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    304 N Chicago Ave Portales, NM 88130

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    For Sale
    $399,000

    Well-positioned drive-in restaurant with infrastructure ready for occupancy.

    Property size:
    1,300 SF
    Lot size:
    0.41 Acres

    Property Features for 304 N Chicago Ave

    General Information

    Size
    1,300 SF
    Lot size
    0.41 Acres

    Source: NAI SunVista - Albuquerque Agent John Algermissen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Former Sonic Drive-In For Sale

    This property is a former Sonic location situated on the main thoroughfare in Portales. The 1,300 square-foot building is positioned along the primary retail corridor, offering high visibility to both north and southbound traffic. The location benefits from a traffic count of 9,500 cars per day and full access from multiple directions. It features 27 drive-in order stalls and large pylon signage. The hard-corner lot is adjacent to numerous schools and businesses. The property has drive-thru potential, with infrastructure ready for occupancy. The previous Sonic location was a top-performing site, but Sonic is relocating to a larger site.
    Insight Report Location Intelligence

    Current Use by Public Records

    Sonic Drive-In Fast Food Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portales
    County
    Roosevelt
    State
    New Mexico
    Longitude
    -103.331216
    Latitude
    34.1908

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    FAQs

    What type of property is this?
    Drive through restaurant - Well-positioned drive-in restaurant with infrastructure ready for occupancy.
    Where is this drive through restaurant located?
    The property is located at 304 N Chicago Ave Portales, NM.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Top-performing former Sonic location with infrastructure ready for occupancy.; - Located along the primary retail corridor in Portales.; - High-demand drive-in with **27 drive-in order stalls**.
    (505) 264-7242
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    304 N Chicago Ave Portales, NM 88130
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    Portales, NM 88130
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    304 N Chicago Ave Portales, NM 88130
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