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123 N 1st St 2,500 SF Office Building Grants, NM 87020 $250,000 ($100/SF) 7.20% Cap Rate
Investment Highlights
- Currently income-producing with established tenant
- Vault and considerable storage.
- 5 private offices + large flexible common/work area
Executive Summary
Tenant pays all utilities, insurance, and basic maintenance for normal wear and tear. Landlord pays for major mechanical systems, electrical wiring, plumbing, roof, exterior walls and structural foundations.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$21,600
|
$7.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$21,600
|
$7.34
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$3,000
|
$1.02
|
| Net Operating Income |
$18,600
|
$6.32
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $21,600 |
| Annual Per SF | $7.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $21,600 |
| Annual Per SF | $7.34 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $1.02 |
| Net Operating Income | |
|---|---|
| Annual | $18,600 |
| Annual Per SF | $6.32 |
Property Facts
Sale Type
Investment
Property Type
Building Size
2,500 SF
Building Class
C
Year Built
1970
Price
$250,000
Price Per SF
$100
Cap Rate
7.20%
NOI
$18,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,500 SF
Building FAR
0.29
Lot Size
0.20 AC
Opportunity Zone
Yes
Parking
12 Spaces (4.8 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
Allstate began in 1931 as part of Sears, Roebuck and Co. and grew into a major U.S. insurance business. The company focuses on property and casualty insurance and offers coverage for autos, homes, renters, motorcycles, and related personal protection needs. The company also provides life insurance, business insurance, retirement and investment planning, and support services such as claims help, roadside assistance, and identity restoration. Allstate serves customers through branded agents, independent agents, and direct-to-consumer channels in the United States and Canada.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | R16474 | Improvements Assessment | $47,447 |
| Land Assessment | $3,550 | Total Assessment | $50,997 |
Property Taxes
Parcel Number
R16474
Land Assessment
$3,550
Improvements Assessment
$47,447
Total Assessment
$50,997
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Contact the Sale Advisor
123 N 1st St