11,500 Sq. Ft. Office Space Downtown

Office for Sale
Catylist Listing ID: 7888918
Property Subtypes: Office Building
Building Size (RSF): 11,504 SF
Gross Building Area: See Agent
Gross Land Area: 0.48 Acres
Sale Price: $926,000
Unit Price: $80.49 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 10/16/2017

Overview / Comments

A very economically priced income producing office building located on the northwest corner of Water Street and Las Cruces Avenue in the heart of the downtown district. The downtown area is currently undergoing an extensive revitalization which will create jobs and become a vibrant center for government, public events, arts, retail and housing. The facility offers great visibility, parking, conference rooms, open work areas, break rooms, storage, large executive offices and multiple points of entry. Facility offers surface parking, nearby on street parking and is in close proximity to numerous public parking lots. The facility is currently 100% utilized by the tenant, but is also divisible if ever applicable. Long term tenant has been in place in excess of 10+ years, tenant is currently on a month to month lease. A sound investment or great work environment for an end user in the heart of the thriving downtown district. 345 N Water Street is also available at $410,000. Please call Grady Oxford at 575-642-3893 for additional information.

Financials

Finance Data Year 2011
Real Estate Taxes - Annual($) $3,628 (Annual)
Tax Value Land $72,900
Tax Value Improvements $260,300
Assessed Value - Total($) $333,200 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $3,628 (Annual)
Tax Value Land $72,900
Tax Value Improvements $260,300
Assessed Value - Total($) $333,200 (Annual)

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Tax ID/APN: 02-05947
Zoning: CBD
Market Type: Medium
Side of Street: North
Road Type: Paved
Property Visibility: Good
Highway Access: Close proximity to Hwy 70, I-25 and I-10
Airports: El Paso International
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1953
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Adequate on site as well as street parking
Heat Source: Central
Air Conditioning: Evaporative Cooler, Other
Zoning Description: Central Business District allows for government facilities, retail, office, residential and other similar uses in the central business area of the City.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,365 80,020 115,795
Median Age: 36.22 33.18 35.05
Households: 6,183 31,860 46,137
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