Remodeled Commercial Space on Route
For Sale
$215,000
Pending
202 Central Ave, Moriarty, NM 87035
Remodeled commercial space suitable for retail or office use.
Property Size2,190 SF
Lot Size0.24 Acres
Days on Market859
Property Features for 202 Central Ave
General Information
Standard status
Pending
Size
2,190 SF
Lot size
0.24 Acres
Taxes and HOA fees
Annual Taxes
$583
Listing Agency:
United Country Farm & Home
(505) 401-2966
Listed By:
Timothy R Oden · License #51870
(505) 401-2966
Source:
Exprealty
Added: Apr 17, 2024
Changed: Aug 20
Last Checked: Aug 23 at 4:26AM
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 United Country Farm & Home
Investment Insights
Based on property information with market context.
This newly remodeled 2190 square foot commercial space is located on a high-visibility, high-traffic street, specifically Old US Route 66, near downtown Moriarty, New Mexico. The property is suitable for retail or office use. It features three individually metered and accessed suites. Additional property features are detailed in the documents.
Key Highlights
- Newly remodeled 2190 SF commercial space.
- High visibility on high traffic street (Old US Rte 66).
- Near downtown Moriarty.
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
$18,718
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
8.71%
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%
$374,360
$374.4K
Cap Rate 7%
$267,400
$267.4K
Cap Rate 9%
$207,978
$208.0K
Market Conditions
NOI Build-Up for 2,190 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
$28.9K $13.20/SF
− Vacancy
−$2.2K −$0.99/SF
EGI
$26.7K $12.21/SF
− OpEx
−$8.0K −$3.66/SF
NOI
$18.7K $8.55/SF
Area
Torrance County, NM
Vacancy
7.50%
Lease Rate
$13.20 /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%
$374,360
Cap Rate 7%
$267,400
Cap Rate 9%
$207,978
Alternative Uses
Best Use
Office B
$371.7K
$325.2K – $433.6K
NOI $26,017 @ 7.0% cap · market cap 12.10%
Second Best
Retail
$267.4K
$234.0K – $312.0K
NOI $18,718 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$445.2K
$389.6K – $519.4K
NOI $31,164 @ 7.0% cap · market cap 14.49%
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
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 Office 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?
Retail space - Remodeled commercial space suitable for retail or office use.
Where is this retail space located?
The property is located at 202 Central Ave Moriarty, NM.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Newly remodeled 2190 SF commercial space.; High visibility on high traffic street (Old US Rte 66).; Near downtown Moriarty.
