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Standalone Edgewood Office 21 Main St 5,000 SF Office Building Edgewood, NM 87015 $795,000 ($159/SF)
INVESTMENT HIGHLIGHTS
- .36 acre paved parking lot
- 0.5 Acre Paved and Fenced Yard
- New paint & carpet
- .5 acre secured, gated yard with remote entry
- Functional office floor plan
- Parking lot resurfaced in 2016
EXECUTIVE SUMMARY
Single Tenant investment opportunity guaranteed by the Town of Edgewood. The 5-year lease, executed October 2024, provides 3% annual rent escalations throughout the initial term and the two 5-year extension options. The tenant is responsible for all interior and exterior repairs and maintenance leaving the landlord responsible for only property taxes, insurance, and maintenance/repairs to roof. The current lease rate of $14.00 PSF is a very replaceable rent in this market considering the lack of available office space in the immediate and surrounding area.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,000 SF
Building Class
B
Year Built
2006
Price
$795,000
Price Per SF
$159
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.09
Lot Size
1.30 AC
Zoning
C-2
Parking
34 Spaces (6.8 Spaces per 1,000 SF Leased)
AMENITIES
- Secure Storage
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PROPERTY TAXES
| Parcel Number | 095252591 | Improvements Assessment | $287,856 |
| Land Assessment | $35,400 | Total Assessment | $323,256 |
PROPERTY TAXES
Parcel Number
095252591
Land Assessment
$35,400
Improvements Assessment
$287,856
Total Assessment
$323,256
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Standalone Edgewood Office | 21 Main St
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