245 Woodward Rd Albuquerque, NM 87102
- Warehouses
- 14.32 lot acres
Current Use by Public Records
- Warehouses
Property Details for 245 Woodward Rd
- Year built
- 1966
- Lot size
- 14.32 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional heavy manufacturing facility, situated on a spacious 14.32-acre lot in Albuquerque, New Mexico, presents a compelling investment opportunity. The property encompasses eight buildings totaling 112,000 square feet of net rentable space, offering a diverse range of functional areas. These include a substantial 82,075 square foot warehouse, a 6,558 square foot office space, a 7,346 square foot paint booth, a 2,578 square foot sandblasting shed, and a 13,532 square foot shop area. The warehouse boasts a generous 35-foot maximum ceiling height, accommodating a variety of industrial needs. Built in 1966 and extensively renovated in 2023, the property features upgraded infrastructure, including new flooring, drainage, water lines, skylights, and studding and finishing in Warehouse 1, a new roof on the sandblasting shed, and an extensively remodeled office with an enhanced security camera system. The property benefits from heavy power (3-phase, 480-volt) and enjoys excellent access to I-25 and the Albuquerque International Airport. Zoned NR-LM, this HUBZone-qualified property offers significant potential for expansion due to its low coverage ratio (17.9%) and ample land. The asking price is $13,000,000 ($116.07/SF), and seller financing may be considered. Lease rate is $9.64/SF/YR NNN.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Bernalillo
- State
- New Mexico
- Longitude
- -106.651
- Latitude
- 35.0496
