Leased Medical Office
For Sale
Contact for pricing
111 Sandoval Rd SW, Los Lunas, NM 87031
Medical office building leased by Optum under a long-term lease, with parking across the street.
Property Size2,903 SF
Price / SF$159.32
Days on Market16
Property Features for 111 Sandoval Rd SW
General Information
Standard status
Active
Size
2,903 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Champions, Inc.
Listed By:
Nancy Montoya · License #NM
Source:
Crexi
Added: Jul 21
Changed: Jul 31
Last Checked: Aug 4 at 11:54AM
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 Champions, Inc.
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 For Office B
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 | $57.5k | $19.80 |
| − Vacancy | −$11.5k | −$3.96 |
| EGI | $46.0k | $15.84 |
| − OpEx | −$11.5k | −$3.96 |
| NOI | $34.5k | $11.88 |
2,903 SF · lease $19.80/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$492.7K
$431.1K – $574.8K
NOI $34,488 @ 7.0% cap · market cap 7.46%
Second Best
Healthcare Medical
$416.5K
$364.5K – $486.0K
NOI $29,158 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$600.3K
$525.2K – $700.3K
NOI $42,019 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
553
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.
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- 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 Sandoval Rd SW Los Lunas, NM.
What is the asking price?
The asking price for this property is $462,500.
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
