Two-Building Medical Office
For Sale
$925,000
111 & 127 Sandoval Road, Los Lunas, NM 87031
SINGLE_FAMILY - Los Lunas, NM
Property Size4,844 SF
Lot Size1.25 Acres
Price / SF$190.96
Days on Market636
Property Features for 111 & 127 Sandoval Road
General Information
Property type
Residential
Property subtype
Office
Zoning description
C-1
Parking
40
Parking features
Offsite
Security features
Security
Accessibility
Accessible Approach with Ramp
Directions
From I-25/Los Lunas exit, head east on Main Street, then right on Sandoval Road to property on the right.
Subdivision
700 - Los Lunas
Standard status
Active
APN
1009038200412000000
Lot size
1.25 Acres
Taxes and HOA fees
Tax Description
Subd: Sichler Addition Lot: East 25' of 5 & Lot 6Subd: Sichler Addition Lot: 7Subd: Land of Pete Sandoval Tract: 3 .22 ac (B-5-28) 1985 RevSubd: Land of Pete Sandoval Tract: 4a .22 ac (B-5-28) 2005 Rev
Tax Annual Amount
10656
Legal Description
Subd: Sichler Addition Lot: East 25' of 5 & Lot 6Subd: Sichler Addition Lot: 7Subd: Land of Pete Sandoval Tract: 3 .22 ac (B-5-28) 1985 RevSubd: Land of Pete Sandoval Tract: 4a .22 ac (B-5-28) 2005 Rev
Utilities
Heating system
Natural Gas
Building Details
Floors in Building
1
Building materials
Block, Stucco
Listing Agency:
Century 21 Champions · Century 21 Real Estate
(505) 865-3381
Listed By:
Nancy A Montoya · License #6751
(505) 480-2121
Added: Nov 15, 2024
Changed: Aug 1
Last Checked: Aug 13 at 10:06AM
MLS# 1074035
Copyright © 2026 Southwest MLS. 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 two-building medical office property totals 4,844 square feet and is currently leased by Optum under a long-term agreement. The buildings have been used as a hub for medical services for decades, supporting a medical-practice setup and continuity of use.
The property sits on a 1.25-acre lot and features block and stucco construction with natural gas heating. Accessibility is supported by an accessible approach with a ramp. Offsite parking is available, and the property also includes a large parking area across the street, bringing total parking to over 40 spaces.
Located at 111 & 127 Sandoval Road in Los Lunas, NM, the configuration supports patient and staff parking needs alongside an established medical-services presence.
The property sits on a 1.25-acre lot and features block and stucco construction with natural gas heating. Accessibility is supported by an accessible approach with a ramp. Offsite parking is available, and the property also includes a large parking area across the street, bringing total parking to over 40 spaces.
Located at 111 & 127 Sandoval Road in Los Lunas, NM, the configuration supports patient and staff parking needs alongside an established medical-services presence.
Key Highlights
- Two buildings totaling 4,844 SF currently leased by Optum under a long‑term agreement
- 1.25‑acre lot with block and stucco construction
- Natural gas heating
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
$57,547
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
6.22%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- LOS LUNAS ANIMAL CLINIC — 575 NM-314, Los Lunas, NM 87031
- Animal Hospital of Los Lunas — 419 Main St SW, Los Lunas, NM 87031
- Bosque Animal Clinic — 835 E Main St Suite 101, 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 - Two-building medical office property leased long-term to Optum with natural gas heat and accessible ramp entry.
Where is this medical office space located?
The property is located at 111 & 127 Sandoval Road 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: Two buildings totaling 4,844 SF currently leased by Optum under a long‑term agreement; 1.25‑acre lot with block and stucco construction; Natural gas heating
