Freestanding Office Warehouse Clear
New
For Sale
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111 Lujan Rd, Los Lunas, NM 87031
Freestanding office-warehouse with clear span and two 9' x 10' grade level doors on 0.5 acres.
Property Size8,200 SF
Lot Size0.50 Acres
Price / SF$164.63
Days on Market7
Property Features for 111 Lujan Rd
General Information
Standard status
Active
Size
8,200 SF
Lot size
0.50 Acres
Property subtype
INDUSTRIAL
Additional Details
Cap Rate
6.77%
Drive-In Doors
2
Listing Agency:
SVN/Walt Arnold Commercial Brokerage Inc
(505) 385-4744
Listed By:
Paul E Cook · License ##13024
(505) 385-4744
Source:
Moodyscre
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 25 at 7:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN/Walt Arnold Commercial Brokerage Inc
Investment Insights
Based on property information with market context.
This freestanding office/warehouse property offers 8,200 square feet of clear-span space plus an office component, designed for straightforward operations and flexible interior use. The building includes two grade level doors measuring 9' x 10', supporting practical loading and receiving.
The property is located at 111 Lujan Rd, Los Lunas, NM 87031, sitting on 0.5 acres. It is currently occupied by a family-owned, established cannabis grow and dispensary owner/operator with more than 20 years in the business. According to the public remarks, the tenant has 4 years remaining on the term with annual increases, and the rent is stated as being at sustainable market rate.
The seller’s remarks also cite a 6.77% cap rate for 2024 and a 7.85% blended cap rate.
The property is located at 111 Lujan Rd, Los Lunas, NM 87031, sitting on 0.5 acres. It is currently occupied by a family-owned, established cannabis grow and dispensary owner/operator with more than 20 years in the business. According to the public remarks, the tenant has 4 years remaining on the term with annual increases, and the rent is stated as being at sustainable market rate.
The seller’s remarks also cite a 6.77% cap rate for 2024 and a 7.85% blended cap rate.
Key Highlights
- Freestanding office‑warehouse in Los Lunas with 8,200 SF building on 0.5 acres.
- Clear span building layout.
- Two 9' x 10' grade level doors.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.1k | $14.40 |
| − Vacancy | −$7.1k | −$0.86 |
| EGI | $111.0k | $13.54 |
| − OpEx | −$38.8k | −$4.74 |
| NOI | $72.1k | $8.80 |
8,200 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.03M
$901.8K – $1.20M
NOI $72,147 @ 7.0% cap · market cap 5.34%
Second Best
Warehouse
$798.8K
$698.9K – $931.9K
NOI $55,913 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,690 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 87031, NM
45,208
Population
16,917
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
255.5 sq mi
ZIP Area
177
Density / Sq Mi
$61,947
Median Household Income
$34,167
Median Earnings
$1,083
Median Rent
$206,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding office-warehouse with clear span and two 9' x 10' grade level doors on 0.5 acres.
Where is this flex space located?
The property is located at 111 Lujan Rd Los Lunas, NM.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Freestanding office‑warehouse in Los Lunas with 8,200 SF building on 0.5 acres.; Clear span building layout.; Two 9' x 10' grade level doors.
