4650 Butler AveFarmington, NM 87401

Property Details for 4650 Butler Ave

Year built

2002

Lot size

1.84 AC

Property size (Sq ft)

9,245 SF

Property type

Office properties

Property subtype

Other office properties

APN

2075174015279

APU

2075174015279

Description

This exceptional investment opportunity presents a single-tenant, fee-simple office building totaling 8,835 square feet, situated on a 1.85-acre lot in Farmington, New Mexico. The property boasts a strong 10-year remaining lease term (with a 15-year initial term commencing May 20, 2019, and expiring May 19, 2034) to the Social Security Administration, backed by a corporate guarantee. The building, constructed in 2002, is a single-story structure with ample parking (2.27 spaces per 1,000 sq ft). The current occupancy is 100%, achieving a Net Operating Income (NOI) of $203,317 and an attractive 8.83% capitalization rate. Rent increases annually based on the Consumer Price Index (CPI). The property's location at 4650 N Butler Ave, Farmington, NM 87401, offers strategic advantages, being less than two hours from two Native American reservations. The seller has completed necessary electrical and groundwork for potential future expansion on the sizable lot. This is a stabilized investment with a long-term, mission-critical tenant, providing significant financial stability and potential for future growth. The asking price is $2,300,000. The property's APN is 2075174015279.

• CAP approach

  CAP return

  Valuation

  6%

  $1,739,301

  6.5%

  $1,605,509

  7%

  $1,490,830

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,049,201

  Geo Method

  $763,822

• Alternative Use

  Use

  Valuation

  Residential

  $1,990,831

  Hospitality

  $1,823,590

  Educational

  $1,517,206

  Medical

  $1,569,385

  Retail

  $2,360,098

Location Insight

City

Farmington

County

San Juan

State

New Mexico

Latitude

36.7701

Longitude

-108.185

CBSA code

22140

CBSA name

FARMINGTON, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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