Office Building in Research
4605 Research Park Cir, Las Cruces, NM 88001
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Office building with long-term leases in Arrowhead Research Park.
Type:Office
Property size:
15,589 SFPrice / SF:
$153/SF- Added:
- May 7, 2024
- Days on Market:
- 756
- Last Refresh:
- May 12 at 10:18 pm
Property Features for 4605 Research Park Cir
General Information
- Standard status
- Active
- Size
- 15,589 SF
- Property subtype
- Office
Listing agent John Ransom License #NM 11451
Listing office Colliers - Albuquerque, New Mexico (505) 880-7092
Listing date May 7, 2024
Source Crexi
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 Colliers - Albuquerque, New Mexico
HighLights
- Long‑term ground lease with favorable terms, expiring 7/25/2047, plus three (3) additional five (5) year options.
- Located within NMSU’s Arrowhead Research Park with direct visual exposure and easy access to Interstate 25 and 10.
- Two State of New Mexico tenants with long‑term leases.
- Access to NMSU resources and strategic partners.
- Opportunities for business to partner with NMSU in pursuit of grants and contracts.
- Access to the Arrowhead Technology Incubator and the National Security Technology Incubator.
Overview
This 15,589 square foot office building is located within New Mexico State University’s 257-acre Arrowhead Research Park. The property benefits from direct visual exposure and easy access to Interstate 25 and 10. The property has favorable ground lease terms with an initial term expiring on July 25, 2047, and includes three additional five-year options to extend. Two State of New Mexico tenants occupy the building under long-term leases. The location provides access to NMSU resources and strategic partners, creating opportunities for businesses to partner with NMSU in pursuit of grants and contracts. Access to the Arrowhead Technology Incubator and the National Security Technology Incubator is also available. The property features an on-site world-class telecommunication network.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $215.1k | $13.80 |
| − Vacancy | −$31.2k | −$2.00 |
| EGI | $183.9k | $11.80 |
| − OpEx | −$46.0k | −$2.95 |
| NOI | $138.0k | $8.85 |
15,589 SF · lease $13.80/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,951 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,959 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Spaceport America Corporate ...
Corporate Office
Location Insight
- Map
- Local Demand
- City
- Las Cruces
- County
- Dona Ana
- State
- New Mexico
- Longitude
- -106.7429261
- Latitude
- 32.2704313
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Office building with long-term leases in Arrowhead Research Park.
Where is this office building located?
The property is located at 4605 Research Park Cir Las Cruces, NM.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Long‑term ground lease with favorable terms, expiring 7/25/2047, plus three (3) additional five (5) year options.; Located within NMSU’s Arrowhead Research Park with direct visual exposure and easy access to Interstate 25 and 10.; Two State of New Mexico tenants with long‑term leases.
