Graceland Dr Albuquerque, NM 87108
- Land
- 0.29 lot acres
Current Use by Public Records
- Land
Property Details for 0 Graceland Dr
- Lot size
- 0.29 lot acres
- Property type
- Land
Description
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.
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
- -106.597
- Latitude
- 35.0779
