For Sale
$1,195,000

2330 Pierce StCarlsbad, NM 88220

High-yield medical office, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional 5,730 square foot medical office building, located at 2330 W Pierce St in Carlsbad, New Mexico, presents a compelling investment opportunity. The property boasts a strong net lease (NN) with a remaining lease term of approximately 4.6 years, expiring June 30, 2029. The current tenant, Familia Dental, a rapidly expanding dental service organization with over 40 locations nationwide, occupies the entire building. The asking price is $1,195,000, translating to a price per square foot of $208.55 and a compelling 7.24% capitalization rate based on a current Net Operating Income (NOI) of $86,580. The lease commenced July 1, 2013, and is a single-tenant, 16-year agreement. Significant tenant improvements specific to dental services are already in place, minimizing potential capital expenditures for a new owner. This property is situated in Eddy County, New Mexico, zip code 88220, offering a stable and attractive investment in a growing market. The building's location provides excellent accessibility and visibility. This is an ideal opportunity for investors seeking a stable, high-yield investment with a reputable, established tenant.

Highlights

  • 5,730 SF medical office building in Carlsbad, NM.
  • Strong net lease (NN) with 4.6 years remaining, expiring June 30, 2029.
  • Fully occupied by Familia Dental, a national dental service organization.
  • Asking price: $1,195,000 ($208.55/SF), 7.24% cap rate based on $86,580 NOI.
  • Significant tenant improvements already in place.

Property Details for 2330 Pierce St

Property type
Office properties, Medical offices
Square Feet
5,730 SF
Units
1

Location Insight

City
Carlsbad
County
Eddy
State
New Mexico
Latitude
32.440928
Longitude
-104.2557872
2330 Pierce St, Carlsbad, New Mexico

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2330 Pierce St
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