STNL State of New Mexico Office Building | Government Backed Lease

Office for Sale
Catylist Listing ID: 30217470
Property Subtypes: Governmental, Net Leased, Office Building
Building Size (RSF): 31,061 SF
Gross Building Area: See Agent
Gross Land Area: 2.65 Acres
Sale Price: $3,591,000
Unit Price: $115.61 PSF
Property Use Type: Net Leased Investment (NNN)
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 5/15/2018

Overview / Comments

The subject property is a 31,061-square foot Class B office building for the Office of the State Engineer for the State of New Mexico located in Albuquerque, NM. The building was a 2009 build-to-suit construction that features 148 parking spaces. The State of New Mexico signed a gross lease featuring attractive annual increases throughout the initial term and two (2) 5-year renewal options. The Office of the State Engineer is charged with administering the state's water resources. The State Engineer has authority over the supervision, measurement, appropriation, and distribution of all surface and groundwater in New Mexico.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North I-25
Tax ID/APN: ABQ34235

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,708 106,346 268,465
Median Age: 43.83 39.61 40.41
Households: 4,023 45,980 118,873


Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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