Three-Unit Office Condo
For Sale
$1,195,000
2240 Grande Blvd SE Ste 106 2320 Grande Blvd SE Stes B & D, Rio Rancho, NM 87124
Three office condominium suites are occupied by long-term tenants with options to extend their leases.
Property Size5,327 SF
Price / SF$224.33
Days on Market233
Property Features for 2240 Grande Blvd SE Ste 106 2320 Grande Blvd SE Stes B & D
General Information
Standard status
Active
Size
5,327 SF
Property subtype
Investment
Zoning
SU
Occupancy
100%
Additional Details
Office Units
3
Building Details
Tenancy
Multi
Listing Agency:
NAI SunVista
Listed By:
Martha Carpenter
(505) 338-9870
Source:
Carnm.resimplifi
Added: Feb 24
Changed: Oct 6
Last Checked: Oct 14 at 7:46PM
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 NAI SunVista
Investment Insights
Based on property information with market context.
This offering includes three professional office condominium suites at 2240 Grande Blvd SE, Suite 106, and 2320 Grande Blvd SE, Suites B and D. The units are occupied by three long-term tenants, and the current leases include several extension options.
The seller prefers to convey all three suites together. The combined listed property size is 5,327. The property is located in Rio Rancho, New Mexico, with zoning identified as SU.
The seller prefers to convey all three suites together. The combined listed property size is 5,327. The property is located in Rio Rancho, New Mexico, with zoning identified as SU.
Key Highlights
- Three professional office condominium suites offered together
- 100% leased to three long‑term tenants
- Current tenants have several lease‑extension options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,057
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,401,140
$1.4M
Cap Rate 7%
$1,000,814
$1.0M
Cap Rate 9%
$778,411
$778.4K
Market Conditions
NOI Build-Up for 5,327 SF
Gross rent
$111.9K $21.00/SF
− Vacancy
−$18.5K −$3.47/SF
EGI
$93.4K $17.54/SF
− OpEx
−$23.4K −$4.38/SF
NOI
$70.1K $13.15/SF
Area
Rio Rancho, NM
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,401,140
Cap Rate 7%
$1,000,814
Cap Rate 9%
$778,411
Alternative Uses
Best Use
Office B
$1.00M
$875.7K – $1.17M
NOI $70,057 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,357 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Three office condominium suites are occupied by long-term tenants with options to extend their leases.
Where is this office units located?
The property is located at 2240 Grande Blvd SE Ste 106 2320 Grande Blvd SE Stes B & D Rio Rancho, NM.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Three professional office condominium suites offered together; 100% leased to three long‑term tenants; Current tenants have several lease‑extension options
