401 Central Avenue NE, Albuquerque, NM 87102
$700,000
Property Type:
Commercial Sale
Status:
Active
Current Price:
$700,000
List Date:
1/03/2024
Last Modified:
1/03/2024
Description
This ground-level commercial condominium is part of the City Market Lofts building constructed in 2004. Upstairs in this 3-story brick building are 10 residential condos. The building has been fully occupied for a decade, and has been managed by EDo Spaces. Current tenants are Nuve Salon (since 2020), Spaces (since 2009), and EDo Storage (since 2012). Tenants are responsible for their own electricity, janitorial, and all non-structural repairs to the space and its equipment, including glass damage. Owner pays condo dues (which include building insurance, water-sewer-trash-recycling, and common area maintenance) and property taxes.
More Information MLS# 1029900
Contract Information
Listing Price: 700000
Current Price: $700,000
Status: Active
Location
Street #: 401
Street Name: Central
St Suffix: Avenue
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87102
Zip +4: 3517
Directions: Located at the corner of Central and Arno, one block east of Broadway. From I-25 S, exit MLK/Central, right on Central, pass Edith, building is between Edith and Arno, metered parking in front.
Geo Lat: 35.083637
Geo Lon: -106.642986
Area: 80 - Downtown Area
Zone Atlas: K14
General Property Description
Property Sub-Type: Multi-Use
Apx Lot Dim Front: 142 feet
Apx Lot Dim Side: 49 feet
Lot Size Source: Plat
Flood Zone: X
Total # Stories: 3
Docks: No
Door Height: 83 inches
Disability Access: Yes
% Occupied: 100
Transaction Type: Sale
Tax & Legal Info
UPC Code: 101405742739313008aa
Short Legal Desc: UNIT #101 OF THE CONDOMINIUM PLAT CITY MARKET LOFTS CONDOMINIUM TRACT C-2A-1-A BANNER SQUARE ADDITION TOGETHER WITH A
GRT Code: 02-100
Current Taxes: 5600.08
Tax Exemption: No
Income & Expenses
Annual Oper Expenses: 25081
Annual Gross Income: 77700
Lease Term/Months: Vary
Miscellaneous
Land Ownership: Land Owned
Sales Info
Trade/Xch Considered: No
Property Features
Location: Downtown; Other - See Remarks; Downtown; Other - See Remarks
Construction: Brick
Exterior Material: Brick/Wainscoting
Utilities: Cable Not Available; Electricity Connected; Natural Gas Not Available; Phone Connected; Sewer Connected; Underground Utilities; Water Connected
Heating: 2+ Units; Heat/Cool Combo (G)
Cooling: Heat/Cooling Combination; Multi Units; Refrigerated
Lease Information: Assumable/Assignable; Other - See Remarks
Docs/Data Available: Existing Leases
Finance Considered: Cash; Conventional; Other - See Remarks
Zoning: PD*
Listing Office: EDO Spaces, LLC
Last Updated: January - 03 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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