950 4Th StAlbuquerque, NM 87102

Property Details for 950 4Th St

Year built

2015

Lot size

0.90 AC

Property size (Sq ft)

33,312 SF

Property type

Hotels

Property subtype

Motels

APN

1-014-058-239-229-3-53-12

APU

101405823922935312

Description

This iconic, three-story, 33,312 square foot mixed-use building in Albuquerque's NOLO district presents a compelling investment opportunity. Built in 2014, it sits on a 0.9-acre lot and is subject to a 50-year ground lease with options for an additional 20 years. The property boasts 23 units, currently at 87% occupancy, comprising a mix of one, two, and three-bedroom apartments, some furnished, featuring high-end finishes, full kitchens, washers/dryers, and balconies. Ample secured parking is available. The building includes an exercise center, conference room, business office, on-site laundry, and housekeeping facilities. The 8,000 square foot ground floor, currently vacant, offers significant potential for expansion. Options include adding 11 more residential units (totaling 34), developing executive suites, or establishing a full-service restaurant

• CAP approach

  CAP return

  Valuation

  6%

  $5,467,900

  6.5%

  $5,047,293

  7%

  $4,686,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,745,413

  Geo Method

  $6,467,758

• Alternative Use

  Use

  Valuation

  Residential

  $5,510,178

  Hospitality

  $5,047,293

  Educational

  $4,199,288

  Medical

  $4,343,708

  Retail

  $6,532,226

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0937

Longitude

-106.649

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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