Moriarty Commercial Property For
For Sale
$595,000
111 N CORVIN Court, Moriarty, NM 87035
Two buildings totaling 5,550 SF on 2.41 acres.
Property Size5,550 SF
Lot Size2.41 Acres
Price / SF$107.21
Days on Market664
Property Features for 111 N CORVIN Court
General Information
Standard status
Active
Size
5,550 SF
Lot size
2.41 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$1,315
Listing Agency:
Realty One of New Mexico
(505) 250-5799
Listed By:
Jeanette Raver · License #14502
(505) 250-5799
Source:
Exitrealty
Added: Oct 18, 2024
Changed: Aug 8
Last Checked: Aug 12 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One of New Mexico
Investment Insights
Based on property information with market context.
This property in Moriarty features two buildings totaling 5,550 square feet. Situated on 2.41 acres, the location offers proximity to I-40. Building 1 provides 3,750 square feet of space and is equipped with 220 AMP, Three Phase Service, two half baths, washer and dryer hookups, and electric heat in the office and bathrooms. The main area is heated by propane infrared heaters. An upstairs area could serve as an office or living space. Building 2 offers 1,800 square feet and currently has no power. A leased propane tank is present on the property. Both buildings are insulated and suitable for various uses, including auto/mechanic shops, storage facilities, workshops, and retail spaces. The property has a well share agreement with the adjacent property to the East, which is also available for sale, presenting a potential package deal opportunity. Zoning is to be verified. The property is suitable for auto/mechanic, storage, workshop, and retail purposes.
Key Highlights
- Two buildings totaling 5550 sqft on 2.41 acres.
- Building 1 features 3750 sqft with 220 AMP, Three Phase Service.
- Versatile buildings suitable for auto/mechanic, storage, workshop, retail, etc.
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
$40,693
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
6.84%
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%
$813,860
$813.9K
Cap Rate 7%
$581,329
$581.3K
Cap Rate 9%
$452,144
$452.1K
Market Conditions
NOI Build-Up for 5,550 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
$66.6K $12.00/SF
− Vacancy
−$4.0K −$0.72/SF
EGI
$62.6K $11.28/SF
− OpEx
−$21.9K −$3.95/SF
NOI
$40.7K $7.33/SF
Area
Torrance County, NM
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$813,860
Cap Rate 7%
$581,329
Cap Rate 9%
$452,144
Alternative Uses
Best Use
Flex RnD
$581.3K
$508.7K – $678.2K
NOI $40,693 @ 7.0% cap · market cap 6.84%
Second Best
Warehouse
$540.6K
$473.1K – $630.7K
NOI $37,844 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$1.13M
$987.2K – $1.32M
NOI $78,977 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87035, NM
7,285
Population
2,884
Households
2.5
Avg Household Size
43
Median Age
9%
College-Educated
82%
High-School Grad
342.7 sq mi
ZIP Area
21
Density / Sq Mi
$40,688
Median Household Income
$27,428
Median Earnings
$797
Median Rent
$147,600
Median Home Value
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?
Flex space - Two buildings totaling 5,550 SF on 2.41 acres.
Where is this flex space located?
The property is located at 111 N CORVIN Court Moriarty, NM.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two buildings totaling 5550 sqft on 2.41 acres.; Building 1 features 3750 sqft with **220 AMP, Three Phase Service.**; Versatile buildings suitable for auto/mechanic, storage, workshop, retail, etc.
