1600 E 32nd St
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1600 E 32nd St
11,800 SF Office Building Silver City, NM 88061 £3,220,474 (£273/SF) 7.50% Net Initial Yield
Investment Highlights
- Well established healthcare business located in hospital and medical district and supports multiple counties
- 95 KW photovoltaic system installed in 2017
- High visibility frontage location
- 9.5 years remaining on triple net lease
Executive Summary
Great commercial investment property located within Silver City’s hospital/medical district on the corner of Highway 15 and 32nd Street. This commercial building currently functions as a medical clinic/urgent care center supporting Silver City and surrounding communities. Constructed in 1985 as medical offices and clinic spaces there are more than 25 rooms and 9 bathrooms. There are 12 covered, 35 open and ADA designated paved parking spaces. A 95 KW photovoltaic inter-tie grid solar system was installed in 2017. A separate 2,000 sf building functions as an IT/training/meeting facility, plus there is a 1,200 sf storage unit. Tenant is a well established healthcare organization. Triple net lease expires in 12/31/2033. Tenant pays all taxes, insurance, and non-structural repairs. Annual rent income for 2024 (NOI) is $307,920. Rent escalation clause is 2.5%. Annual rent projection for 2033 is $384,550.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
11,800 SF
Building Class
C
Year Built
1985
Price
£3,220,474
Price Per SF
£273
Net Initial Yield
7.50%
NOI
£241,536
Tenancy
Single
Number of Floors
2
Typical Floor Size
5,900 SF
Building FAR
0.12
Land Acres
2.30 AC
Zoning
OM - Commercial
Parking
29 Spaces
Amenities
- Bio-Tech/ Lab Space
- Wheelchair Accessible
- Central Heating
- High Ceilings
- Natural Light
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 3080101150515 | Improvements Assessment | £287,186 (2023) |
| Land Assessment | £17,819 (2023) | Total Assessment | £305,005 (2023) |
PROPERTY TAXES
Parcel Number
3080101150515
Land Assessment
£17,819 (2023)
Improvements Assessment
£287,186 (2023)
Total Assessment
£305,005 (2023)
-
Cecilia Mcnicoll -
Century 21 Hacienda Realty
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1600 E 32nd St
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