22 Acre Apartment Site next to Walmart

Acreage

22 acres

Building Size

980,000 SF

Zoning

Multi-Family, Commercial, M-1 Light Industrial

This 22.5-acre M-1 zoned site in Alamogordo, New Mexico, sits directly adjacent to the Walmart Supercenter at the intersection of First Street and Florida Avenue, offering immediate access to primary commercial infrastructure and arterial routes connecting to Holloman Air Force Base. The property comprises four contiguous parcels at 200-500 South Florida Avenue, bisected by a 2.9-acre drainage easement that provides natural stormwater management while allowing non-structural uses including parking, utilities, and landscaping. Bridges can span the drainage corridor to unify site circulation. Alamogordo serves as the civilian anchor for Holloman Air Force Base, a critical installation supporting expanding F-16 and unmanned aircraft missions across 4 million acres of restricted airspace at White Sands Missile Range. Base personnel housing demand currently exceeds 900 units, creating sustained occupancy pressure in the local market. The site's M-1 light industrial zoning permits multi-family development at a density of one unit per 2,000 square feet, supporting approximately 450 units on the full parcel. The property is available for $5 million or via long-term unsubordinated ground lease at $0.04 per square foot per month. First Street provides direct connectivity to the Alamogordo Relief Route and base access, while South White Sands Boulevard to the west concentrates over 25 national restaurant tenants within immediate proximity.