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Property profile & analytics
FOR LEASE
Office buildings
2240 Grande Blvd SE Rio Rancho, NM 87124
Entity Owned
8-yr Hold
Free & Clear
Property ID
US61-1395157
No photos on file
For Lease
$19.50 SF/Yr
2240 Grande Blvd SE, Rio Rancho, NM 87124
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
1,991 SF
Lot
0.18 ac (7,841 SF)
APN
1-013-067-003-001
UPID
US61-1395157
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cj Legacy II LLC · 8 yrs held
Cj Legacy II LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rio Rancho submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rio Rancho submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,289
Tax year 2023
Assessed value
$127,009
Assessed 2024
Previous assessed
$127,009
+0.0% YoY
Effective rate
4.16%
On assessed value
Assessed land
$14,010
Assessed improvement
$112,999
Land market value
$42,031
Improvement market value
$338,998
Total market value
$381,029
Applied tax rate
510.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2007
Heating
NONE
Stories
1
Total area
1,991 SF
Lot
0.18 ac (7,841 SF)
APN
1-013-067-003-001
UPID
US61-1395157
Jurisdiction
SANDOVAL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Cj Legacy II LLC
Entity
Free & Clear · 8 yrs held
Mailing address
6466 CONVINTO ST, LAS VEGAS, NV 89131-3157
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2019
—
Rest Properties LLC
—
Deed
related
$340,362 · Bank Of Albuquerque
Nov 29, 2017
—
Cj Legacy II LLC
Savant Rrnm 1 LLC
Warranty Deed
—
Oct 26, 2015
—
Rest Properties LLC
Fife,steven R
Quit Claim Deed
related
—
Aug 18, 2014
—
Savant Rrnm1 LLC
Allen,edward H & Carol
Grant Deed
related
—
Jul 1, 2014
—
Edward H Allen
2240 Grande 303 LLC
Grant Deed
related
—
Nov 29, 2011
—
Steven R Fife
2240 Grande 303 LLC
Grant Deed
$197,500 · Compass Bank
Jun 21, 2010
—
2240 Grande 303 LLC
Allen,edward H & Carol
Warranty Deed
$280,000 · Southwest Investment Trust Pp
—
—
Savant Rrnm 1 LLC
—
Deed Of Trust
related
$290,000 · Mybank
—
—
2240 Grande 303 LLC
—
Deed Of Trust
related
$249,500 · Sunrise Bank Of Albuquerque
—
—
Steven R Fife
—
Deed Of Trust
related
$222,500 · Compass Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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