Fully Leased Los Alamos Office Building

Office for Sale
Catylist Listing ID: 28287834
Property Subtypes: Governmental, High-Tech, Office Building
Building Size (RSF): 9,754 SF
Gross Land Area: 0.35 Acres
Sale Price: $1,809,048
Unit Price: $185.47 PSF
Property Use Type: Investment, Business
Building Name: 820 Trinity
Class of Space: Class A
Usable Size (USF): 9,754 SF
Sale Terms: Cash to Seller
Cap Rate: 8.6%
Last Updated: 10/6/2017

Overview / Comments

Located in the epicenter of Los Alamos' vibrant commercial hub, this office building offers a one-of-a-kind investment opportunity. Los Alamos County is the 4th richest county in the United States with median household income exceeding $97,000 and an unemployment rate hovering at an enviable 3% level. Due to the fact the city is surrounded by national forest and other federally owned land, there are few opportunities for new commercial development, thus high-quality existing commercial sites tend to maintain extremely high occupancy rates. This entire building is leased by Los Alamos National Laboratory, the region's largest employer, and one of the super high-technology research centers in the United States. Since the surrounding topography of the city severely limits expansion of the existing commercial hub, new commercial sites nearly always come to being only through the destruction of older less viable commercial buildings. This commercial site is probably the most stable commercial rental market in the country. When available, vacant spaces command a high premium, and waiting lists are not uncommon. The area is growing rapidly due to the high quality of jobs available as well as the richness of recreational opportunity nearby added to the cultural possibilities offered by Albuquerque, Santa Fe, and Taos all of which are within easy driving distance.

Current Tenants

Tenant Business Name Los Alamos National Laboratory
Industry Type Professional/Scientific/Technical Services
Is Renting? Yes
Annual Revenue $174,109 (Annual)
SF of Space Occupied 9,000 SF
Current Rent $19 PSF (Annual)

Additional Details

Nearest MSA: Los Alamos
County: Los Alamos
Taxing Authority: Los Alamos County
Zoning: COMMERCIAL HEAVY
Market Type: Medium
Property Located Between: Just east of Wall Street between Trinity Dr, and Central Ave.
Side of Street: North
Road Type: Paved, Highway
Property Visibility: Excellent
Transportation: Bus, Highway, Airport, Taxi
Highway Access: Highway 502 accessing Los Alamos from the heavily travelled U.S. Highway 285 north of Santa Fe,502 becomes Trinity Drive at the city limits.
Airports: Albuquerque, Santa Fe, Los Alamos
Site Description: Building is located in the heart of the commercial and business district of Los Alamos.Commercial land for new development is almost non-existent which keeps rents high and vacancy rates very low.
Area Description: Los Alamos is nearly surrounded by national forest and is virtually contiguous to the fabled Valles Calderas, an 89,000+/- acre managed wildlife area which offers year-round recreational opportunities. Nearby is Pajarito ski area, Santa Fe ski basin, Pecos Wilderness and many other legendary natural New Mexico treats. The altitude of 7000+ feet provides tolerable dry heat in summer, always cool nights, and the strong possibility of White Christmases. City life is not far away as both Santa Fe and Albuquerque are within easy driving distance offering little theater, opera, orchestral events, zoos, galleries, the internationally known annual balloon fiesta, horse activities of every stripe, hiking, boating, fishing, camping, and simply learning to enjoy one of the least populated, but most physically diverse and gorgeous states in the union.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 4,877 SF
Year Built: 1978
Year Renovated: 2003
Roof Type: Flat
Construction/Siding: Other
Exterior Description: Stucco
Parking Type: Surface
Parking Description: paved and sufficient for the building size.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Interior Description: See Floor Plan
Zoning Description: most commercial/retail options
Lot Frontage: 138
Lot Depth: 112
Easements: Utilities
Land Ownership: fee simple
Legal Description: Lot 2B, as the same is shown on the Subdivision Plat of Lot 2A, Subdivision of Lot 2, Mari-Mac Village Subdivision, Los Alamos county, New Mexico, as filed for record as Document No. 81879 on the 27th day of May, 1988 in Plat Book 5, Page 84, as modified by that certain Lot Line Adjustment filed for record as Document 168110 on May 16, 2003 in plat Book 114, Page 306, both filed in the Office of the County Clerk of Los Alamos County, New Mexico.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,216 8,476 14,171
Median Age: 42.91 42.23 43.86
Households: 1,497 3,880 6,174

Contact

Photograph of Listing Agent

Raymond H. Seagers

ReMax Western Heritage
CARNM CIE Member
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