1600 32Nd StSilver City, NM 88061

Property Details for 1600 32Nd St

Year built

1985

Construction

FRAME

Lot size

1.36 AC

Property size (Sq ft)

11,282 SF

Property type

Office properties

Property subtype

Office buildings

APN

3-080-101-150-515

APU

3080101150515

Description

Exceptional investment opportunity in Silver City, New Mexico's medical district. This property, situated at the corner of Highway 15 and 32nd Street, is a well-established medical clinic/urgent care center serving Silver City and the surrounding communities. Built in 1985, the main building boasts over 25 rooms and 9 bathrooms, providing ample space for various medical uses. The property includes extensive parking with 12 covered spaces, 35 open spaces, and ADA-designated parking. A significant advantage is the 95 kW photovoltaic inter-tie grid solar system installed in 2017, contributing to energy efficiency and cost savings. In addition to the main building, there's a 2,000 square foot auxiliary building currently used as an IT/training/meeting facility, and a separate 1,200 square foot metal storage unit. The property benefits from a triple net lease with the current tenant, expiring December 31, 2033. The tenant is responsible for all taxes, insurance, and non-structural repairs. The net operating income (NOI) for 2024 is projected at $307,920, with a 2.5% annual rent escalation clause, leading to a projected NOI of $384,550 by 2033. This property presents a strong and stable income stream with significant long-term growth potential. Asking price is $4,105,600.

• CAP approach

  CAP return

  Valuation

  6%

  $1,117,866

  6.5%

  $1,031,876

  7%

  $958,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,877,325

  Geo Method

  $1,877,325

• Alternative Use

  Use

  Valuation

  Residential

  $1,279,526

  Hospitality

  $1,172,039

  Educational

  $975,123

  Medical

  $1,008,659

  Retail

  $1,516,858

Location Insight

City

Silver City

County

Grant

State

New Mexico

Latitude

32.7944

Longitude

-108.257

CBSA code

43500

CBSA name

SILVER CITY, NM MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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