For Sale
$1,595,000
3188 Southern BlvdRio Rancho, NM 87124
Multi-tenant office building, high ROI
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 123
Highlights
- Seller financing available with $595,000 down payment.
- Owner offering tenant improvement (TI) allowances for proposed Generative AI R&D flex space, potentially increasing monthly rent by $10,000+.
- Below-market lease rates on existing executive offices; seven of ten tenants are month-to-month, three are on annual leases.
- Significant rental upside potential: $12,000 to $20,000 monthly increase by adjusting rents to market rates.
- Pro forma cap rate of 8.52% to 12.35%; pro forma NOI of $135,914 to $196,914 (Note: Estimates based on potential added space and lease types).
Property Details for 3188 Southern Blvd
- Property type
- Specialty properties, Office properties
- Square Feet
- 8,060 SF
- Class
- B
- Year Built
- 2003
- Buildings
- 1
- Stories
- 1
- Lot Size (sq. ft)
- 40,075 SF
- Units
- 10
Location Insight
- City
- Rio Rancho
- County
- Sandoval
- State
- New Mexico
- Latitude
- 35.2415425
- Longitude
- -106.6745406
3188 Southern Blvd, Rio Rancho, New Mexico
Nearby Similar for Sale
FAQs
- What type of property is this?
- Specialty property - Multi-tenant office building, high ROI
- Where is the specialty property located?
- The property is located at 3188 Southern Blvd Rio Rancho, NM.
- What is the asking price?
- The asking price for this property is $1,595,000.
- What are key features of this property?
- This property features: Seller financing available with $595,000 down payment.; Owner offering tenant improvement (TI) allowances for proposed Generative AI R&D flex space, potentially increasing monthly rent by $10,000+.; Below-market lease rates on existing executive offices; seven of ten tenants are month-to-month, three are on annual leases.
- How can I contact the broker?
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