Commercial Real Estate in New Mexico available for sale
Life Science Properties For Sale

Life Science Properties for Sale in New Mexico, USA

More details for 950 4th St NW, Albuquerque, NM - Multifamily for Sale

Anthea @ The Granite + Ground Floor Value-Add - 950 4th St NW

Albuquerque, NM 87102

  • Life Science
  • Multifamily for Sale
  • $6,159,285 CAD
  • 33,312 SF
  • Fitness Center
  • Conference Rooms

Albuquerque Multifamily for Sale - Downtown

Anthea @ The Granite 950 4th Street NW is a three-story property spanning approximately 33,312 square feet and comprised of 23 residential multifamily units. The property was built in 2014 and sits on a 0.9-acre lot zoned for mixed-use; it is subject to a 50-year ground lease with options to 70 years. Anthea features ADA-compliant elevators, a main lobby, and a manager's office. Common amenities include an exercise facility, a conference room, a business center, housekeeping, and a secure, fenced parking area. Floors two and three host the 23 one-, two-, and three-bedroom apartments. It could be delivered vacant, or existing occupants could stay for interim income. Each unit has a full kitchen, a washer, a dryer, stainless steel appliances, and an outside patio. Some units are fully furnished and have contemporary furniture.    Upside Opportunities  One of this asset's highest and best uses would be for organizations in specialized healthcare treatment, assisted living, alternative housing, veterans assistance, senior housing, and adjacent sectors. Anthea’s vacant ground floor has tremendous potential for a value-add improvement plan or renovation. The floor spans 7,950 square feet and could be used to add to the multifamily component with room for 11 additional units. The vacancy is also a great place to house a treatment center, lab space, commercial kitchen, office space, or common amenities that can aid residents Utilities have already been stubbed in for a commercial kitchen, large customer restrooms, and a layout for executive suites. The cost conversion of the property to conform to any organization’s target demographic is offset by the competitive asking price. Since 2019, multifamily properties in the Albuquerque market built after 2014 sold for an average price of over $218,000 per unit. Anthea @ The Granite is priced at $186,000 per unit for the 23 units and $85 per square foot for the vacant ground floor, well below today’s replacement cost, especially given the impact of high construction costs and interest rates.    Learn About the Location NOLO (North of Lomas) is the north downtown district of Albuquerque. It’s characterized by trendy breweries, boutiques, local services, and beloved restaurants. The district is a short walk from Downtown Albuquerque and Central Avenue, the city’s predominant commercial, cultural, and culinary corridor. Some of the destinations tenants can walk to in 15 minutes include Lowe’s Supermarket, several parks, over 20 restaurants, and Marble Brewery, the largest brewery in Albuquerque. Make a mark in Albuquerque with a multifaceted asset positioned in a popular area by acquiring Anthea @ The Granite today. Get in touch.

Contact:

Colliers New Mexico

Property Subtype:

Apartment

Date on Market:

2019-12-16
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United States Life Science Properties New Mexico

Life Science Properties For Sale

Life Science Properties

Life Science Buildings for Sale or Lease

Life science properties are a type of commercial property that is commonly used by biotech companies to house lab equipment and research. They are also seen in medical facilities, universities, and manufacturing. There are different types of life science buildings for sale or lease available so you can decide if this would be a good investment for your business.

Life Science Buildings For Sale Or Lease: What Are The Different Types?

Life science buildings are a major investment for any company, and they can be categorized into three different categories: office space, laboratory space, or manufacturing spaces.

  • Office spaces offer the most flexibility to companies who work on many different types of tasks because it has more room for expansion in the future.
  • Lab facilities provide hands-on experience with equipment that is often difficult to get outside of an academic setting, including clean rooms.
  • Manufacturing spaces hold machinery such as autoclaves, centrifuges and other lab equipment required for scientific research and drug or medical manufacturing.

Looking to lease a Life Science? View Life Science Properties for lease