800 E 30th St - Office FOR SALE


Farmington, NM 87401
$2,050,000 USD
972-765-0095
800 E 30th St, Farmington, NM for Sale
$2,050,000 USD
Office - FOR SALE
1/3
null | 7.41% Cap Rate

800 E 30th St
Farmington, NM 87401


HIGHLIGHTS

  • Build to Suit 2009
  • Mines Safety and Health Services one the Largest Coal Mines in the Region
  • Probation Office Services Nearby Adult Detention Center

OVERVIEW

This dual tenant facility is occupied by two GSA tenants, built-to-suit in 2009 and consists of 5,953 rentable square feet. The site includes 0.82 acres and is a busy facility. The Mines Safety and Health Administration exercised their renewal option under this second-generation lease for 10-years, 5-years firm effective August 1, 2024, with the firm term expiring July 31, 2029, and the full remaining term expiring July 31, 2034, illustrating the MSHA's commitment to the location. The United States Probation Office, also located at this facility, just renewed their lease with a 17 year lease and 15 years firm. This investment provides investors with a value-add opportunity with a rent escalation scheduled in 2029, creating additional value for a long-term hold or disposition upon lease renewal. This GSA building and its tenants provides investors stable returns guaranteed by the US Government (AA+ S&P credit rating). This is facility is located in a dense, urban area surrounded by national retailers, banks, and restaurants. This will continue to be a valuable space given the nearby San Juan Mine and the probation office services the Adult Detention Center of San Juan County.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$339 USD /SF

CAP RATE

7.41%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,688 SF

ZONING

-

APN/PARCEL ID

0036527

ASK ABOUT THIS PROPERTY

Brad MillsMarcus & MillichapMore Info
972-765-0095

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Brad MillsMarcus & MillichapMore Info
972-765-0095

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.