Office Building with Fenced
For Sale
$500,000
3200 N 1ST Street, Bloomfield, NM 87413
COMMERCIAL - Bloomfield, NM
Property Size3,131 SF
Lot Size2.50 Acres
Price / SF$159.69
Days on Market88
Property Features for 3200 N 1ST Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Directions
From Bloomfield, turn N. on 1st Street, property will be on your right.
Subdivision
Bloomfield
Standard status
Active
Size
3,131 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Description
Book 1633, Page 214
Legal Description
Book 1633, Page 214
Utilities
Cooling system
Central Air
Amenities
break room
conference room
Building Details
Floors in Building
1
Listing Agency:
Coldwell Banker Cornerstone · Coldwell Banker Real Estate
(505) 325-7788
Listed By:
Colin Marshall · License #49668
(505) 325-7788
Added: Jun 2
Changed: Aug 4
Last Checked: Aug 28 at 12:06AM
MLS# 26-640
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 office property encompasses 3,131 square feet on a 2.5-acre parcel. The interior includes dedicated office areas, a conference room, and a break room, with central air conditioning serving the building. A fenced yard provides secured outdoor space for equipment.
Located at 3200 N 1ST Street in Bloomfield, New Mexico, the property fronts a busy US highway and offers exposure along the corridor. The combination of office improvements and fenced yard area supports both administrative functions and equipment storage.
Located at 3200 N 1ST Street in Bloomfield, New Mexico, the property fronts a busy US highway and offers exposure along the corridor. The combination of office improvements and fenced yard area supports both administrative functions and equipment storage.
Key Highlights
- 3,131‑square‑foot office building on 2.5 acres
- Fenced yard for equipment
- Conference room and break room included
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
$27,954
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
5.59%
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%
$559,080
$559.1K
Cap Rate 7%
$399,343
$399.3K
Cap Rate 9%
$310,600
$310.6K
Market Conditions
NOI Build-Up for 3,131 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
$46.6K $14.88/SF
− Vacancy
−$9.3K −$2.98/SF
EGI
$37.3K $11.90/SF
− OpEx
−$9.3K −$2.98/SF
NOI
$28.0K $8.93/SF
Area
San Juan County, NM
Vacancy
20.00%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
25.00%
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%
$559,080
Cap Rate 7%
$399,343
Cap Rate 9%
$310,600
Alternative Uses
Best Use
Office B
$399.3K
$349.4K – $465.9K
NOI $27,954 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$647.7K
$566.8K – $755.7K
NOI $45,340 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 87413, NM
14,652
Population
5,764
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
83%
High-School Grad
600.8 sq mi
ZIP Area
24
Density / Sq Mi
$51,234
Median Household Income
$34,783
Median Earnings
$898
Median Rent
$176,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - The property includes central air, a conference room, and a fenced yard for equipment.
Where is this office building located?
The property is located at 3200 N 1ST Street Bloomfield, NM.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,131‑square‑foot office building on 2.5 acres; Fenced yard for equipment; Conference room and break room included
