Office-Warehouse Flex
For Sale
$299,900
1503 Schofield Ln, Farmington, NM 87401
Includes dedicated office space with multiple private offices and a separate warehouse area for storage or distribution.
Property Size5,544 SF
Price / SF$54.09
Days on Market122
Property Features for 1503 Schofield Ln
General Information
Standard status
Active
Size
5,544 SF
Listing Agency:
Real Broker, LLC
(505) 501-8887
Listed By:
Bryan D Crawford · License #50122
(505) 501-8887
Source:
Exprealty
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 22 at 9:13AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This versatile flex property combines professional office space with functional warehouse capacity in one location. The office portion totals 2,184 square feet and is set up with four or more private offices, supporting administrative work and team collaboration. The remaining 3,360 square feet is warehouse space intended for storage, distribution, or light industrial use.
As a single, combined asset, the layout is designed to support day-to-day operations that need both client-facing or office functions and a dedicated area for handling goods or materials.
Overall, the property provides a practical mix of private office configuration and warehouse capacity, offering a straightforward setup for businesses that require both working space and storage in the same facility.
As a single, combined asset, the layout is designed to support day-to-day operations that need both client-facing or office functions and a dedicated area for handling goods or materials.
Overall, the property provides a practical mix of private office configuration and warehouse capacity, offering a straightforward setup for businesses that require both working space and storage in the same facility.
Key Highlights
- Total 5,544 SF commercial building with a combined office and warehouse layout
- 2,184 SF office area with four or more private offices for administrative and client use
- 3,360 SF warehouse space for storage, distribution, or light industrial operations
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
$22,400
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
7.47%
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%
$448,000
$448.0K
Cap Rate 7%
$320,000
$320.0K
Cap Rate 9%
$248,889
$248.9K
Market Conditions
NOI Build-Up for 5,544 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
$37.3K $6.72/SF
− Vacancy
−$2.8K −$0.50/SF
EGI
$34.5K $6.22/SF
− OpEx
−$12.1K −$2.18/SF
NOI
$22.4K $4.04/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
35.00%
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%
$448,000
Cap Rate 7%
$320,000
Cap Rate 9%
$248,889
Alternative Uses
Best Use
Office B
$707.1K
$618.7K – $825.0K
NOI $49,497 @ 7.0% cap · market cap 16.50%
Second Best
Warehouse
$590.3K
$516.5K – $688.7K
NOI $41,323 @ 7.0% cap · market cap 13.78%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,283 @ 7.0% cap · market cap 26.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87401, NM
44,724
Population
17,611
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
88%
High-School Grad
132.8 sq mi
ZIP Area
337
Density / Sq Mi
$56,358
Median Household Income
$31,362
Median Earnings
$983
Median Rent
$202,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Includes dedicated office space with multiple private offices and a separate warehouse area for storage or distribution.
Where is this flex space located?
The property is located at 1503 Schofield Ln Farmington, NM.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Total 5,544 SF commercial building with a combined office and warehouse layout; 2,184 SF office area with four or more private offices for administrative and client use; 3,360 SF warehouse space for storage, distribution, or light industrial operations
