Large Tract in Nob Hill

Highlights:

• Largest available lot for development in Nob Hill
• Property undergoing replat
• Size: 0.41 Acres (Post Replat)
• Zoning: MX-L
• Existing Buildings: 4,500 SF
• Current Plan shows Potential for 20 TownHomes on site
• Existing buildings require tenant improvements, capital improvements (HVAC, electrical, roofing, etc.) but are in relatively good condition.
• Existing buildings can be leased at $14.00 PSF (Modified Gross). Improvements negotiable.

Description:

PROPERTY OVERVIEW
The site serves as a landmark gateway to one of Albuquerque’s most renowned and dynamic neighborhoods. As traffic continues to increase on the Lead/Coal thoroughfare, and demand for Multi-Family property remains extremely high in the Albuquerque MSA, and Nob Hill alike, this site is perfectly located and zoned for high density housing. There are currently 3 Buildings comprised of roughly 4,500 SF sitting on the entire site. The site is comprised of 5 independent plats, current owner is currently undergoing a replat to combine all sites, and city to vacate their existing alley/easement. Property will require some infrastructure improvements such as demolition and moving of existing gas line. Upon replat, this will be one of the largest pieces of available land to develop in the Nob Hill Submarket.

LOCATION OVERVIEW
4204 Lead is located on the Eastern side of Nob Hill, on of Albuquerque’s most distinct Culture districts. The property is within walking distance to the diverse array of boutiques, art galleries, trendy cafes, and restaurants that define Nob Hill’s unique character. Located less than ¼ a mile away you will find Platinum Luxury Apartments & Broadstone Nob Hill, two large apartment communities that have exceeded market rental averages year over year


SALE PRICE
$575,000
LEASE RATE
$14.00 PSF/ Modified Gross

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