Mixed-Use Building with
New
For Sale
$230,000
108 S MAIN Avenue, Aztec, NM 87410
Commercial Sale, Aztec, NM
Property Size2,580 SF
Lot Size0.08 Acres
Price / SF$89.15
Days on Market3
Property Features for 108 S MAIN Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial, Local Neighbor Com, Mixed Use
Subdivision
AZTEC ORIGINAL TOWNSITE
Directions
NM 516 and HWY 550. travel south on 550 towards bloomfield. Next door to a Thai restaurant and an auto repair shop.
Standard status
Active
Size
2,580 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AZTEC ORIGINAL TOWNSITE N 24 FT OF LOT 20 BLOCK 31 BK.1628 PG.448
Tax Annual Amount
2623
Legal Description
AZTEC ORIGINAL TOWNSITE N 24 FT OF LOT 20 BLOCK 31 BK.1628 PG.448
Utilities
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Amenities
full kitchen
bathroom
shower
Building Details
Floors in Building
1
Listing Agency:
R1 New Mexico Farmington
(505) 326-0110
Listed By:
Shelbie Digiacomo · License #REC-2022-0038
(505) 716-1482
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 29 at 6:06AM
MLS# 26-1071
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 historic mixed-use building contains approximately 2,580 square feet and is positioned for a combination of commercial and residential functions. The interior includes a full kitchen, bathroom, and shower, with a layout that places a potential business area toward the front and living quarters at the rear. Natural gas heating and evaporative cooling are in place.
The property fronts S Main Avenue in Aztec and benefits from Main Street exposure. A 2023 daily traffic count of 10,253 provides measurable roadway activity. The building is zoned C-1: Commercial - Limited and lies within the Aztec Metropolitan Redevelopment Area Master Plan, with eligibility limited to pre-qualified buyers.
The property fronts S Main Avenue in Aztec and benefits from Main Street exposure. A 2023 daily traffic count of 10,253 provides measurable roadway activity. The building is zoned C-1: Commercial - Limited and lies within the Aztec Metropolitan Redevelopment Area Master Plan, with eligibility limited to pre-qualified buyers.
Key Highlights
- Approximately 2,580 square feet of mixed‑use building area
- 2023 daily traffic count of 10,253
- C‑1: Commercial - Limited zoning
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
$14,140
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
6.15%
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%
$282,800
$282.8K
Cap Rate 7%
$202,000
$202.0K
Cap Rate 9%
$157,111
$157.1K
Market Conditions
NOI Build-Up for 2,580 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
$24.5K $9.48/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$22.6K $8.77/SF
− OpEx
−$8.5K −$3.29/SF
NOI
$14.1K $5.48/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
37.50%
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%
$282,800
Cap Rate 7%
$202,000
Cap Rate 9%
$157,111
Alternative Uses
Best Use
Retail
$364.4K
$318.9K – $425.2K
NOI $25,510 @ 7.0% cap · market cap 11.09%
Second Best
Mixed Use
$202.0K
$176.8K – $235.7K
NOI $14,140 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$533.7K
$467.0K – $622.7K
NOI $37,361 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10,253 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
92k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Shops & Services 32%
Dining 29%
Safeway
Groceries
35,231 visits/mo
0.2 miles
McDonald's
Dining
22,992 visits/mo
0.2 miles
Speedway
Shops & Services
11,505 visits/mo
0.2 miles
Speedway
Shops & Services
10,563 visits/mo
0.2 miles
SUBWAY
Dining
4,257 visits/mo
0.3 miles
Demographics for 87410, NM
16,064
Population
6,402
Households
2.5
Avg Household Size
40
Median Age
17%
College-Educated
88%
High-School Grad
265.6 sq mi
ZIP Area
60
Density / Sq Mi
$51,283
Median Household Income
$31,436
Median Earnings
$802
Median Rent
$192,600
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - C-1 zoning accompanies front and rear areas with a full kitchen, bathroom, and shower.
Where is this mixed-use property located?
The property is located at 108 S MAIN Avenue Aztec, NM.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Approximately 2,580 square feet of mixed‑use building area; 2023 daily traffic count of 10,253; C‑1: Commercial - Limited zoning
