REAL ESTATE
Loyola’s property lists for sale, signaling end of iconic Albuquerque diner
The building, featured in ‘Breaking Bad’ and ‘Better Call Saul,’ hit the market in February
Albuquerque resident Tom Jaramillo has been eating at Loyola’s on Central Avenue for years.
He’s developed just one complaint: He wishes he could have it more often.
“They need to stay open more,” he said. “This restaurant is probably (in) the top 10 in Albuquerque.”
The classic diner, at 4500 Central SE, is also a frequent stop for regular William Kaiser.
“Several times a week — sometimes four days a week,” Kaiser said.
“He’s been coming in a long time,” said Sarah Cordova, the longtime owner of Loyola’s, as she patrolled the restaurant Tuesday.
“Not as long as you,” Kaiser said, prompting laughs from the two.
Cordova started the restaurant with her late mother, Loyola Baca, 36 years ago. Baca, who died in 2009, had run the business on Central Avenue for even longer, first launching it as a coffee shop at the De Anza Motor Lodge 43 years ago and expanding to the diner it is today in 1990.
But after decades cooking up New Mexican and American cuisine — including everything from a grilled cheese sandwich to huevos rancheros — and serving as a film site for hits like “Breaking Bad” and “Better Call Saul,” the restaurant property is up for sale.
Cordova, with the help of Alfredo Barrenechea of Absolute Investment Realty, listed the property for a little over $1 million in February, according to the Commercial Association of Realtors New Mexico website. No offers have yet been made.
Asked why she decided to list the property, Cordova said it was the reelection of Albuquerque Mayor Tim Keller.
“During the election, if Mayor Keller was going to win again, I told myself that I would sell because I knew — and I know — that he’s not going to change anything on Central,” Cordova said, referring to the large population of homeless people who frequent the area.
In a statement, a city spokesperson said Keller “understands the concerns raised by business owners and residents along Central and remains committed to improving safety, quality of life and economic vitality along the corridor.”
But Cordova, who is nearing retirement age, said the city’s efforts haven’t been enough. She said being assaulted by a homeless person while walking one of her customers to PAH! Hiland Plaza — an apartment complex for the deaf and blind about a minute away from the restaurant — last year, and Keller’s reelection, were ultimately what pushed her to sell.
“Some people might get pissed off, but it’s true,” Cordova said. “We’ve been through the drugs, prostitution — we’ve been through all that. We survived a lot.”
It is solely the property for sale and not the business, Cordova noted.
She did offer the business to two longtime employees she said she trusted to keep the restaurant’s legacy going. But those employees did not end up taking the offer, so Cordova said Loyola’s name and recipes will come to an end when the property sells. The diner will remain open, business as usual, until then.
“My mom worked too hard to keep her name and keep her legacy, and I don’t want somebody else to come in and destroy it,” Cordova said.
The property, which Cordova said is 75 years old, spans 3,861 square feet, comes with 29 parking spaces and sees more than 17,000 vehicles pass by per day, according to Absolute Investment Realty’s listing. The listing touts the availability as “a turnkey opportunity for an owner-operator or investor” looking to acquire “a beloved, well-established destination known by locals and visitors alike.”
Regulars eating lunch at the diner on Tuesday expressed sadness when told about the property’s listing, saying they hoped the historic property would go to someone who cares about the community as much as Cordova has.
“I hate to see it go,” said longtime customer Ed Tanuz. “It’s a place where we all hung out for many years.”
For Cordova, keeping customers happy and maintaining her mother’s legacy was the most rewarding part of the venture.
“Loyola’s has meant the world to me,” she said.
Kylie Garcia covers retail and real estate for the Journal. You can reach her at kgarcia@abqjournal.com.