Excellent Investment Opportunity In Corrales, NM

Withdrawn Office for Sale
Catylist Listing ID: 30090140
Property Subtypes: Executive Suites, Office Building
Building Size (RSF): 14,000 SF
Sale Price: $1,860,000
Unit Price: $132.86 PSF
Property Use Type: Investment
Building Name: Territorial Plaza
Class of Space: Class B
Usable Size (USF): 10,000 SF
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 100
Withdrawn On: 8/2/2017
Last Updated: 8/2/2017

Overview / Comments

Never vacant 14,000 square foot office building. Current owner has maintained 100% occupancy since 2011 by simply putting a "For Lease" sign out. Smartly broken down into 16 small and pragmatic suites for easy mix of professional uses. All suites are in exceptional condition with upgraded finishes / fixtures and custom touches throughout. Gorgeous common area features beautiful open lobby with great natural light, ADA Bathrooms with custom tile work (2 upstairs and 2 downstairs), a large common break room with a full kitchen (includes all appliances), outdoor patio spaces / sitting areas, an elevator, a large shared conference room, and a bonus upstairs sitting area with excellent views. Please Contact Chas Skinner (505-319-3199) or Kyle Deacon (505-803-3775).

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $12,478 (Annual)
Potential Rental Income $203,481 (Annual)
Net Operating Income $138,647 (Annual)
Gross Operating Income $203,481 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Sandoval
Submarket/Township: Rio Rancho
Tax ID/APN: 1016067024079
Zoning: C-1
Property Visibility: Excellent
Area Description: Excellent location near park, recreation center - Main Street exposure, walking distance to many great restaurants / shops etc.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 7,000 SF
Year Built: 2001
Roof Type: Flat
Construction/Siding: Steel Frame, Stucco
Exterior Description: Territorial style office building - stucco with white trim. large driveway and parking area - crusher fine base.
Parking Ratio: 4.7 (per 1000 SF)
Parking Type: Surface
Parking Description: Easy egress / ingress and plenty of parking with direct access to the building. Some store front parking for 1st floor offices on south side.
Total Parking Spaces: 47
Passenger Elevators: 1
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Well
Sewer Type: Septic

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,672 37,369 124,313
Median Age: 50.23 43.09 39.59
Households: 2,766 15,507 47,907

Contact

Photograph of Listing Agent

Kyle Deacon

Deacon Property Services
CARNM CIE Member
© Copyright Commercial Association of REALTORS┬« - New Mexico. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS┬« - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.