Espanola, NM Land Property For Sale

As you may know, Northern New Mexico is in a housing crisis, thanks to all of the new job growth is in desperate need for more housing.

A recent study by the NM Mortgage Finance Authority indicates that New Mexico has a housing shortage of over 32,000 units.

Knowing this, NM Apartment Advisors Inc. is excited to bring to market a 11.33 acre site that could potentially support a low density townhouse style community with 66 units.

Located just down the street from the famous Parasol restaurant and in the heart of Espanola, NM this 11.33 acres site has been held in the family for generations and is now available for development to meet the growing demand for all of the new jobs entering the market.

The property is located in one corner of the Los Alamos/ Espanola / Santa Fe employment triangle which contains 217,008 people with a median age of 45 and an average household income of $101,364.

This offering is available at $1,100,000 or $16,667 per unit. Projected rents are $1,825 per unit or $2.61/sf.

14 page flyer is available for review at http://www.nmapartment.com/apt/NMAA-LaJoyaLand.pdf

The current owners are glad to share conceptual site plans and development models to qualified developer/investors who complete the on-line confidentially agreement at http://www.nmapartment.com/lajoya

Help this community fulfill its needs and build to its potential by acquiring and developing this site!

Thanks,

Todd Clarke CCIM CIPS

CEO

NM Apartment Advisors Inc.

(505) 440-TODD

Espanola Southwest Corner of Riverside Drive and Lowdermilk Lane Zoned Commercial (B-2)

1 – 12+- Acres For Sale, Ground-Lease or Build-To-Suit Additional land can be added to the offering connecting the site to Fairview.

PROPOSED LOT SIZES

A1/A2 is available for Land-Sale, Ground-Lease or BTS $6.50 PSF for Sale 9.7+- Acres

B4 is offered as Absolute NNN Ground-Lease only $2.00 PSF PY

B1, B2 and B3 are available as Land-Sale, Ground-Lease or BTS B2 and B3 are offered at $18.00 to $20.00 PSF

This tract falls in line with Walmart, Lowe’s, Starbucks, PetSense, Chili’s, CVS with McDonalds, Del Taco, Denny’s, Walgreens and more right across Riverside Drive.

The NorthBridge Plaza site is arguably the best retail location north of Santa Fe up through the corridor to Colorado

Additional contiguous land can be added to the offering.

Builder ready lots. Double wide manufactured housing on permanent foundations okay. Underground utilities in the streets.

Started with 55-lots to sell-only 14 left as of 2/18/22. Priced from $35,000 to $55,000 each. Contact me for current availability.

From Riverside Drive & Fairview Lane, drive east to El Llano Road and go South approximately 1/4 mile to Pima Road on the east side of El Llano Road. Pima Road is the entry to the Vista Del Rio subdivision. Multiple lots for sale.

Some lots are in Rio Arriba County and some are in Santa Fe County. If a lot is in both, the county where most of the lot is collects property taxes.

36°00'07.8"N 106°02'24.6"W

Lease Rate:

Ground lease: See Broker

Retail lease: See Broker

Sale Price:

$12-$18/SF

Land:

±17.088 Acres

Benefits:

Strategically positioned in the main retail corridor of Española Valley.

Most vibrant location in Española

Full access and excellent visibility

Fundamental proven retail location for northern New Mexico

Excellent national co-tenancy:

Super Walmart

McDonalds

Chili’s

Freddy’s

Autozone

Wendy’s

Taco Bell