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    4650 Butler Ave Farmington, NM 87401

    For Sale
    $2,300,000

    8,835 SF Office, 10-Year Lease, 8.83% Cap Rate

    Property size:
    8,835 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents a single-tenant, fee-simple office building totaling 8,835 square feet, situated on a 1.85-acre lot in Farmington, New Mexico. The property boasts a strong 10-year remaining lease term (with a 15-year initial term commencing May 20, 2019, and expiring May 19, 2034) to the Social Security Administration, backed by a corporate guarantee. The building, constructed in 2002, is a single-story structure with ample parking (2.27 spaces per 1,000 sq ft). The current occupancy is 100%, achieving a Net Operating Income (NOI) of $203,317 and an attractive 8.83% capitalization rate. Rent increases annually based on the Consumer Price Index (CPI). The property's location at 4650 N Butler Ave, Farmington, NM 87401, offers strategic advantages, being less than two hours from two Native American reservations. The seller has completed necessary electrical and groundwork for potential future expansion on the sizable lot. This is a stabilized investment with a long-term, mission-critical tenant, providing significant financial stability and potential for future growth. The asking price is $2,300,000. The property's APN is 2075174015279.

    Property Features for 4650 Butler Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    8,835 SF
    Lot Size
    80,586 SF

    Building Details

    Year Built
    2002
    Buildings
    1
    Stories
    1

    HighLights

    • 10‑Year Firm Lease with Social Security Administration (SSA) in Farmington, NM; Next nearest SSA facility is 117 miles away.
    • 10‑Year Firm Lease with 5‑Year Renewal Option demonstrating strong tenant commitment.
    • Annual CPI Rent Increases providing consistent income growth.
    • 1.85‑Acre Lot allowing for future expansion.
    • Utilities infrastructure is in place to support potential expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Social Security Administration Social Security Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.1846635
    Latitude
    36.7703058

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    FAQs

    What type of property is this?
    Office Property / Space - 8,835 SF Office, 10-Year Lease, 8.83% Cap Rate
    Where is this office property / space located?
    The property is located at 4650 Butler Ave Farmington, NM.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: 10-Year Firm Lease with Social Security Administration (SSA) in Farmington, NM; Next nearest SSA facility is 117 miles away.; 10-Year Firm Lease with 5-Year Renewal Option demonstrating strong tenant commitment.; Annual CPI Rent Increases providing consistent income growth.
    Request Owner's contact information
    4650 Butler Ave Farmington, NM 87401
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    Farmington, NM 87401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4650 Butler Ave Farmington, NM 87401
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