Commercial Sale in Farmington

$815,000

615 CARLTON, 87401, Farmington, NM

Commercial Sale for sale in Farmington, 615 CARLTON, 87401

615 CARLTON, 87401, Farmington, NM

$815,000

Type: Commercial Sale

Description

ATTENTION INVESTORS | STABILIZED NNN INDUSTRIAL ASSET w/ LONG-TERM TENANT. Fully leased, income-producing industrial property offering immediate cash flow, average 9% cap rate, & long-term investment stability. This turnkey asset is occupied by an established tenant operating under a 5-year municipal contract w/ a corresponding 5-year lease that commenced 1/1/24. Both the contract & lease include 5-year renewal options, & the tenant has historically renewed in prior terms, creating strong potential for continued occupancy, although future renewals cannot be guaranteed. The lease is structured as Triple Net (NNN), minimizing landlord responsibilities while providing built-in revenue growth through 3% annual rent escalations. Current 3rd year base rental income is $82, 750 annually, making this an attractive passive investment opportunity. Situated on 3.73 fully fenced industrial-zoned acres w/ electronic gated access & approximately 10, 892sf of improvements. Building A encompasses 5, 600sf. Approximately 2, 800sf was extensively renovated in 4/24 & features a reception area, 7 offices, a conference room, a break room w/ stove, fridge & sink, as well as 2 ADA restrooms. The remaining 2, 800sf is heated warehouse space w/ 2 overhead roll-up doors. Building B provides 600sf of enclosed light-duty metal storage along w/an attached 1, 200sf partially enclosed covered storage area. Building C contains 3, 492sf of adaptable space including a large meeting or training room, 3 offices, 2 bathrooms, heating & evaporative cooling, attached warehouse space & 2 covered porticos. Significant capital improvements have already been completed, reducing near-term maintenance concerns & enhancing long-term asset value. Recent upgrades include a new roof on Building A installed by DKG & Associates 6/24 & covered by warranty, a new heating system installed by Farmington Heating in 10/22, updated evaporative cooling systems, fence replacement, door repairs & complete office remodel

Location

615 CARLTON, 87401, Farmington, NM

Data

Object TypeCommercial Sale
Purchase Price$815,000
Living Space0 m²
Plot Size12140.56 m²
BathroomsN/A
Construction YearN/A
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeNatural Gas
Primary Energy SourceN/A
Construction YearN/A
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

Contact Agent

Listing Agent