First Baptist Church in Albuquerque Listed at $7.5M
- Oct 04, 2013
Located at the corner of Broadway Boulevard NE and Central Avenue, the First Baptist Church has sat vacant for several years. The property is now back on the market, listed by Keith Meyer and Jim Wible with NAI Maestas & Ward.
The church was built in the 1970s and entitles almost 87,000 square feet of building space and seven acres of land. Near the largest university in the state, the property is also sited next to the convention center. The listing price is $7.5 million.
The University of New Mexico is the latest group that is considering purchasing the property, after the City of Albuquerque and Albuquerque Public Schools attempted to acquire it in the past. They’re counting on a $1.5 million grant from the U.S. Economic Development Administration, currently pending.
UNM envisions creating the “Innovate ABQ” business incubator, a cheaper place for new small businesses to start. “There could be literally tens to hundreds of small businesses that get started in an incubator like this,” said Lisa Kuuttila, CEO and chief economic development officer of STC.UNM.
The Maestas brokers believe that “Innovate ABQ is a great thing and could be a great project,” one that would grow jobs and that has shown positive results in other communities. Moreover, both UNM’s president, Dr. Robert Frank, and the mayor are interested to see the project successful.
Photo courtesy of Google.