Investment Opportunity in Albuquerque’s Sawmill District: Industrial Property Listed at $4.8 Million

Historic Property for Sale

An industrial property located in Albuquerque’s revitalized Sawmill District is now on the market for $4.8 million. Spanning approximately 45,000 square feet, this site at 1501 12th NW offers a unique investment opportunity, particularly for those interested in the area’s growth potential.

Attractive Location and Features

Built in 1945, this property is strategically situated near key attractions, including the Sawmill Market and the Indian Pueblo Cultural Center. Its proximity to Interstate 40 enhances its appeal for businesses seeking accessibility and visibility in a bustling part of the city. Currently, a local brewery occupies 60% of the property, while the remaining 40% has been vacant for approximately a year following the exit of a cannabis grower.

Market Trends and Economic Incentives

Albuquerque’s industrial real estate market is adjusting, with a vacancy rate of 4.5%, the highest seen in five years. This shift is attributed to large-scale departures yet accompanied by strong leasing activity, suggesting a gradual rebalancing of the market. As noted by CBRE, the market is beginning to see new direct available space more consistently, which could bode well for potential buyers of this property.

One of the standout features of this property is its designation within a federally recognized Opportunity Zone. This designation can provide significant tax benefits for long-term investors, making the property even more attractive as it aligns with broader economic development goals in low-income areas.

Flexible Acquisition Options

According to commercial brokers Andrea Hankins and Alexis Pinter, the property owner is open to various acquisition strategies. Potential buyers can choose to occupy the space, invest, or lease back to the current tenant. This flexibility is designed to attract a wide range of businesses, including those in manufacturing or even sports training, given the property’s ample power capacity.

Community Impact and Future Prospects

Hankins emphasizes the role of such industrial spaces in enhancing the overall health of the city. “Industrial activity contributes not only to job creation but also significantly improves quality of life,” she stated. As the Sawmill District continues to evolve, the potential for new businesses to thrive in this environment remains promising.

This industrial property presents a compelling opportunity for local business owners and investors looking to capitalize on Albuquerque’s growing commercial landscape.