1183 Diamond Dr 12,974 SF 100% Leased Retail Building Los Alamos, NM 87544 $3,950,000 ($304.46/SF) 6.05% Cap Rate

Russ NM, LLC is pleased to present 1183 Diamond Drive, a fully leased office and retail center located in the highly supply-constrained market of Los Alamos, New Mexico.
The Property is strategically positioned along Diamond Drive, directly adjacent to the University of New Mexico Los Alamos campus and directly across from Los Alamos High School. The center benefits from excellent visibility, dual access points, abundant on-site parking, and a strong mix of government and service-oriented tenants.
The Property is 100% leased to four long-term tenants providing stable cash flow and durable occupancy. Approximately 69% of the gross leasable area is occupied by State and County government agencies, creating an exceptionally stable income stream.
Investment Highlights
• 100% Leased Stabilized Asset
• Projected 2026 Net Operating Income: $238,779
• Asking Price: $3,950,000
• Cap Rate: 6.04%
• Approximately 12,974 SF situated on 1.098 acres
• Approximately 69% Government Tenancy
• Exceptional Barrier to Entry – Commercial development opportunities in Los Alamos are extremely limited due to surrounding federal land and Pueblo lands, creating a highly supply-constrained investment market.
• Attractive Modern Storefronts with Extensive Natural Lighting
• Dual Access Points with Full Turning Access
• Abundant On-Site Parking
• Monument Signage Along Diamond Drive
• Convenient Indoor Walk-Up ATM
• Over $440,000 Invested in Recent Capital Improvements
• Embedded Rental Upside as Existing Leases Roll to Market Rates
Ownership has invested more than $440,000 in capital improvements over the past three years, including new stucco and exterior paint, replacement of all rooftop HVAC units, new sidewalks, and parking lot improvements, significantly reducing near-term capital expenditure requirements.
The tenant mix includes:
• New Mexico Environment Department
• County of Los Alamos
• Gracie Barra Brazilian Jiu-Jitsu Academy
• Enterprise Bank & Trust ATM Lobby
Los Alamos is one of the most economically stable and affluent communities in the United States, driven by Los Alamos National Laboratory, one of the nation's premier federal research institutions and the region's primary economic engine. The market benefits from exceptionally high household incomes, outstanding educational attainment, and extremely limited developable land due to surrounding federal and Pueblo land holdings.
The community also experiences exceptionally low property-related crime and vandalism compared to larger metropolitan markets, contributing to lower operating risk and reduced maintenance costs for property owners.
Current in-place rents average approximately $18 per square foot, compared to approximately $25 per square foot for comparable Los Alamos office and retail space, providing investors with meaningful embedded rental upside as leases renew over the next three to five years.
This offering represents a rare opportunity to acquire a stabilized, low-risk investment property in one of the Southwest's most supply-constrained and economically resilient markets.
Seller is offering a 3% commission to qualified cooperating buyer's brokers.
For additional information or to request the Offering Memorandum, contact:
Russell Ross
Managing Member
Russ NM, LLC
+1-719-641-7858
RussNMLLC@gmail.com