Warehouse with Office and Fenced
For Sale
Contact for pricing
Pending
940 NM 516, Aztec, NM 87410
Flex-style facility with office space, a multi-bay warehouse, and a fenced yard along busy NM 516.
Property Size12,000 SF
Lot Size1.69 Acres
Days on Market656
Property Features for 940 NM 516
General Information
Standard status
Pending
Size
12,000 SF
Lot size
1.69 Acres
Property subtype
Special Purpose, Land
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Clear Height
25 ft
Service Bays
5
Listing Agency:
Century21 SoWesCo Realty
Listed By:
David McBee · License #41884
(505) 325-2100
Source:
Crexi
Added: Nov 21, 2024
Changed: Aug 24
Last Checked: Aug 14 at 8:01AM
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 Century21 SoWesCo Realty
Investment Insights
Based on property information with market context.
This flex-style property includes approximately 4,800 square feet of office space and about 7,200 square feet of warehouse space. The warehouse is configured with five bays and features ceiling heights that include 25' and 21', along with other varying heights.
The building is situated on 1.695 acres on a very busy road, NM 516, in Flora Vista, NM. The site includes a fenced yard and offers highway frontage.
Overall, the layout combines dedicated office space with a multi-bay warehouse footprint, making it suitable for users seeking both administrative space and functional warehouse capacity on a visible highway location.
The building is situated on 1.695 acres on a very busy road, NM 516, in Flora Vista, NM. The site includes a fenced yard and offers highway frontage.
Overall, the layout combines dedicated office space with a multi-bay warehouse footprint, making it suitable for users seeking both administrative space and functional warehouse capacity on a visible highway location.
Key Highlights
- Flex‑style commercial facility for lease on busy NM 516 in Flora Vista, NM
- Sits on 1.695 acres with approximately 4,800 SF of office space
- Includes approximately 7,200 SF warehouse with 5 bays and ceiling heights ranging from 21' to 25'
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
$73,660
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
8.23%
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%
$1,473,200
$1.5M
Cap Rate 7%
$1,052,286
$1.1M
Cap Rate 9%
$818,444
$818.4K
Market Conditions
NOI Build-Up for 12,000 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
$113.8K $9.48/SF
− Vacancy
−$8.5K −$0.71/SF
EGI
$105.2K $8.77/SF
− OpEx
−$31.6K −$2.63/SF
NOI
$73.7K $6.14/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,473,200
Cap Rate 7%
$1,052,286
Cap Rate 9%
$818,444
Alternative Uses
Best Use
Warehouse
$1.28M
$1.12M – $1.49M
NOI $89,444 @ 7.0% cap · market cap 9.99%
Second Best
Industrial
$1.05M
$920.8K – $1.23M
NOI $73,660 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$2.48M
$2.17M – $2.90M
NOI $173,772 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
5
Service bays
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87410, NM
16,064
Population
6,402
Households
2.5
Avg Household Size
40
Median Age
17%
College-Educated
88%
High-School Grad
265.6 sq mi
ZIP Area
60
Density / Sq Mi
$51,283
Median Household Income
$31,436
Median Earnings
$802
Median Rent
$192,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex-style facility with office space, a multi-bay warehouse, and a fenced yard along busy NM 516.
Where is this flex space located?
The property is located at 940 NM 516 Aztec, NM.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Flex‑style commercial facility for lease on busy NM 516 in Flora Vista, NM; Sits on 1.695 acres with approximately 4,800 SF of office space; Includes approximately 7,200 SF warehouse with 5 bays and ceiling heights ranging from 21' to 25'
