4605 Research Park Cir 15,589 SF 100% Leased Office Building Las Cruces, NM 88001 £1,813,680 (£116.34/SF) 8.16% Net Initial Yield
EXECUTIVE SUMMARY
Two State of New Mexico tenants with long-term leases
Favorable ground lease terms. Initial term expires 7/25/2047, three (3) additional five (5) year options to extend.
Located within NMSU’s 257-acre, Arrowhead Research Park
Direct visual exposure and easy access to Interstate 25 and 10
Access to NMSU resources and strategic partners
Opportunities for business to partner with NMSU in pursuit of grants and contracts
Access to the Arrowhead Technology Incubator and the National Security Technology Incubator
On-site world-class telecommunication network
Favorable ground lease terms. Initial term expires 7/25/2047, three (3) additional five (5) year options to extend.
Located within NMSU’s 257-acre, Arrowhead Research Park
Direct visual exposure and easy access to Interstate 25 and 10
Access to NMSU resources and strategic partners
Opportunities for business to partner with NMSU in pursuit of grants and contracts
Access to the Arrowhead Technology Incubator and the National Security Technology Incubator
On-site world-class telecommunication network
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
15,589 SF
Building Class
B
Year Built
2010
Price
£1,813,680
Price Per SF
£116.34
Net Initial Yield
8.16%
NOI
£148,064
Percent Leased
100%
Number of Floors
1
Typical Floor Size
15,589 SF
Building FAR
0.99
Lot Size
0.36 AC
Opportunity Zone
Yes
Zoning
R1 - Residential Zone
Parking
43 Spaces (2.76 Spaces per 1,000 SF Leased)
1 of 1
PROPERTY TAXES
| Parcel Number | 03-29369 | Improvements Assessment | £482,505 |
| Land Assessment | £0 | Total Assessment | £482,505 |
