111 University SE Blvd - 100 Unit redevelopment Specialty Building Offered at $137,814 CAD in Albuquerque, NM 87106

On behalf of the owners, Maestas Real Estate Services and NM Apartment Advisors are excited to bring to market this amazing, once in a generational opportunity to redevelop a site that is A+ location.
Start price is $100,000 and the backdoor approach to land value indicates a value closer to $1,371,367.
Church
The property consists of 12,991 square feet of improvements that once were a house of worship. The property sits on 0.8206 acres of R-MH zoned land.
Day Care
The State of NM is one of the first to offer Universal Child Care in the passage of senate bill 241, signed by Governor Lujan-Grisham in March of 2026. This has opened the flood dates for day care providers to find new facilities and meet the anticipated demand of over 44,000 children. It also paves the way for as much $700 million in funding between 2026 to 2031.
With a starting price of $7.70 per improved sf, there is a long runway to make this deal pencil out as a church, day care, or church-day care combination.
Is the highest and best use a new housing community?
The City of Albuquerque needs an additional 24,000 units and the redevelopment of this site into 100 Unit could fill part of that needs. The site redevelopment with trifecta of high walk (82), bike (91) and transit (46) scores. The University has announced a new medical campus just a few blocks north of the subject site. Note that the IDO allows a higher density and the potential for more units if a developer wanted to build taller than 4 stories.
Did we mention it is also in a QCT, OZ and MRA area? Yes, it is true, amazing benefits flow to developers who can take advantage of the federal benefits of being located on a qualified census tract and/or opportunity zone. Local funding is available to developers as the property is located in the Sycamore Metropolitan Redevelopment area.

21-page flyer is available for review at http://www.nmapartment.com/apt/NMAA-Univ111SE.pdf
The property has current Phase I environmental report, Surveys, Site plan, info on vacated alley, floorplans, renderings, and sophisticated development (spreadsheet) model, comparable sales, etc. are available to buyers who complete the online confidentially agreement at http://www.nmapartment.com/univer111se
Timeline of events for the BID process:
1. Qualified buyers can register for the tour on Wednesday, June 17th, 2026, at noon at http://www.nmapartment.com/univer111se
2. The offer deadline is Noon on Thursday, June 18th, 2026. Offers received prior to that date with an expiration prior to Monday, June 22nd at 5pm, will not receive a response. Please do not ask what it would take to take the property off the market as the owner is dedicated to using the BID process and letting the market interest determine the final price.
The vacant lot offers an opportunity for an owner occupant to build their dream home, or for an investor to provide new rental housing – either of which will help the greater Albuquerque Area solve its housing shortage of over 49,257 new housing units needed from all of the new Amazon, Facebook, Intel and Netflix jobs.
Do not miss out on this amazing opportunity!
Thanks,
Anita Maestas
Qualifying Broker & Owner
Maestas Real Estate Services, Inc.
505-463-3565
anita@maestasrealty.com
And
Todd Clarke CCIM CIPS
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
tclarke@nmapartment.com