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Midtown Mesa Multifamily Conversion 2020 Menaul Blvd NE 277 Room Hotel Albuquerque, NM 87107 For Sale
Investment Highlights
- Low-basis acquisition with scalable conversion plan and significant value creation potential
- Supported by UNM, healthcare systems, and Albuquerque’s growing tech and bioscience sectors
- 70 units already converted plus clear path to complete remaining units
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Midtown Mesa Multifamily Conversion, a 348-unit adaptive reuse opportunity located in Albuquerque, New Mexico. The property is currently a vacant hotel and presents a rare opportunity to reposition into multifamily housing, student housing, or assisted living, supported by existing infrastructure and favorable zoning for change of use. Investors can acquire the asset at a basis significantly below replacement cost and stabilized multifamily values, creating substantial upside through conversion and lease-up. Approximately 70 units have already been converted with kitchenettes, providing a head start on execution, while the remaining units offer a clear and scalable path to completion. Located near the University of New Mexico and supported by major employment drivers including healthcare systems, aerospace, and technology sectors, the asset benefits from strong long-term demand fundamentals. Midtown Mesa represents a compelling opportunity to capitalize on a proven conversion model within a supply-constrained and growing market.
Data Room Click Here to Access
Property Facts
| Sale Type | Investment | No. Rooms | 277 |
| Property Type | Hospitality | No. Stories | 4 |
| Property Subtype | Hotel | Year Built/Renovated | 1968/2020 |
| Building Class | B | Parking Ratio | 1.19/1,000 SF |
| Lot Size | 7.37 AC | Corridor | Interior |
| Building Size | 97,464 SF | Opportunity Zone |
Yes
|
| Zoning | C-3 | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 7.37 AC |
| Building Size | 97,464 SF |
| No. Rooms | 277 |
| No. Stories | 4 |
| Year Built/Renovated | 1968/2020 |
| Parking Ratio | 1.19/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C-3 |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Room Service
- Shuttle Service
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 18 | $119.00 | - |
| Guest Room | 259 | $104.00 | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 1-015-059-498225-4-09-05 | Improvements Assessment | $1,179,756 |
| Land Assessment | $634,293 | Total Assessment | $1,814,049 |
Property Taxes
Parcel Number
1-015-059-498225-4-09-05
Land Assessment
$634,293
Improvements Assessment
$1,179,756
Total Assessment
$1,814,049
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Midtown Mesa Multifamily Conversion | 2020 Menaul Blvd NE
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