On the Market: 5 Interesting Listings for the Week of 10/23
This week's listings feature a massive mixed-use condo/commercial project near San Francisco's Ocean Beach and a value-add opportunity in Downtown Durham, N.C.'s Ninth Street district.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.
Lincoln Heights
Location:Â Albuquerque, N.M.
Rentable SF:Â 199,784
Total SF: 120,276Â
Units: 304
Year Built: 1975
Features:Â Well-maintained property with value-add opportunities; 63 of the units have been renovated and are leased at $125-$220 more than existing units; unit mix of studios, one- and two-bedroom floor plans; located in Far Northeast Heights submarket near Interstate 25; close proximity to employers like the Journal Center, Intel, Lovelace Health System, the University of New Mexico and more Downtown.Â
Contact:Â Cynthia Meister, Colliers, 505-880-7082
Station Nine
Location:Â Durham, N.C.
Units: 323
Rentable SF: 311,709
Avg. Unit Size:Â 965 SF
Acres: 5.6
Features:Â Value-add opportunity in Downtown Durham’s Ninth Street district, near the city’s CBD as well as Duke Medical Center; offers a combination of Class-A mid-rise construction along with value-add potential through upgrading units with finishes from 2004; structured parking; offered at discount to replacement cost and recent transactions in the area; institutionally-owned and well-maintained property.
Contact:Â Sean Wood, ARA Newmark, 919-590-4821
Arcadia Edge Apartments
Location:Â Phoenix, Ariz.Â
Offering Price: $4.3 million
Price/Unit: $189,130
Units: 23
Features: All units have two-bedroom floor plans; located in Arcadia-Lite neighborhood;Â unit amenities include covered parking, individual backyards, and washers and dryers in renovated units; community amenities include a courtyard, swimming pool and barbecue areas; located minutes from Phoenix Sky Harbor International Airport and close to Camelback Corridor, restaurants and major thoroughfares.
Contact: Royce Munroe, ABI Multifamily, 602-635-7431
Ocean Park Condo
Location:Â San Francisco, Calif.Â
Price: $77.9Â million
Units:Â 57
Building Size:Â 117,000 SF
Lot Size: 0.78 acres
Features:Â Under-construction mixed-use property with 56 residential condo units and 23,000 square feet of ground-floor retail or restaurant use; more than 100 on-site parking spaces underground; located one block from Ocean Beach and adjacent to MUNI’s Rail and Bus Lines.
Contact:Â Gil Marino, Century 21 Commercial, 650-208-2888
195 Powell St. S.E.Â
Location:Â Atlanta, Ga.Â
Price: $2.5 million
Building Size:Â 8,640 SF
Units: 12
Lot Size: 0.28 acres
Features:Â Recently renovated with new finishes; all units have two bedrooms, one bathroom and a balcony; unit features include quartz countertops, stainless steel appliances and stacked washer/dryers; all operating systems have been upgraded, including electrical, plumbing, kitchens, bathrooms and more; community amenities include coded controlled entry and off-street parking behind the property; located in Cabbagetown neighborhood.
Contact:Â Andy Lundsberg, Bull Realty Inc., 404-876-1640
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