Farm-Style Warehouse and
For Sale
$695,000
Pending
49 Road 3150, Aztec, NM 87410
Two buildings totaling 7,576 sq. ft. support a land farm use, with shop/warehouse space featuring two bay doors.
Property Size7,576 SF
Lot Size76.15 Acres
Days on Market872
Property Features for 49 Road 3150
General Information
Standard status
Pending
Size
7,576 SF
Lot size
76.15 Acres
Listing Agency:
CENTURY 21 SoWesCo Realty
(505) 793-2800
Listed By:
Gordon N Crane · License #8320
(505) 793-2800
Source:
Exprealty
Added: Apr 12, 2024
Changed: Aug 21
Last Checked: Aug 30 at 7:32PM
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 SoWesCo Realty
Investment Insights
Based on property information with market context.
This expansive commercial property spans 76.15 acres and includes two buildings. The first building totals approximately 5,040 square feet and contains about 2,600 square feet of office-related space, including a reception area, office space, two bathrooms, a break room, storage room, and an IT room. The same building also includes approximately 2,440 square feet of shop/warehouse space with two bay doors.
A second building provides approximately 2,536 square feet of additional space. The property has been used as a land farm.
Access is described as being just east off Road 350, and the address is listed as 49 Road 3150 in Aztec, New Mexico.
A second building provides approximately 2,536 square feet of additional space. The property has been used as a land farm.
Access is described as being just east off Road 350, and the address is listed as 49 Road 3150 in Aztec, New Mexico.
Key Highlights
- 76.15‑acre commercial property located just east off Road 350
- Two buildings totaling 7,576 sq. ft.
- Building 1 includes 2,600 sq. ft. with reception area, office space, 2 bathrooms, break room, storage room, and IT room
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
$56,469
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
8.13%
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%
$1,129,380
$1.1M
Cap Rate 7%
$806,700
$806.7K
Cap Rate 9%
$627,433
$627.4K
Market Conditions
NOI Build-Up for 7,576 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
$71.8K $9.48/SF
− Vacancy
−$5.4K −$0.71/SF
EGI
$66.4K $8.77/SF
− OpEx
−$10.0K −$1.32/SF
NOI
$56.5K $7.45/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,129,380
Cap Rate 7%
$806,700
Cap Rate 9%
$627,433
Alternative Uses
Best Use
Warehouse
$806.7K
$705.9K – $941.2K
NOI $56,469 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,708 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87410, NM
16,064
Population
6,402
Households
2.5
Avg Household Size
40
Median Age
17%
College-Educated
88%
High-School Grad
265.6 sq mi
ZIP Area
60
Density / Sq Mi
$51,283
Median Household Income
$31,436
Median Earnings
$802
Median Rent
$192,600
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?
Warehouse - Two buildings totaling 7,576 sq. ft. support a land farm use, with shop/warehouse space featuring two bay doors.
Where is this warehouse located?
The property is located at 49 Road 3150 Aztec, NM.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 76.15‑acre commercial property located just east off Road 350; Two buildings totaling 7,576 sq. ft.; Building 1 includes 2,600 sq. ft. with reception area, office space, 2 bathrooms, break room, storage room, and IT room
