Multi-Tenant Storefront
For Sale
Contact for pricing
118-120 CHACO Street, Aztec, NM 87410
Two-sided commercial building with an unfinished basement and access to nearby surface parking.
Property Size6,405 SF
Price / SF$120
Days on Market198
Property Features for 118-120 CHACO Street
General Information
Standard status
Active
Size
6,405 SF
Property subtype
Land
Building Details
Buildings
1
Building Size
6,405 SF
Listing Agency:
Century21 SoWesCo Realty
(505) 325-2100
Listed By:
Gordon Crane · License #NM
Source:
Crexi
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 9:33AM
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 Century21 SoWesCo Realty
Investment Insights
Based on property information with market context.
This storefront property offers approximately 6,405 square feet across two connected sides, including an unfinished basement. The west portion contains approximately 4,690 square feet and formerly served as a bank, while the east portion provides approximately 1,715 square feet. The layout supports occupancy by multiple businesses or a single larger company.
Street parking is available around the property, with a large parking lot positioned south of the building. The address is included in the Aztec Downtown Metropolitan Redevelopment Area Master Plan, providing a defined planning context for the property.
Street parking is available around the property, with a large parking lot positioned south of the building. The address is included in the Aztec Downtown Metropolitan Redevelopment Area Master Plan, providing a defined planning context for the property.
Key Highlights
- Approximately 6,405 square feet, including an unfinished basement
- West side includes approximately 4,690 square feet and a former bank layout
- East side provides approximately 1,715 square feet
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
$63,331
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
8.17%
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%
$1,266,620
$1.3M
Cap Rate 7%
$904,729
$904.7K
Cap Rate 9%
$703,678
$703.7K
Market Conditions
NOI Build-Up for 6,405 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
$94.5K $14.76/SF
− Vacancy
−$4.1K −$0.63/SF
EGI
$90.5K $14.13/SF
− OpEx
−$27.1K −$4.24/SF
NOI
$63.3K $9.89/SF
Area
San Juan County, NM
Vacancy
4.30%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
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%
$1,266,620
Cap Rate 7%
$904,729
Cap Rate 9%
$703,678
Alternative Uses
Best Use
Retail
$904.7K
$791.6K – $1.06M
NOI $63,331 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,751 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
92k
Monthly Visits Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- Urban Rebel Designs — 600 ne aztec blvd, aztec, nm 87410
Frequently Asked Questions
What type of property is this?
Storefront property - Two-sided commercial building with an unfinished basement and access to nearby surface parking.
Where is this storefront property located?
The property is located at 118-120 CHACO Street Aztec, NM.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Approximately 6,405 square feet, including an unfinished basement; West side includes approximately 4,690 square feet and a former bank layout; East side provides approximately 1,715 square feet
