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Office

Farmington Bureau of Indian Affairs Office

304 N Auburn Ave, Farmington, NM 87401

Listing Price: $1,835,000

Cap Rate
7.80%
Gross SF
10,200
Rentable SF
9,533
Price/Gross SF
$179.90
Lot Size
0.96 acres
Year Built
1955

Investment Overview

Marcus & Millichap is pleased to bring to market a single-tenant government office building occupied by the Bureau of Indian Affairs. The 9,252 rentable square foot building is located on N Auburn Ave in Farmington, New Mexico, and sits on 0.96 acres. BIA has occupied the property continuously for 20+ years, as it's positioned less than 20 miles from the mission-critical Navajo Reservation. The BIA recently extended their commitment to the location with a new 10 year lease renewal (5 years firm). The new lease includes annual CPI adjustments, as well as a 15% bump in Base Rent at Year 6. Priced at a 7.8% Cap Rate, and with a projected 9.3% Year 1 cash-on-cash return, the new lease presents cashflow-minded investors with unmatched stability at an above-market rate. The primary function of the Farmington BIA Office is to support the nearby Navajo Reservation. They assist in a multitude of ways, including providing agricultural subsidies, building infrastructure, and helping out with various agricultural tasks. In addition to serving the needs of the Navajo Reservation on-location, the BIA office also has a public-facing mission, often hosting Tribal Elders to discuss business or address specific concerns of the Tribe. The BIA has also begun to staff in-person employees again, signaling a possible end to Covid protocols.

Investment Highlights

  • Bureau of Indian Affairs (GSA) Recently Signed a 10 Year Lease Renewal, 5 Years Firm
  • Strategically Located Less than 20 Miles From the Mission-Critical Navajo Reservation
  • Projected 9.3% Cash-on-Cash Return
  • Long Term, AA+ Credit Tenant (S&P)

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s) NM: 20675

    New Mexico

Financing By

Office

Farmington Bureau of Indian Affairs Office

Listing Price: $1,835,000

Cap Rate
7.80%
Gross SF
10,200
Rentable SF
9,533
Price/Gross SF
$179.90
Lot Size
0.96 acres
Year Built
1955

Investment Highlights

  • Bureau of Indian Affairs (GSA) Recently Signed a 10 Year Lease Renewal, 5 Years Firm
  • Strategically Located Less than 20 Miles From the Mission-Critical Navajo Reservation
  • Projected 9.3% Cash-on-Cash Return
  • Long Term, AA+ Credit Tenant (S&P)

Investment Overview

Marcus & Millichap is pleased to bring to market a single-tenant government office building occupied by the Bureau of Indian Affairs. The 9,252 rentable square foot building is located on N Auburn Ave in Farmington, New Mexico, and sits on 0.96 acres. BIA has occupied the property continuously for 20+ years, as it's positioned less than 20 miles from the mission-critical Navajo Reservation. The BIA recently extended their commitment to the location with a new 10 year lease renewal (5 years firm). The new lease includes annual CPI adjustments, as well as a 15% bump in Base Rent at Year 6. Priced at a 7.8% Cap Rate, and with a projected 9.3% Year 1 cash-on-cash return, the new lease presents cashflow-minded investors with unmatched stability at an above-market rate. The primary function of the Farmington BIA Office is to support the nearby Navajo Reservation. They assist in a multitude of ways, including providing agricultural subsidies, building infrastructure, and helping out with various agricultural tasks. In addition to serving the needs of the Navajo Reservation on-location, the BIA office also has a public-facing mission, often hosting Tribal Elders to discuss business or address specific concerns of the Tribe. The BIA has also begun to staff in-person employees again, signaling a possible end to Covid protocols.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s): NM: 20675

    New Mexico

Financing By

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