723 New York Ave
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723 New York Ave
2,520 SF Office Building Alamogordo, NM 88310 $1,295,000 ($514/SF) 9.20% Cap Rate
Investment Highlights
- Fresh complete remodel to suit Tenant completed Sept 2024
- 10 Year Lease to the State of New Mexico Corrections Department
- Stable community with strong long-term employment bases
Executive Summary
Single-Tenant Government leased office building available for sale.
Absolute Investment Realty is pleased to present this opportunity to acquire a rare single-tenant government leased building in Alamogordo, NM.
The property is 100% leased to New Mexico Corrections Department on a 10-year lease. A complete remodel of the building and property was completed in September 2024. The tenant took occupancy beginning October 2024.
The property is located just off the main road in Alamogordo NM, just east of Holloman AFB and White Sands National Monument and Missile Range.
* Pricing based on blended cap rate on $69,550.00 NOI and $449,894.73 TI Reimbursement. See Flyer for Details
Absolute Investment Realty is pleased to present this opportunity to acquire a rare single-tenant government leased building in Alamogordo, NM.
The property is 100% leased to New Mexico Corrections Department on a 10-year lease. A complete remodel of the building and property was completed in September 2024. The tenant took occupancy beginning October 2024.
The property is located just off the main road in Alamogordo NM, just east of Holloman AFB and White Sands National Monument and Missile Range.
* Pricing based on blended cap rate on $69,550.00 NOI and $449,894.73 TI Reimbursement. See Flyer for Details
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
2,520 SF
Building Class
C
Year Built/Renovated
1995/2024
Price
$1,295,000
Price Per SF
$514
Cap Rate
9.20%
NOI
$119,140
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,520 SF
Building FAR
0.21
Land Acres
0.28 AC
Parking
15 Spaces (5.95 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | R010856 | Improvements Assessment | $71,142 |
| Land Assessment | $17,729 | Total Assessment | $88,871 |
PROPERTY TAXES
Parcel Number
R010856
Land Assessment
$17,729
Improvements Assessment
$71,142
Total Assessment
$88,871
-
Alfredo Barrenechea -
Absolute Investment Realty
(505) 346-6006
x701
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723 New York Ave
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