Leased Office Complex with
For Sale
Contact for pricing
Pending
3300 N BUTLER Avenue, Farmington, NM 87401
Highly visible office complex with 13 established leases and several vacant units, offering current income and leasing opportunities.
Property Size12,256 SF
Days on Market54
Property Features for 3300 N BUTLER Avenue
General Information
Standard status
Pending
Size
12,256 SF
Property subtype
Land
Listing Agency:
R1 New Mexico Farmington
(505) 716-8130
Listed By:
Elizabeth McGinness-DiGiacomo
Source:
Crexi
Added: Jul 6
Changed: Aug 14
Last Checked: Aug 14 at 7:10AM
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 R1 New Mexico Farmington
Investment Insights
Based on property information with market context.
3300 N Butler is a highly visible commercial office complex offering a mix of leased and vacant space. The property includes 13 established leases, along with several additional vacant units.
The complex is situated in a high-traffic location with convenient access and visibility. It is positioned near surrounding businesses and services, supporting flexible use for prospective tenants.
For sale and sized at 12,256, the property presents a straightforward leasing mix for an investor or owner-operator looking for existing occupancy plus space available for future leasing.
The complex is situated in a high-traffic location with convenient access and visibility. It is positioned near surrounding businesses and services, supporting flexible use for prospective tenants.
For sale and sized at 12,256, the property presents a straightforward leasing mix for an investor or owner-operator looking for existing occupancy plus space available for future leasing.
Key Highlights
- Highly visible commercial office complex at 3300 N Butler
- 13 established leases providing current rental income
- Includes several vacant units for additional leasing opportunities
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
$109,422
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
9.13%
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%
$2,188,440
$2.2M
Cap Rate 7%
$1,563,171
$1.6M
Cap Rate 9%
$1,215,800
$1.2M
Market Conditions
NOI Build-Up for 12,256 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
$182.4K $14.88/SF
− Vacancy
−$36.5K −$2.98/SF
EGI
$145.9K $11.90/SF
− OpEx
−$36.5K −$2.98/SF
NOI
$109.4K $8.93/SF
Area
San Juan County, NM
Vacancy
20.00%
Lease Rate
$14.88 /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%
$2,188,440
Cap Rate 7%
$1,563,171
Cap Rate 9%
$1,215,800
Alternative Uses
Best Use
Office B
$1.56M
$1.37M – $1.82M
NOI $109,422 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,479 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Office units - Highly visible office complex with 13 established leases and several vacant units, offering current income and leasing opportunities.
Where is this office units located?
The property is located at 3300 N BUTLER Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Highly visible commercial office complex at 3300 N Butler; 13 established leases providing current rental income; Includes several vacant units for additional leasing opportunities
