3188 Southern SE Blvd Rio Rancho, NM 87124-1989

This fully occupied, 8,060 square foot commercial building in Rio Rancho, NM, presents a compelling value-add investment opportunity. Located at 3188 Southern Blvd SE, this single-story, 2003-built property boasts 10 units with a mix of creative office, medical office, and data center spaces. Currently generating a NOI of $94,450 with a 5.92% cap rate, the property offers significant upside potential. The seller is offering financing with a $595,000 down payment. Tenants currently pay below-market rates, with seven on month-to-month leases and three on annual leases. A pro-forma NOI of $135,914 and a pro-forma cap rate of 8.52% are projected based on market rent adjustments and potential tenant improvements for additional Generative AI office or R&D flex space, which could add at least $10,000 in monthly rent. The 0.92-acre lot provides ample space, and the property features 11-18 foot ceilings and 5 parking spaces per 1,000 square feet. The property is situated on a busy corner lot with high visibility, near major banks and with easy access to major roadways, including Intel. This is an exceptional opportunity for investors seeking strong cash flow and significant appreciation potential. The property is zoned SU. Net rentable space totals 6,239 square feet. The asking price is $1,595,000.