Warehouse with Yard
For Sale
$499,000
2901 MCWILLIAMS Road, Aztec, NM 87410
Commercial Sale, Aztec, NM
Property Size5,000 SF
Lot Size3.13 Acres
Price / SF$99.80
Days on Market210
Property Features for 2901 MCWILLIAMS Road
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security Lighting
Subdivision
Raymond E Willerford
Directions
Head East on NM-516, turn left on to N. Light Plant Road / Old State Hwy-173, continue straight onto McWilliams
Standard status
Active
Size
5,000 SF
Lot size
3.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Tract 2 Raymond E Willerford Subdivision Bk. 1042 Pg. 315, Bk 1469 Page 1019
Tax Annual Amount
6786
Legal Description
Tract 2 Raymond E Willerford Subdivision Bk. 1042 Pg. 315, Bk 1469 Page 1019
Building Details
Floors in Building
1
Listing Agency:
RE/MAX of Farmington · RE/MAX International
(505) 327-4777
Listed By:
Sam Todd · License #46878
(505) 327-4777
Added: Feb 2
Changed: Aug 19
Last Checked: Aug 31 at 4:06PM
MLS# 26-141
Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,000-square-foot metal warehouse and shop occupies approximately 3.13 acres and is configured for a range of commercial and industrial operations. The improvements include multiple overhead doors, a wash bay, concrete slab flooring, two ADA-compliant restrooms, and varied ceiling heights. Electrical service includes 3-phase, 400-amp capacity.
The property combines paved parking with an expansive yard area that can accommodate equipment, trucks, stored materials, and vehicle circulation. City water, city sewer, electric, and gas are available. The configuration supports automotive, service, fabrication, storage, contractor, and light industrial applications.
The property combines paved parking with an expansive yard area that can accommodate equipment, trucks, stored materials, and vehicle circulation. City water, city sewer, electric, and gas are available. The configuration supports automotive, service, fabrication, storage, contractor, and light industrial applications.
Key Highlights
- 5,000 SF metal warehouse and shop on approximately 3.13 acres
- Multiple overhead doors, wash bay, and two ADA‑compliant restrooms
- 3‑phase, 400‑amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,268
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$745,360
$745.4K
Cap Rate 7%
$532,400
$532.4K
Cap Rate 9%
$414,089
$414.1K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.4K $9.48/SF
− Vacancy
−$3.6K −$0.71/SF
EGI
$43.8K $8.77/SF
− OpEx
−$6.6K −$1.32/SF
NOI
$37.3K $7.45/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$745,360
Cap Rate 7%
$532,400
Cap Rate 9%
$414,089
Alternative Uses
Best Use
Warehouse
$532.4K
$465.9K – $621.1K
NOI $37,268 @ 7.0% cap · market cap 7.47%
Second Best
Industrial
$438.4K
$383.6K – $511.5K
NOI $30,691 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.03M
$905.1K – $1.21M
NOI $72,405 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87410, NM
16,064
Population
6,402
Households
2.5
Avg Household Size
40
Median Age
17%
College-Educated
88%
High-School Grad
265.6 sq mi
ZIP Area
60
Density / Sq Mi
$51,283
Median Household Income
$31,436
Median Earnings
$802
Median Rent
$192,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Metal warehouse with overhead doors, a wash bay, paved parking, and utility service for industrial operations.
Where is this warehouse located?
The property is located at 2901 MCWILLIAMS Road Aztec, NM.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 5,000 SF metal warehouse and shop on approximately 3.13 acres; Multiple overhead doors, wash bay, and two ADA‑compliant restrooms; 3‑phase, 400‑amp electrical service
