185 Unit Apartment or Assisted Living Building Site
Location is very convenient to Hotels/Motels and restaurants
Marketing description
401 Mercury Drive, Alamogordo, NM – the north side Mercury Drive just east of White Sands Blvd and the Desert Aire Hotel & Suites.
USES: Apartments (will support 185 apartment units, more with a city-approved variance), Church, Assisted Living or Nursing home, professional offices, office/warehouse.
SIZE: 8.6 acre Primary Tract plus 2.5 acre Secondary Tract. The Primary Tract is 8.6 acres (approximately 375,000 square feet in area) plus the Secondary Tract of 2.5 acre 108,000 square foot).
Primary Tract is C-1 Neighborhood Business, allowing multi-family use. Secondary Tract would need to be zoned to allow self-storage use.
Price includes a 2.5 acre nearby property, accessible by alley connecting both properties, which is included to allow the apartment developer to offer tenants on-site storage rooms – a tenant-amenity not available to Alamogordo apartment dwellers. On-site storage rooms plus a multitude of national restaurants within walking distance will bring more tenant-interest and provide a higher long-term occupancy rate for this apartment development.
This location would also be ideal for a nursing home or assisted-living complex, allowing visiting family members a convenient selection of near-by motels and restaurants.
Otero County Property Account Number: Property Accounts R018976 and R010265.
Investment highlights
Within walking distance of STARBUCKS! Only one-half block off White Sands Blvd (US Highway 54/70) at the south entrance of Alamogordo. A short walk to 14 national restaurants, a huge tenant convenience not available for existing apartments in Alamogordo. This is one of the few large tracts of land remaining near White Sands Boulevard, in the “Restaurant Row” area between the overpass and First Street. This building site will support 185 apartments. It is ideal for development as a large apartment complex due to its convenience to Holloman Air Force Base, the many restaurants on White Sands Boulevard and its proximity to Alamogordo’s number one destination: Walmart.
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