1398 Weimer Rd Taos, NM 87571
- Office Properties & Spaces
- 18,036 SF
- 2.15 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1398 Weimer Rd
- Lot size
- 2.15 lot acres
- Property size
- 18,036 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional two-story, 18,036 square foot medical office building in Taos, New Mexico, is situated directly across from Holy Cross Medical Center. The property boasts 100% occupancy with three tenants, including a major anchor tenant, Holy Cross Medical Center/Taos Health System, Inc., occupying approximately 67% of the space. The building features a strong weighted average lease term (WALT) of 3.8 years, with recent lease renewals extending through 2029 for the primary tenant and through 2028 for another. The property offers a 7.50% cap rate and a net operating income (NOI) of $337,426. Located on a 2.145-acre lot, it provides ample parking (7.15 spaces per 1,000 sq ft). The asking price is $4,500,000, or $249.50 per square foot. This stabilized investment opportunity benefits from NNN leases with annual rent bumps, a prime location in a thriving healthcare market, and a history of consistent, high occupancy (100% for over 15 years). The building serves a significant healthcare hub in north-central New Mexico and southern Colorado, with strong barriers to entry. This presents a compelling opportunity for investors seeking a stable, cash-flowing asset with minimal management responsibilities. The property's long-term tenants and strong location contribute to its exceptional investment potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Taos
- County
- Taos
- State
- New Mexico
- Longitude
- -105.578
- Latitude
- 36.3677
