11.3 Acres of Mixed-Use Land for Sale in Española, New Mexico

As you may know, Northern New Mexico is in a housing crisis, thanks to all of the new job growth is in desperate need for more housing.

A recent study by the NM Mortgage Finance Authority indicates that New Mexico has a housing shortage of over 32,000 units.

This 11.33 acre site that could potentially support a low density townhouse style community with 66 units.

Located just down the street from the famous Parasol restaurant and in the heart of Espanola, NM this 11.33 acres site has been held in the family for generations and is now available for development to meet the growing demand for all of the new jobs entering the market.

The property is located in one corner of the Los Alamos/ Espanola / Santa Fe employment triangle which contains 217,008 people with a median age of 45 and an average household income of $101,364.

This offering is available at $1,100,000 or $16,667 per unit. Projected rents are $1,825 per unit or $2.61/sf.