Multi-Site Car Wash
For Sale
$420,000
1945 W BROADWAY Boulevard, Bloomfield, NM 87413
COMMERCIAL - Bloomfield, NM
Property Size2,835 SF
Lot Size1.78 Acres
Price / SF$148.15
Days on Market562
Property Features for 1945 W BROADWAY Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Subdivision
MIHELICH LOT SPLIT
Directions
On Broadway in Bloomfield
Standard status
Active
Size
2,835 SF
Lot size
1.78 Acres
Taxes and HOA fees
Tax Description
MIHELICH LOT SPLIT SUBDIVISION LOT 2 BK.1600 PG.698 LESS .17 AC TO HWY IN B.1568 P.898
Tax Annual Amount
4877
Legal Description
MIHELICH LOT SPLIT SUBDIVISION LOT 2 BK.1600 PG.698 LESS .17 AC TO HWY IN B.1568 P.898
Building Details
Floors in Building
1
Listing Agency:
RE/MAX of Farmington · RE/MAX International
(505) 327-4777
Listed By:
Sam Todd · License #REC20230229
(505) 327-4777
Added: Jan 27, 2025
Changed: Aug 4
Last Checked: Aug 12 at 1:06PM
MLS# 25-114
Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Bloomfield commercial portfolio spans five parcels with multiple operating components, including a truck wash, de-mudding wash, two car washes, a 108-unit mini-storage facility, a manufactured home, and a large shop. The offering includes 1.78 acres and 2,835 square feet as reported for the property record.
The parcels are located at 1600 W Broadway, 1945 W Broadway, 101 Ruth, 1019 W Broadway, and 912 N 1st in Bloomfield, New Mexico. Each parcel is listed separately, with the transactions contingent on the others. Reported cap rates range from 5.7% to 10.88% for the individual parcels, with a combined cap rate of 6.18% for the five-property offering.
The parcels are located at 1600 W Broadway, 1945 W Broadway, 101 Ruth, 1019 W Broadway, and 912 N 1st in Bloomfield, New Mexico. Each parcel is listed separately, with the transactions contingent on the others. Reported cap rates range from 5.7% to 10.88% for the individual parcels, with a combined cap rate of 6.18% for the five-property offering.
Key Highlights
- Five‑parcel offering in Bloomfield, NM
- Includes a truck wash, de‑mudding wash, and two car washes
- 108‑unit mini‑storage facility included
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
$29,406
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
7.00%
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%
$588,120
$588.1K
Cap Rate 7%
$420,086
$420.1K
Cap Rate 9%
$326,733
$326.7K
Market Conditions
NOI Build-Up for 2,835 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
$41.8K $14.76/SF
− Vacancy
−$2.6K −$0.93/SF
EGI
$39.2K $13.83/SF
− OpEx
−$9.8K −$3.46/SF
NOI
$29.4K $10.37/SF
Area
San Juan County, NM
Vacancy
6.30%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
25.00%
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%
$588,120
Cap Rate 7%
$420,086
Cap Rate 9%
$326,733
Alternative Uses
Best Use
Specialty Retail
$420.1K
$367.6K – $490.1K
NOI $29,406 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$400.5K
$350.4K – $467.2K
NOI $28,032 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 87413, NM
14,652
Population
5,764
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
83%
High-School Grad
600.8 sq mi
ZIP Area
24
Density / Sq Mi
$51,234
Median Household Income
$34,783
Median Earnings
$898
Median Rent
$176,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Five-parcel commercial offering combines vehicle-wash operations with storage, residential, and shop improvements.
Where is this car wash located?
The property is located at 1945 W BROADWAY Boulevard Bloomfield, NM.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Five‑parcel offering in Bloomfield, NM; Includes a truck wash, de‑mudding wash, and two car washes; 108‑unit mini‑storage facility included
