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    608 Winifred St Bayard, NM 88023

    Sponsored
    For Sale
    $690,720

    High-visibility medical clinic with strong NOI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 608 Winifred Street in Bayard, New Mexico, presents a compelling investment opportunity. Situated on a highly visible corner at the intersection of Hwy 180E and Hwy 356, this building currently operates as a thriving medical clinic serving Bayard and the surrounding mining communities. Originally a bank building, it underwent a complete remodel in 2011 to accommodate its current medical office and clinic configuration. The property boasts ample parking with over 30 paved spaces, including ADA-compliant spots. Energy efficiency is enhanced by a 23 KW photovoltaic inter-tie grid solar system installed in 2017. The property benefits from a triple net lease, expiring December 31, 2033, with the tenant responsible for taxes, insurance, utilities, and non-structural repairs. The current annual net operating income (NOI) for 2024 is $51,804, with a built-in rent escalation clause of 2.5% annually. This translates to a projected annual rent of $64,696 by 2033. The property's prime location, strong tenant occupancy, and built-in rent increases make this a stable and potentially lucrative investment. The zip code is 88023. The property is classified as Special Purpose Land.

    Property Features for 608 Winifred St

    General Information

    Property type
    Land

    HighLights

    • $690,720 asking price.
    • Special purpose commercial land, 0 units.
    • Located at the high‑visibility intersection of Hwy 180E and Hwy 356 in Bayard, NM.
    • Currently operating as a medical clinic with a triple‑net lease expiring 12/31/2033.
    • Features over 30 paved parking spaces, including ADA‑compliant spaces, and a 23 kW solar system.
    • 2024 NOI: $51,804; projected 2033 NOI: $64,696; 2.5% annual rent escalation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Silver Health CARE ... Medical Clinic Silver Health CARE ... Urgent Care Center Laura Davenport-Reed Internist

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Gym & Fitness Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Bayard
    County
    Grant
    State
    New Mexico
    Longitude
    -108.1380956
    Latitude
    32.7578153

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    Nearby Similar for Sale

    • $395,000
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      Medical Clinic on High-Visibility Corner

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      View Details

    FAQs

    What type of property is this?
    Land - High-visibility medical clinic with strong NOI.
    Where is this land located?
    The property is located at 608 Winifred St Bayard, NM.
    What is the asking price?
    The asking price for this property is $690,720.
    What are key features of this property?
    This property features: $690,720 asking price.; Special purpose commercial land, 0 units.; Located at the high-visibility intersection of Hwy 180E and Hwy 356 in Bayard, NM.
    Request Owner's contact information
    608 Winifred St Bayard, NM 88023
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    Bayard, NM 88023
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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
    608 Winifred St Bayard, NM 88023
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