Office Warehouse - Great Downtown Location

Industrial for Sale
Sale Pending
Catylist Listing ID: 30185879
Property Subtypes: Flex Space, Light Industrial, Office Showroom, Warehouse/Distribution
Status: Pending
Building Size (RSF): 17,800 SF
Gross Land Area: 30,000 SF
Sale Price: $1,175,000
Unit Price: $66.01 PSF
Ceiling: 18 ft.
Docks/Doors: 5 Docks
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/15/2018

Overview / Comments

Office warehouse at 814-816 1st Street NW for sale - great downtown location at the stop-lighted intersection of 1st Street and Lomas, with excellent visibility to 24,000 cars per day. The office warehouse comprises 17,800 Sq. Ft. overall, and 816 1st Street (10,000 Sq. Ft.) is leased to Sherwin-Williams Paint Company while 814 1st Street (7,800 Sq. Ft.) is presently vacant. So it is an excellent investment and owner/user opportunity. The property has a pro forma cap rate of 8.23%, 13.05% cash on cash return, and potential before tax IRR of 19.09%. There is 3-phase power in each unit, and five dock-high doors overall.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Taxing Authority: Bernalillo County
Tax ID/APN: 101405832913642203
Zoning: SU-3 - Special Center Zone
Number of Stories: 1
Year Built: 1950
Roof Type: Flat
Construction/Siding: Block, Brick
Parking Type: Surface
Column Spacing: All clear span
X-Phase: 3-phase
Heat Type: Natural Gas, Space Heaters
Air Conditioning: Evaporative Cooler
Lighting: Fluorescent
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,447 111,997 301,443
Median Age: 35.31 35.65 35.46
Households: 7,418 47,584 123,917

Contact

Photograph of Listing Agent

Bruce Golden

Berger Briggs RE - Insurance
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