing Agency: Colliers - NM
Listed By: Terrie Hertweck · License #13730
Source: Carnm.resimplifi
Added: Mar 26 Changed: Oct 13 Last Checked: Oct 12 at 4:37PM

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 - NM

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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$404,741
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,094,820 $8.1M
Cap Rate 7%
$5,782,014 $5.8M
Cap Rate 9%
$4,497,122 $4.5M
Market Conditions
NOI Build-Up for 33,312 SF
Gross rent
$719.5K $21.60/SF
− Vacancy
−$72.0K −$2.16/SF
EGI
$647.6K $19.44/SF
− OpEx
−$242.8K −$7.29/SF
NOI
$404.7K $12.15/SF
Area
Albuquerque, NM
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,094,820
Cap Rate 7%
$5,782,014
Cap Rate 9%
$4,497,122

Alternative Uses

Best Use
Mixed Use
$5.78M
$5.06M – $6.75M (±1% cap)
NOI $404,741 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$4.02M
$3.52M – $4.69M (±1% cap)
NOI $281,376 @ 7.0% cap · market cap 6.25%
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 authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

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

Suggested Use

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

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,605
Businesses Nearby

Demographics for 87102, NM

20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in West region

7% 2022
7.8% 2023
8.6% 2024
8.6% 2025
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Frequently Asked Questions

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.
More about this property
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