4650 Butler Ave Farmington, NM 87401
- Office Properties & Spaces
- 9,245 SF
- 1.84 lot acres
Current Use by Public Records
- Social Security Administration / Social Security Office
Property Details for 4650 Butler Ave
- Year built
- 2002
- Lot size
- 1.84 lot acres
- Property size
- 9,245 SF
- Property type
- Office Properties & Spaces
- APN
- 2075174015279
- APU
- 2075174015279
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Farmington
- County
- San Juan
- State
- New Mexico
- Longitude
- -108.185
- Latitude
- 36.7701
- CBSA code
- 22140
- CBSA name
- FARMINGTON, NM METROPOLITAN STATISTICAL AREA
