Leased Medical Office
For Sale
$925,000
111 & 127 Sandoval Rd, Los Lunas, NM 87031
Medical office building leased by Optum under a long-term lease, with parking across the street.
Property Size4,844 SF
Price / SF$190.96
Days on Market90
Property Features for 111 & 127 Sandoval Rd
General Information
Standard status
Active
Size
4,844 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Century 21 Champions
Listed By:
Nancy A Montoya · License #6751
(505) 480-2121
Source:
Thesouthwestlife
Added: Jul 29
Changed: Oct 25
Last Checked: Oct 24 at 9:35PM
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 Century 21 Champions
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Investment Insights
Based on property information with market context.
This leased medical office building at 111 Sandoval Rd SW, Los Lunas, NM 87031 is currently leased by Optum under a long-term lease agreement. The property has served as a hub for medical services for decades, supporting its established fit for medical practice use.
Access is convenient from I-25 via the Los Lunas exit. From there, travel east on Main Street, then turn right on Sandoval Road to the property on the right.
The building sits on a spacious lot and includes a large parking area across the street, helping accommodate patients and staff. With its medical-focused history and an in-place long-term tenant, the property is positioned for buyers and operators looking for an operationally straightforward medical office asset.
Access is convenient from I-25 via the Los Lunas exit. From there, travel east on Main Street, then turn right on Sandoval Road to the property on the right.
The building sits on a spacious lot and includes a large parking area across the street, helping accommodate patients and staff. With its medical-focused history and an in-place long-term tenant, the property is positioned for buyers and operators looking for an operationally straightforward medical office asset.
Key Highlights
- Leased by Optum under a long‑term lease agreement
- 2,903 SF medical office building
- Access from I‑25 via the Los Lunas exit to Main Street, then Sandoval Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,547
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,150,940
$1.2M
Cap Rate 7%
$822,100
$822.1K
Cap Rate 9%
$639,411
$639.4K
Market Conditions
NOI Build-Up for 4,844 SF
Gross rent
$95.9K $19.80/SF
− Vacancy
−$19.2K −$3.96/SF
EGI
$76.7K $15.84/SF
− OpEx
−$19.2K −$3.96/SF
NOI
$57.5K $11.88/SF
Area
Valencia County, NM
Vacancy
20.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,150,940
Cap Rate 7%
$822,100
Cap Rate 9%
$639,411
Alternative Uses
Best Use
Office B
$822.1K
$719.3K – $959.1K
NOI $57,547 @ 7.0% cap · market cap 6.22%
Second Best
Healthcare Medical
$695.0K
$608.2K – $810.9K
NOI $48,653 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$1.00M
$876.4K – $1.17M
NOI $70,114 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Well-served
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
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- Animal Hospital of Los Lunas — 419 Main St SW, Los Lunas, NM 87031
- LOS LUNAS ANIMAL CLINIC — 575 NM-314, Los Lunas, NM 87031
- Thompson III William DVM — 575 NM-314, Los Lunas, NM 87031
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building leased by Optum under a long-term lease, with parking across the street.
Where is this medical office space located?
The property is located at 111 & 127 Sandoval Rd Los Lunas, NM.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Leased by Optum under a long‑term lease agreement; 2,903 SF medical office building; Access from I‑25 via the Los Lunas exit to Main Street, then Sandoval Road
