Albuquerque's historic State Fair / EXPO NM. Multi-use property close to the NM State fair grounds is being sold jointly with adjacent property 6406 Cochiti (0.17 acres) 1 Bedroom, 1 Bathroom. Zoned C-3, the properties are being sold as-is. Please contact listing broker for additional details. Do not disturb tenants
Please contact listing broker for additional details. Do not disturb tenants
Start price is 10.41% cap rate at 6720 Cochiti SE presents a rare opportunity to acquire a nine-unit multifamily property in immediate proximity to Albuquerque's historic State Fair / EXPO NM. The State of NM, has approved an initial $114M in funding for what could become a ''billion dollars'' per Governor Lujan Grisham. Although the area appears a bit rough now, the state has indicated they intend to redevelop the NM Fair grounds, located just north of this property with $200M of redevelopment that could include a stadium for NM United, as well housing retail and a complete mixed-use community. The subject property is located about 400 feet due south of the center of the current State Fair grounds. One date for tours (noon 7/21) and one date for offers 7/22.
** Priced to sell! Development site with 24-unit apartment plans. Conceptual plans have already been approved by the City of Albuquerque's Development Review Board and the Fire Marshal's Office. Owner financing is available--20 % down, 3-5-year term, plus additional options. Build-to-suit services (custom design and construction available at cost) can also be arranged.
Daria Derebera
Real Estate Broker in Albuquerque, NM
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