A 10-story tower in Albuquerque’s Highland Business district, just north of Central Avenue, is set to go up for auction on June 6 with a starting bid price of $500,000. The former office tower is now zoned for 75-115 multifamily housing units and on-site parking and is being sold by Rhino Investments Group. Ten-X will handle the auction.
According to Albuquerque Business First, the building comes with eight residential floorplans ranging from 489 to 1,546 square feet that are ready for conversion from office space into apartment units – allowing the eventual buyer to begin remodeling based on these plans right away. Two Park Central Tower has a gross square footage listed at 101,000 square feet and was originally built in 1960 before being renovated in the 1990s.
