Two-Suite Office
For Sale
$649,000
9000-4801 N Butler Ave, Farmington, NM 87401
Separate suites, conference rooms, reception areas, kitchen, bathrooms, and storage support professional office use.
Property Size2,923 SF
Price / SF$222.03
Days on Market364
Property Features for 9000-4801 N Butler Ave
General Information
Standard status
Active
Size
2,923 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,330
Building Details
Buildings
1
Listing Agency:
CENTURY 21 SoWesCo Realty
(505) 793-2800
Listed By:
Gordon N Crane · License #8320
(505) 793-2800
Source:
Exprealty
Added: Sep 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:48PM
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 office building is currently leased and configured for occupancy by one company or two separate users. The layout includes distinct suites with reception areas, private office space, conference rooms, a kitchen, bathrooms, and storage areas. The property has also previously accommodated medical and attorney businesses.
Two entrances connect the building to the Butler Professional Center from North Butler Avenue, south of Pinion Hills Blvd. Covenants for the Butler Professional Center complex are available. The property size is 2,923, with the building’s multi-suite configuration supporting flexible professional office operations.
Two entrances connect the building to the Butler Professional Center from North Butler Avenue, south of Pinion Hills Blvd. Covenants for the Butler Professional Center complex are available. The property size is 2,923, with the building’s multi-suite configuration supporting flexible professional office operations.
Key Highlights
- 2,923 property size
- Configured for one company or two separate suites
- Reception areas, offices, conference rooms, kitchen, bathrooms, and storage
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
$26,097
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
4.02%
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%
$521,940
$521.9K
Cap Rate 7%
$372,814
$372.8K
Cap Rate 9%
$289,967
$290.0K
Market Conditions
NOI Build-Up for 2,923 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
$43.5K $14.88/SF
− Vacancy
−$8.7K −$2.98/SF
EGI
$34.8K $11.90/SF
− OpEx
−$8.7K −$2.98/SF
NOI
$26.1K $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%
$521,940
Cap Rate 7%
$372,814
Cap Rate 9%
$289,967
Alternative Uses
Best Use
Office B
$372.8K
$326.2K – $435.0K
NOI $26,097 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.7K
$529.1K – $705.5K
NOI $42,328 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
128
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 building - Separate suites, conference rooms, reception areas, kitchen, bathrooms, and storage support professional office use.
Where is this office building located?
The property is located at 9000-4801 N Butler Ave Farmington, NM.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,923 property size; Configured for one company or two separate suites; Reception areas, offices, conference rooms, kitchen, bathrooms, and storage
