Building Details

Buildings 1

Building Size 3,200 SF

Listing Agency: Gerald Chavez Realty Inc

Listed By: Clarissa Chavez-Rivera · License #11406 Show Phone

Source: Thesouthwestlife

Added: Aug 17 Changed: Oct 13 Last Checked: Oct 7 at 3:24PM

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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 Gerald Chavez Realty Inc

Investment Insights

Based on property information with market context.

This 3, 200 SF flex property occupies approximately 0.65 acre at a corner location along Highway 314. The building includes a large open interior, kitchen, ADA-compliant bathrooms, and HVAC combo units. Additional improvements include an enclosed patio measuring 16'9 X 21'6 and a 16'10 X 23 storage area. The site has security fencing, city sewer, and ample parking.

The property is positioned on highway frontage in Belen, New Mexico, with access from 19586 Highway 314. Zoned I-2 for light industrial uses, the building previously operated as an event center and offers a flexible configuration for commercial occupancy.

Key Highlights

• 3, 200 SF flex building on approximately 0.65 acre
• Highway frontage at a corner‑lot location along Highway 314
• I‑2 zoning for light industrial uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,304

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$566,080 $566.1K

Cap Rate 7%

$404,343 $404.3K

Cap Rate 9%

$314,489 $314.5K

Market Conditions

NOI Build-Up for 3,217 SF

Gross rent

$46.3K $14.40/SF

− Vacancy

−$2.8K −$0.86/SF

EGI

$43.5K $13.54/SF

− OpEx

−$15.2K −$4.74/SF

NOI

$28.3K $8.80/SF

Area

Valencia County, NM

Vacancy

6.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$566,080

Cap Rate 7%

$404,343

Cap Rate 9%

$314,489

Alternative Uses

Best Use

Flex RnD

$404.3K

$353.8K – $471.7K (±1% cap)

NOI $28,304 @ 7.0% cap · market cap 6.90%

Second Best

Industrial

$275.1K

$240.7K – $320.9K (±1% cap)

NOI $19,254 @ 7.0% cap · market cap 4.70%

Theoretical Best

Office A

$665.2K

$582.1K – $776.1K (±1% cap)

NOI $46,564 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Building Supply Storage Facility Garden Center Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

28

Businesses Nearby

Well-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - I-2-zoned property with highway exposure, fenced parking, and an adaptable commercial layout.

Where is this flex space located?

The property is located at 19586 Highway 314 Belen, NM.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: 3, 200 SF flex building on approximately 0.65 acre; Highway frontage at a corner‑lot location along Highway 314; I‑2 zoning for light industrial uses