3188 Southern BlvdRio Rancho, NM 87124

Property Details for 3188 Southern Blvd

Year built

2002

Lot size

0.91 AC

Property size (Sq ft)

8,159 SF

Property type

Office buildings

APN

1-012-068-499-345

APU

1012068499345

Description

This fully occupied, 8,060 square foot commercial building in Rio Rancho, NM, presents a compelling value-add investment opportunity. Located at 3188 Southern Blvd SE, this single-story, 2003-built property boasts 10 units with a mix of creative office, medical office, and data center spaces. Currently generating a NOI of $94,450 with a 5.92% cap rate, the property offers significant upside potential. The seller is offering financing with a $595,000 down payment. Tenants currently pay below-market rates, with seven on month-to-month leases and three on annual leases. A pro-forma NOI of $135,914 and a pro-forma cap rate of 8.52% are projected based on market rent adjustments and potential tenant improvements for additional Generative AI office or R&D flex space, which could add at least $10,000 in monthly rent. The 0.92-acre lot provides ample space, and the property features 11-18 foot ceilings and 5 parking spaces per 1,000 square feet. The property is situated on a busy corner lot with high visibility, near major banks and with easy access to major roadways, including Intel. This is an exceptional opportunity for investors seeking strong cash flow and significant appreciation potential. The property is zoned SU. Net rentable space totals 6,239 square feet. The asking price is $1,595,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,168,550

  6.5%

  $1,078,662

  7%

  $1,001,614

• Comparable approach

  Method

  Valuation

  Relative Method

  $694,812

  Geo Method

  $674,097

• Alternative Use

  Use

  Valuation

  Residential

  $1,337,540

  Hospitality

  $1,225,180

  Educational

  $1,019,335

  Medical

  $1,054,392

  Retail

  $1,585,632

Location Insight

City

Rio Rancho

County

Sandoval

State

New Mexico

Latitude

35.2412

Longitude

-106.674

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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