Courtesy of NM Apartment Advisors, Inc.

The Broadway Market Building, located at 421 Broadway SE, was built in the early 20th century and originally served as both a neighborhood retail anchor for the Huning Highlands area and one of the city's first live work communities. It housed a classic neighborhood grocery for over 60 years along with many other local shops and an ever vibrant, always fully-occupied apartment community above. In over a hundred years the property has had just two owners. Based on the current average rents of $891 per month, and ask price $1,335,236, the property's measures of investment performance include a 8.45 GRM, 6.97% cap rate before reserves, before tax IRR of 18.0% and an after-tax IRR of 14.3%.