1259 Siler Road

Exceptional 7% cap industrial investment opportunity in Santa Fe, New Mexico. Located at 1259 Siler Road, this fully leased, industrial/flex property offers a rare chance to acquire a high-performing asset in one of the city's most established and supply-constrained commercial corridors. The site features 18,200 square feet of functional space, 3,200 square feet of rear storage, and sits on a fully improved one-acre parcel with I-2 zoning, within a federally designated Opportunity Zone. The property is leased to JMT North LLC d.b.a. Johnstone Supply, a nationally recognized HVAC/R distributor with 450+ locations and over $2 billion in annual revenue. Johnstone Supply has occupied the site since 2008, demonstrating strong tenant stability. The lease includes 4% annual rent increases, starting at $252,000, in 2026 and rising to nearly $295,000 by 2030. Year one Cap rate projected at 7.0%. The rear tenant also has a fresh 5 year lease renewal, also with 4% annual rent increases. Santa Fe's industrial market fundamentals are robust, with a vacancy rate of just 1.28% and limited new supply. The building's flexible layout supports both warehouse and office use, appealing to a wide range of tenants. I-2 zoning further expands allowable uses, offering downside protection and adaptability. Its location in an Opportunity Zone also provides qualified investors with potential tax advantages--from capital gains deferral to possible exclusion on appreciation. Backed by a long-term, institutional-grade tenant and strong market dynamics, 1259 Siler Road presents a compelling opportunity for both stable income and long-term value creation. Seller is a NM Real Estate Licensee.

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