Five-Parcel Car Wash
For Sale
$850,000
912 N 1ST Street, Bloomfield, NM 87413
Commercial Sale, Bloomfield, NM
Property Size7,542 SF
Lot Size1.07 Acres
Price / SF$112.70
Days on Market594
Property Features for 912 N 1ST Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Directions
From Aztec into Bloomfield, property is on 1st Street on the left.
Subdivision
Bloomfield
Standard status
Active
Size
7,542 SF
Lot size
1.07 Acres
Taxes and HOA fees
Tax Description
BEG AT N90-E 465.80 FT AND E 44.68 FT FROM SW COR 15 2911 THENCE E 239.59 FT, N 216 FT, CURVE TO LEFT 34.79 FT, CURVE
Tax Annual Amount
9739
Legal Description
BEG AT N90-E 465.80 FT AND E 44.68 FT FROM SW COR 15 2911 THENCE E 239.59 FT, N 216 FT, CURVE TO LEFT 34.79 FT, CURVE
Amenities
Truck Wash
De-Mudding Wash
Mini Storage
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 13 at 1:06PM
MLS# 25-115
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 several automotive wash operations with additional income-producing and service-oriented improvements. The properties include a truck wash, a de-mudding wash, two car washes, a 108-unit mini-storage facility, a manufactured home, and a large shop. The combined property size is 7,542 square feet on 1.07 acres.
The parcels are located in Bloomfield, New Mexico, with addresses on W Broadway, N 1st Street, and Ruth. Each parcel is listed separately, with the sale contingent upon the others. Reported cap rates range from 5.7% to 10.88% for the individual properties, while the combined five-parcel offering reflects a 6.18% cap rate.
The parcels are located in Bloomfield, New Mexico, with addresses on W Broadway, N 1st Street, and Ruth. Each parcel is listed separately, with the sale contingent upon the others. Reported cap rates range from 5.7% to 10.88% for the individual properties, while the combined five-parcel offering reflects a 6.18% cap rate.
Key Highlights
- Five‑parcel offering combining truck wash, de‑mudding wash, and two car washes
- 108‑unit mini‑storage facility included
- Large shop and manufactured home included in the assemblage
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
$78,230
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
9.20%
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%
$1,564,600
$1.6M
Cap Rate 7%
$1,117,571
$1.1M
Cap Rate 9%
$869,222
$869.2K
Market Conditions
NOI Build-Up for 7,542 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
$111.3K $14.76/SF
− Vacancy
−$7.0K −$0.93/SF
EGI
$104.3K $13.83/SF
− OpEx
−$26.1K −$3.46/SF
NOI
$78.2K $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%
$1,564,600
Cap Rate 7%
$1,117,571
Cap Rate 9%
$869,222
Alternative Uses
Best Use
Specialty Retail
$1.12M
$977.9K – $1.30M
NOI $78,230 @ 7.0% cap · market cap 9.20%
Second Best
Retail
$1.07M
$932.2K – $1.24M
NOI $74,573 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,216 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
102
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
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Car wash - Offering combines multiple wash operations with storage and ancillary improvements.
Where is this car wash located?
The property is located at 912 N 1ST Street Bloomfield, NM.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Five‑parcel offering combining truck wash, de‑mudding wash, and two car washes; 108‑unit mini‑storage facility included; Large shop and manufactured home included in the assemblage
