From: Nob Hill News <nobhillnews@substack.com>
Date: Wed, May 28, 2025 at 4:45 AM
Subject: Vacancies in Nob Hill, NMDOT Aware of Bumpy Road, Dogs Continued and More
To: <lindsay.wood@abqnobhillnews.com>
Retail Vacancies Nag the Nob Hill Core, But Changes Expected‘This is the jewel of our city’; ‘there’s still a lot of appeal’ By Damon Scott
Nob Hill’s business core has a lingering number of high-profile vacancies, but the extent of the problem varies depending on who you ask about it. Nob Hill News recently conducted an informal inventory of Central Avenue-facing businesses between Girard Boulevard and Washington Street—a large part of the area’s main business district—and counted 143 total storefronts with 27 vacancies, about a 19% vacancy rate. For context, Albuquerque’s vacancy rate for all retail categories in the first quarter of 2025 was 7.1%, according to real estate firm Colliers International. Nob Hill’s 19% rate performs better, however, when compared to the city’s urban retail vacancy rate (which includes big box stores) of 27.75% in Q1.
Nevertheless, it’s hard to miss the vacancies and shuttered businesses—many that have been idle for years. Some of the more visible sites include the restaurant-retail complex that was home to O'Niell’s Pub near Washington; a largely empty string of office suites at 4118 Central Ave. SE; formerly busy restaurants like Poki Poki Cevicheria, Slice Parlor and Bistronomy B2B; the Master Cleaners space at 3207 Central Ave. NE and the Imbibe cigar bar/nightclub at Central and Richmond Drive; and closest to Girard, a large space at 3001 Central Ave. NE which is listed for lease. There are many more. “Ask any of the business owners and they’ll tell you ART (Albuquerque Rapid Transit) killed them,” Alfredo Barrenechea of Absolute Investment Realty, said. “It just killed the Route 66 vibe. We’re a car town; always have been. Until we densify, it’s more of a burden than a benefit.” Barrenechea, who has been a commercial broker for 20 years, works from Absolute’s offices at 131 Madison St. NE in East Nob Hill. The firm owns Nob Hill-area properties and has a high-profile listing in the core at 3413 Central Ave. NE, the 4,100-square-foot space that was formerly the home of Laru Ni Hati Salon. “I don’t think we’ve recovered from ART and I don’t think we’ve recovered from COVID,” Barrenechea said. “Then there is the homeless problem, which isn't nearly as bad in Nob Hill, but I think Central has a perception of being a scary place. Nob Hill has obviously been affected by that.”
Absolute shares a property line with Quirky Used Books — a business that’s been at odds with the city for allowing a homeless encampment in its parking lot. Absolute also manages properties in the neighboring International District, an area of the city where those living on the streets with substance abuse and mental health issues is most profound. “It’s very challenging; it sucks. There's no better way to say it. It's sad,” Barrenechea said. Change in progressBarrenechea isn’t totally glum about Nob Hill’s retail environment or its future. He notes that the Nob Hill Shopping Center was recently acquired by Heritage Cos., the minds behind a slew of successful ventures across the state. The company also purchased and renovated Nob Hill’s former Monte Vista Fire Station, now The Smoky Note lounge at Central and Bryn Mawr Drive.
Heritage’s increased Nob Hill footprint also caught local business owner Jessica Beecher’s eye. She described Heritage founder and CEO Jim Long as a “very savvy businessman.” “There's a lot more positivity going on than negativity,” Beecher said. “There's a lot of people that see the potential of Nob Hill; its unique characteristics and what it could be if we put even more attention and money and time into it.” Beecher is a residential and commercial broker and founder of RE/MAX Select and the owner (with husband Seth Beecher) of Nob Hill’s Mission Winery, Central Bodega and soon-to-open Lure oyster bar. While Beecher shares some of Barrenechea’s concerns, she said some vacancies don’t always tell the whole story. “There’s a vacant building that is basically being used for storage,” she said. “It seems like there's a lot of buildings where the owner has passed away, and now there's heirs involved, and they don't really know what they want to do.” Beecher said sometimes lawsuits associated with properties can hinder or delay a sale or lease, too. Other times, storefronts might look vacant, but work is underway and commercial brokers haven’t taken signs down. “There just seems to be a lot of weird and different things,” she said. The forthcoming Nob Hill project that has perhaps gotten the most buzz recently, is the $34 million Marriott Tribute hotel that is set to rise in the lot that was formerly the Hiway House Motel. The project will erase one of the biggest eyesores and vacancies in the core. “Investing that amount of money into Nob Hill is a very strong statement,” Beecher said. “There’s still a lot of appeal. I wouldn't hesitate to encourage somebody to open up a business down here.” “This is the jewel of our city; we’re trying every day,” added Barrenechea. “We’re still positive about the neighborhood; we’re heavily invested here.” NMDOT Aware of ‘Disintegration’ on Nearby Ramps
The I-25 frontage road and accompanying on- and off-ramps used most frequently by Nob Hill and UNM area residents—the stretch between Coal Ave. and Lomas Blvd.—can leave a driver feeling like James Bond’s martini: shaken. In response to a Nob Hill News inquiry on the subject, NMDOT spokesperson Kimberly Gallegos said that the maintenance engineer made a recent site visit and confirmed that the area is “showing some raveling (disintegration of the surface layer of asphalt pavement).” Gallegos also confirmed that crews would be put to work on this stretch of road once “funding becomes available.” No estimate was given on when that might be. Part Two: Local Dogs (And Their People)Photos by Roland Penttila
In Other NewsAdopt-A-Stop community cleanup with ABQ RIDE - KRQE (Clean up Saturday on Central Ave. between Girard Blvd and Wyoming Blvd.) CorrectionYesterday’s edition about the murals along Constitution Avenue showed a typo in the email address. For information from the McDuffie-Twin Parks Neighborhood Association on that project, please email: mtpnassociation@gmail.com. Thank you for reading! Comments? Corrections? Contact us through our website. Or by emailing contact@abqnobhillnews.com. Nob Hill News is proud to cover nearly 20 independent neighborhood associations.
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