近距离内射合集

REAL ESTATE

Land up for sale near Old Town, listing touts redevelopment opportunity

Property is currently home to a historic US Post Office

A U.S. Post Office at聽2016 Central SW in Albuquerque near Old Town on Wednesday. The property, which includes a nearby vacant building and undeveloped residential lots, is on the market.
Published

A property near Old Town is up for grabs after more than 50 years under the same ownership.

It includes three parcels spanning a little more than 1 acre off Central Avenue, just a couple of buildings away from the Central Grill and Coffee House and three minutes south of the Old Town Plaza.

Keith Bandoni, senior vice president and principal with real estate company Colliers, brought the property to market for $875,000 in late August, according to a Commercial Association of Realtors New Mexico .

鈥淚t鈥檚 walking distance to the Albuquerque Country Club in the neighborhood, so it鈥檚 very well located,鈥 Bandoni said. A downside to the property, he acknowledged, is an ART Bus Stop across the street, which he said is 鈥渁 hindrance鈥 to the property鈥檚 street access.

Following a death in the local family that owned the property, Bandoni is working with a trust company to sell it. Bernalillo County Assessor records indicate the property is under a trust for Paul Marianetti, an Albuquerque resident who died in 2021, according to an .

Before his death, Marianetti had worked for the University of New Mexico, the city of Albuquerque and his family business, Marianetti Properties. He and his wife, Patti, once donated a building to serve as the headquarters for the Albuquerque Foundation, the obituary says.

The family鈥檚 Central Avenue listing opens the door to something new at the property, which features two undeveloped lots off of Alahambra Avenue, a vacant building formerly occupied by a jewelry store and pawn shop, and an operational U.S. Postal Service office.

The listing touts 鈥渞edevelopment opportunity鈥 as a draw for potential buyers. The property鈥檚 two undeveloped lots are zoned residential, and the lot with the vacant building and Post Office is zoned for mixed use. Bandoni said a redevelopment project with residential and retail components would make sense for the site.

With the Post Office鈥檚 lease ending in 2028, Bandoni also said a buyer could either integrate the office into its plans for the site or use the office鈥檚 rent as a stream of income while trying to get redevelopment plans approved.

鈥淚 think it鈥檚 going to be dependent upon who purchases the property,鈥 Bandoni said. 鈥(The Post Office has) also been there for 50-plus years, and my guess is that they would probably like to stay, but at this point, that is all to be negotiated.鈥

The property has received 鈥渟ignificant interest鈥 since listing, Bandoni said. The ideal buyer, he added, is someone local who is familiar with the city and local redevelopment approval processes.

鈥淚t鈥檚 a prime piece of property in an area that is showing signs of redevelopment and 鈥 is having to be sold for unfortunate reasons,鈥 Bandoni said, summing up the listing as an 鈥渙pportunity for someone to come along and make it better.鈥

Kylie Garcia covers retail and real estate for the Journal. You can reach her at kgarcia@abqjournal.com.