94 High Mesa Rd Los Lunas, NM 87031

Property Details for 94 High Mesa Rd

Year built

1989

Lot size

9.96 lot acres

Property size

3,729 SF

Property type

Commercial real estate

APN

1 017 038 109 232 000000

Description

This exceptional 3,729 square foot ranch-style home sits on nearly 10 acres in Los Lunas, New Mexico. Built in 1989, this single-story property features a spacious primary bedroom with a floor-to-ceiling fireplace and an updated ensuite bathroom boasting a large tub, stand-alone shower, and vessel sink. The kitchen, perfect for entertaining, includes double sinks, marble tile countertops, and a convenient serving hatch. The home also offers two additional bedrooms and one bathroom, with a third bedroom suitable for use as a mother-in-law suite. A large barn/workshop provides ample storage or potential for a remote business, complemented by covered corrals ideal for horses or livestock. The property includes a private well and is zoned R-1. The current NOI is $20,536, with a pro-forma NOI of $25,136, representing a 3.91% cap rate and a pro-forma cap rate of 4.79%. The asking price is $525,000, with a price per square foot of $140.79. The land value is $160.90 per square foot. The property's APN is 1 017 038 109 232 000000. Occupancy is currently at 70%, with a projected full occupancy date of October 14, 2024. This unique property offers a blend of comfortable living and versatile outbuildings, making it an attractive investment opportunity.