1610 San Pedro DrAlbuquerque, NM 87110

Property Details for 1610 San Pedro Dr

Year built

1957

Lot size

0.22 AC

Property size (Sq ft)

2,520 SF

Property type

Office properties

Property subtype

Office buildings

APN

1-018-058-274-216-4-25-14

APU

101805827421642514

Description

This exceptional mixed-use property, located at 1610 SAN PEDRO Drive NE in Albuquerque, NM, presents a lucrative investment opportunity. The 2,200 square foot building sits on a 0.22-acre lot and is zoned Mixed Use (MX-L), offering considerable flexibility for a variety of uses. The property comprises two distinct units. Unit A, approximately 1300 square feet, currently functions as office space, featuring three offices, two bathrooms, and a reception area. Its adaptable layout makes it suitable for retail use as well. Unit B, also approximately 1250 square feet, has previously served as a hair salon and pet grooming business, but its versatility allows for use as retail space, office space, or even residential conversion. This unit includes a downstairs bathroom, an upstairs bathroom with a shower, and convenient washer and dryer hookups. Currently, Unit B is occupied under a month-to-month lease agreement. Both units benefit from separate gas and electric utilities, providing efficient management and cost control. The property's prime location and flexible zoning make it an ideal investment for both seasoned and aspiring real estate investors seeking strong rental income and future appreciation potential. The asking price is $289,900.

• CAP approach

  CAP return

  Valuation

  6%

  $364,172

  6.5%

  $336,158

  7%

  $312,147

• Comparable approach

  Method

  Valuation

  Relative Method

  $217,140

  Geo Method

  $208,202

• Alternative Use

  Use

  Valuation

  Residential

  $416,836

  Hospitality

  $381,820

  Educational

  $317,670

  Medical

  $328,595

  Retail

  $494,153

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0931

Longitude

-106.577

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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