1398 Weimer RdTaos, NM 87571

Property Details for 1398 Weimer Rd

Lot size

2.15 AC

Property size (Sq ft)

18,036 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional two-story, 18,036 square foot medical office building in Taos, New Mexico, is situated directly across from Holy Cross Medical Center. The property boasts 100% occupancy with three tenants, including a major anchor tenant, Holy Cross Medical Center/Taos Health System, Inc., occupying approximately 67% of the space. The building features a strong weighted average lease term (WALT) of 3.8 years, with recent lease renewals extending through 2029 for the primary tenant and through 2028 for another. The property offers a 7.50% cap rate and a net operating income (NOI) of $337,426. Located on a 2.145-acre lot, it provides ample parking (7.15 spaces per 1,000 sq ft). The asking price is $4,500,000, or $249.50 per square foot. This stabilized investment opportunity benefits from NNN leases with annual rent bumps, a prime location in a thriving healthcare market, and a history of consistent, high occupancy (100% for over 15 years). The building serves a significant healthcare hub in north-central New Mexico and southern Colorado, with strong barriers to entry. This presents a compelling opportunity for investors seeking a stable, cash-flowing asset with minimal management responsibilities. The property's long-term tenants and strong location contribute to its exceptional investment potential.

Location Insight

City

Taos

County

Taos

State

New Mexico

Latitude

36.3677

Longitude

-105.578

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