Multi-Site Car Wash
For Sale
$4,550,000
1600 W BROADWAY Avenue, Bloomfield, NM 87413
Commercial Sale, Bloomfield, NM
Property Size14,203 SF
Lot Size4.86 Acres
Price / SF$320.35
Days on Market584
Property Features for 1600 W BROADWAY Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial, Mixed Use
Directions
On Broadway in Bloomfield
Subdivision
Bloomfield
Standard status
Active
Size
14,203 SF
Lot size
4.86 Acres
Taxes and HOA fees
Tax Description
BEG N 50 FT AND SOUTH 89-40- E 712.6 FT FROM SW CORNER OF SE/4 NW/4 OF SEC 21 29 11, THENCE N 694.3 FT, S89-40E 303.
Tax Annual Amount
51956
Legal Description
BEG N 50 FT AND SOUTH 89-40- E 712.6 FT FROM SW CORNER OF SE/4 NW/4 OF SEC 21 29 11, THENCE N 694.3 FT, S89-40E 303.
Utilities
Cooling system
Evaporative Cooling
Building Details
Floors in Building
2
Listing Agency:
RE/MAX of Farmington · RE/MAX International
(505) 327-4777
Listed By:
Sam Todd · License #REC20230229
(505) 320-9557
Added: Jan 27, 2025
Changed: Aug 19
Last Checked: Sep 3 at 6:06AM
MLS# 25-113
Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-parcel commercial offering combines multiple automotive wash operations with additional income-producing and support improvements. The portfolio includes a truck wash, de-mudding wash, two car washes, a 108-unit mini storage facility, a manufactured home, and a large shop. Collectively, the properties contain 14,203 square feet across 4.86 acres, with evaporative cooling identified as a building feature.
The parcels are situated in Bloomfield, New Mexico, with addresses at 1600 W Broadway, 1945 W Broadway, 101 Ruth, 1019 W Broadway, and 912 N 1st. Each parcel is marketed separately but must be purchased together. Reported cap rates range from 5.7% to 10.88% for the individual properties, with a combined cap rate of 6.18% for the full five-parcel offering.
The parcels are situated in Bloomfield, New Mexico, with addresses at 1600 W Broadway, 1945 W Broadway, 101 Ruth, 1019 W Broadway, and 912 N 1st. Each parcel is marketed separately but must be purchased together. Reported cap rates range from 5.7% to 10.88% for the individual properties, with a combined cap rate of 6.18% for the full five-parcel offering.
Key Highlights
- Five‑parcel offering with truck wash, de‑mudding wash, and two car washes
- Includes a 108‑unit mini storage facility, manufactured home, and large shop
- Combined property size of 14,203 square feet on 4.86 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,322
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,946,440
$2.9M
Cap Rate 7%
$2,104,600
$2.1M
Cap Rate 9%
$1,636,911
$1.6M
Market Conditions
NOI Build-Up for 14,203 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$209.6K $14.76/SF
− Vacancy
−$13.2K −$0.93/SF
EGI
$196.4K $13.83/SF
− OpEx
−$49.1K −$3.46/SF
NOI
$147.3K $10.37/SF
Area
San Juan County, NM
Vacancy
6.30%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,946,440
Cap Rate 7%
$2,104,600
Cap Rate 9%
$1,636,911
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.84M – $2.46M
NOI $147,322 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$2.01M
$1.76M – $2.34M
NOI $140,435 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,674 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 87413, NM
14,652
Population
5,764
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
83%
High-School Grad
600.8 sq mi
ZIP Area
24
Density / Sq Mi
$51,234
Median Household Income
$34,783
Median Earnings
$898
Median Rent
$176,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Portfolio combines wash businesses with mini storage, a manufactured home, and a substantial shop across five parcels.
Where is this car wash located?
The property is located at 1600 W BROADWAY Avenue Bloomfield, NM.
What is the asking price?
The asking price for this property is $4,550,000.
What are key features of this property?
This property features: Five‑parcel offering with truck wash, de‑mudding wash, and two car washes; Includes a 108‑unit mini storage facility, manufactured home, and large shop; Combined property size of 14,203 square feet on 4.86 acres
