Retail Building Investment
For Sale
Contact for pricing
Pending
2104 Southern Blvd SE, Rio Rancho, NM 87124
3,342 SF retail building with income and owner-user potential.
Property Size3,342 SF
Days on Market148
Property Features for 2104 Southern Blvd SE
General Information
Standard status
Pending
Size
3,342 SF
Property subtype
Retail, Office, Mixed Use
Zoning
C-1
Occupancy
50%
Investment Type
Owner/User
Building Details
Year Built
1999
Year Renovated
2011
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Legacy Paseo Del Norte
(505) 209-1246
Listed By:
Nikki Bronstorp · License #NM
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Jul 24 at 4:17PM
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 Coldwell Banker Legacy Paseo Del Norte
Investment Insights
Based on property information with market context.
Located at the intersection of Southern and Unser, this 3,342 square foot retail commercial building presents an investment opportunity. The building features three separate electrical meters, HVAC systems, and exterior entrances. Currently, the space accommodates two tenants, with one unit vacant and the other occupied. This setup is ideal for investors seeking income from multiple tenants or for an owner-user looking to occupy the vacant unit. Suite A is leased to a smoke shop through October 1, 2029, providing stable, long-term income. Suite B is currently vacant, offering lease-up or owner-user potential. The property benefits from strong visibility, easy access, and immediate income. The seller is open to seller financing with 20% down.
Key Highlights
- Stable long‑term income from existing tenant (smoke shop) with lease through October 1, 2029.
- Vacant suite offers immediate lease‑up or owner‑user opportunity.
- Seller financing available with 20% down.
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
$41,165
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
5.51%
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%
$823,300
$823.3K
Cap Rate 7%
$588,071
$588.1K
Cap Rate 9%
$457,389
$457.4K
Market Conditions
NOI Build-Up for 3,342 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
$63.0K $18.84/SF
− Vacancy
−$4.2K −$1.24/SF
EGI
$58.8K $17.60/SF
− OpEx
−$17.6K −$5.28/SF
NOI
$41.2K $12.32/SF
Area
Rio Rancho, NM
Vacancy
6.60%
Lease Rate
$18.84 /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%
$823,300
Cap Rate 7%
$588,071
Cap Rate 9%
$457,389
Alternative Uses
Best Use
Retail
$588.1K
$514.6K – $686.1K
NOI $41,165 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$827.7K
$724.3K – $965.7K
NOI $57,942 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
382k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Superstores 30%
Electronics 4%
Shops & Services 2%
Walmart
Superstores
115,825 visits/mo
0.3 miles
Raising Cane's Chicken Fingers
Dining
48,352 visits/mo
0.5 miles
Chick-fil-A
Dining
40,549 visits/mo
0.5 miles
Starbucks
Dining
19,468 visits/mo
0.3 miles
SONIC Drive In
Dining
18,497 visits/mo
0.3 miles
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3,342 SF retail building with income and owner-user potential.
Where is this retail space located?
The property is located at 2104 Southern Blvd SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $746,460.
What are key features of this property?
This property features: Stable long‑term income from existing tenant (smoke shop) with lease through October 1, 2029.; Vacant suite offers immediate lease‑up or owner‑user opportunity.; Seller financing available with 20% down.
