Multi-Site Car Wash
For Sale
$420,000
1945 W BROADWAY Boulevard, Bloomfield, NM 87413
Commercial Sale, Bloomfield, NM
Property Size2,835 SF
Lot Size1.78 Acres
Price / SF$148.15
Days on Market594
Property Features for 1945 W BROADWAY Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Subdivision
MIHELICH LOT SPLIT
Directions
On Broadway in Bloomfield
Standard status
Active
Size
2,835 SF
Lot size
1.78 Acres
Taxes and HOA fees
Tax Description
MIHELICH LOT SPLIT SUBDIVISION LOT 2 BK.1600 PG.698 LESS .17 AC TO HWY IN B.1568 P.898
Tax Annual Amount
4877
Legal Description
MIHELICH LOT SPLIT SUBDIVISION LOT 2 BK.1600 PG.698 LESS .17 AC TO HWY IN B.1568 P.898
Building Details
Floors in Building
1
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 13 at 9:06AM
MLS# 25-114
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 a 108-unit mini-storage facility, a manufactured home, and a large shop. The wash component includes a truck wash, a de-mudding wash, and two additional car washes. The property record identifies 1.78 acres and 2,835 square feet, along with locations at 1600 W Broadway, 1945 W Broadway, 101 Ruth, 1019 W Broadway, and 912 N 1st in Bloomfield, New Mexico.
Each parcel is listed separately, but the transactions are contingent on the other parcels being included. The combined offering carries a 6.18% cap rate, while individual cap rates range from 5.7% to 10.88%.
Each parcel is listed separately, but the transactions are contingent on the other parcels being included. The combined offering carries a 6.18% cap rate, while individual cap rates range from 5.7% to 10.88%.
Key Highlights
- Four wash operations include a truck wash, de‑mudding wash, and two car washes
- 108‑unit mini‑storage facility included in the five‑parcel offering
- Additional improvements include a manufactured home and a large shop
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
$29,406
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
7.00%
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%
$588,120
$588.1K
Cap Rate 7%
$420,086
$420.1K
Cap Rate 9%
$326,733
$326.7K
Market Conditions
NOI Build-Up for 2,835 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
$41.8K $14.76/SF
− Vacancy
−$2.6K −$0.93/SF
EGI
$39.2K $13.83/SF
− OpEx
−$9.8K −$3.46/SF
NOI
$29.4K $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%
$588,120
Cap Rate 7%
$420,086
Cap Rate 9%
$326,733
Alternative Uses
Best Use
Specialty Retail
$420.1K
$367.6K – $490.1K
NOI $29,406 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$400.5K
$350.4K – $467.2K
NOI $28,032 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Five parcels combine wash facilities, storage units, a manufactured home, and a large shop in Bloomfield.
Where is this car wash located?
The property is located at 1945 W BROADWAY Boulevard Bloomfield, NM.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four wash operations include a truck wash, de‑mudding wash, and two car washes; 108‑unit mini‑storage facility included in the five‑parcel offering; Additional improvements include a manufactured home and a large shop
