1398 Weimer Rd - Medical FOR SALE


Taos, NM 87571
$4,300,000 USD
404-840-9303
1398 Weimer Rd, Taos, NM for Sale
$4,300,000 USD
Medical - FOR SALE
1/7
null | 7.85% Cap Rate

1398 Weimer Rd
Taos, NM 87571


HIGHLIGHTS

  • 100% leased multi-tenant medical oce building directly across the street from Holy Cross Hospital.
  • Stable, long-term tenancy with the average tenant occupying the subject property for an average of 17.6 years.
  • Property has remained 100% occupied for 15+ years.

OVERVIEW

Highgate Partners’ Healthcare Investment Sales Team, as the exclusive listing broker, is proud to present the opportunity to acquire Holy Cross Medical Arts Plaza, a two-story, ±18,036 square foot multi-tenant medical office building located directly across the street from Holy Cross Medical Center hospital in Taos, New Mexico. This building offers a strong WALT (3.8 years) and is anchored by Holy Cross Medical Center/Taos Health System, Inc., who occupies 12,036 square feet or approximately 67% of the asset. Holy Cross Medical Center and Hanger Prosthetics have both been renewed for 5+ years. The 100% leased asset is located in north-central New Mexico in the upscale resort/destination city of Taos. Taos is conveniently located just 45 miles south of the Colorado border and less than 70 miles from Santa Fe. The 29-bed hospital operated by Taos Health System, Inc., is the central hub for health care in north-central New Mexico and southern Colorado. The hospital and clinics are home to over 80 physicians, covering a variety of continuously expanding specialties including internal medicine, wound care, dermatology, OB/GYN, orthopedics, general surgery, urology, and a fully staffed emergency department. The Holy Cross Medical Center is one of four (4) locations staffed and operated by Taos Health System, Inc. Being only one of two (2) pure multi-tenant medical office buildings serving the North Central New Mexico households, the property boasts of 100% occupancy for the last 15+ years. The barriers to entry on this market are quite strong as well, which only strengthens the commitment to tenants at the subject property. Proximity to campus, tenant credit, barriers to entry, historical occupancy, and a competitive in-place yield, solidify this opportunity to acquire a quality cash-flowing asset with NNN leases and annual escalations.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$235 USD /SF

CAP RATE

7.85%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

129

LAND DETAILS

LAND ACRES

2.15 AC

LAND SF

93,654 SF

ZONING

C-1

APN/PARCEL ID

61968

ASK ABOUT THIS PROPERTY

Andrew MurphyHighgate PartnersMore Info
404-840-9303

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Andrew MurphyHighgate PartnersMore Info
404-840-9303

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.