Convenience Store with Drive-Thru
For Sale
$275,000
600 E Reinken Ave, Belen, NM 87002
Vacant commercial-zoned property on main street frontage with multiple drive-thru access points.
Property Size2,304 SF
Price / SF$119.36
Days on Market83
Property Features for 600 E Reinken Ave
General Information
Standard status
Active
Size
2,304 SF
Zoning
Commercial
Listing Agency:
Regal Real Estate Experts
Listed By:
Leonel Munoz · License #REC20220835
(505) 301-1292
Source:
Thesouthwestlife
Added: Jul 17
Changed: Sep 23
Last Checked: Oct 7 at 1:08PM
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 Regal Real Estate Experts
Investment Insights
Based on property information with market context.
This vacant commercial-zoned property at 600 E Reinken Ave in Belen, NM features main street frontage and multiple drive-thru access points. The site is described as having housed a combined bar, gas station, and convenience store operation in the past, known as “The Party Dolls,” which was veteran-owned.
The property is positioned along E Reinken Ave and is also described as fronting Reinkend Ave, Jarales Rd, and Caldwell Ave. Surrounding businesses referenced in the remarks include an Ace Hardware store to the west and a Circle K across the street, with Circle T Burgers nearby and a large shopping center to the east.
The seller notes that possible REC may be available with a sizable down payment, and buyers are encouraged to review financing and program details.
The property is positioned along E Reinken Ave and is also described as fronting Reinkend Ave, Jarales Rd, and Caldwell Ave. Surrounding businesses referenced in the remarks include an Ace Hardware store to the west and a Circle K across the street, with Circle T Burgers nearby and a large shopping center to the east.
The seller notes that possible REC may be available with a sizable down payment, and buyers are encouraged to review financing and program details.
Key Highlights
- Commercial‑zoned vacant property with main street frontage on Reinkend Ave, Jarales Rd, and Caldwell Ave in Belen.
- Multiple drive‑thru access points available.
- Located near established businesses including an Ace Hardware to the west and a Circle K across the street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,296
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,920
$445.9K
Cap Rate 7%
$318,514
$318.5K
Cap Rate 9%
$247,733
$247.7K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$31.8K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$29.7K $12.90/SF
− OpEx
−$7.4K −$3.23/SF
NOI
$22.3K $9.68/SF
Area
Valencia County, NM
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,920
Cap Rate 7%
$318,514
Cap Rate 9%
$247,733
Alternative Uses
Best Use
Specialty Retail
$318.5K
$278.7K – $371.6K
NOI $22,296 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$281.3K
$246.2K – $328.2K
NOI $19,692 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$476.4K
$416.9K – $555.8K
NOI $33,349 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 87002, NM
21,225
Population
9,210
Households
2.3
Avg Household Size
43
Median Age
19%
College-Educated
84%
High-School Grad
598.3 sq mi
ZIP Area
35
Density / Sq Mi
$51,537
Median Household Income
$30,896
Median Earnings
$859
Median Rent
$183,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Gas station - Vacant commercial-zoned property on main street frontage with multiple drive-thru access points.
Where is this gas station located?
The property is located at 600 E Reinken Ave Belen, NM.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Commercial‑zoned vacant property with main street frontage on Reinkend Ave, Jarales Rd, and Caldwell Ave in Belen.; Multiple drive‑thru access points available.; Located near established businesses including an Ace Hardware to the west and a Circle K across the street.
