Catylist ID:
#30388776
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: | 5/6/2022 |
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 |
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 |
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