PREMIER OFFICE FOR SALE IN FARMINGTON

Office for Sale
Also listed as Special Purpose, Retail-Commercial
Catylist Listing ID: 30388776
Property Subtypes: Governmental, Institutional, Medical, Mixed Use, Office Building, Research & Development
Building Size (RSF): 15,698 SF
Gross Building Area: 16,524 SF
Gross Land Area: 1.20 Acres
Sale Price: $2,490,000
Unit Price: $158.62 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: The King Building
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/10/2021

Overview / Comments

This property also is available for lease.

Almost half of the building is under a long-term lease to the world’s largest integrated provider of products and services for individuals undergoing kidney dialysis.

Rent escalations begin early in the lease term.

Based on the current income stream and projected rental rates for the remaining spaces, a cap rate of 8.00% seems reasonable.

All connections have been installed in the building for water, gas, electricity, and sewer.

The entire building is insulated.

A storm drainage system and 8-inch sewer main is installed.

Additional Details

Nearest MSA: Farmington
County: San Juan
Tax ID/APN: R4008977
Zoning: C-1
Property Located Between: East 20th and East 21st Street near Intersection of Sullivan Avenue
Property Visibility: Excellent
Highway Access: Just north of Main Street with access to Highway 64 which in turn leads to US Highway 550 south to Albuquerque.
Airports: Four Corners Regional Airport
Site Description: Flat. Street access from two directions.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2018
Roof Type: Other
Construction/Siding: Stucco
Exterior Description: Modern. Large parking area with storm sewer drainage.
Parking Type: Surface
Parking Description: 68 parking spaces plus 2 ADA spaces.
Total Parking Spaces: 68
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Other
Air Conditioning: Other
Zoning Description: C-1
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,119 37,303 52,802
Median Age: 33.09 34.24 33.7
Households: 5,265 13,895 18,770

Contact

Photograph of Listing Agent

Ray Regan

R3/CRE CARNM CIE Member
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