Remodeled Three-Suite
For Sale
$215,000
Pending
202 Rte 66 East, Moriarty, NM 87035
Flexible commercial layout near downtown with separate suite access and individual metering.
Property Size2,190 SF
Days on Market920
Property Features for 202 Rte 66 East
General Information
Standard status
Pending
Size
2,190 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Listing Agency:
United Country Farm & Home
(505) 401-2966
Listed By:
Timothy R Oden · License #51870
Source:
Mynmhomesearch
Added: Feb 21, 2024
Changed: Aug 28
Last Checked: Aug 29 at 10:27AM
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 remodeled storefront property contains 2,190 square feet of commercial space arranged as three suites. Each suite has its own access and is individually metered, creating a clearly separated configuration for retail, office, or similar commercial occupancy.
The property fronts Old US Rte 66 near downtown Moriarty, placing the space along a high-traffic commercial corridor. Its combination of recent remodeling, multiple suites, and independent metering supports a range of retail and office arrangements within one building.
The property fronts Old US Rte 66 near downtown Moriarty, placing the space along a high-traffic commercial corridor. Its combination of recent remodeling, multiple suites, and independent metering supports a range of retail and office arrangements within one building.
Key Highlights
- 2,190 SF of remodeled commercial space
- Three suites with individual access
- Each suite is individually metered
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
Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Well-served
Demand for This Use
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.
Similar Off Market Nearby
- Roping Faith Flowers & Boutique — 805 Central, Moriarty, NM 87035
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout near downtown with separate suite access and individual metering.
Where is this storefront property located?
The property is located at 202 Rte 66 East 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: 2,190 SF of remodeled commercial space; Three suites with individual access; Each suite is individually metered
