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Retail Building Investment Opportunity

2104 Southern Blvd SE, Rio Rancho, NM 87124

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For Sale

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3,342 SF retail building with income and owner-user potential.

Type:Retail, Office

Property size:

3,342 SF

Price / SF:

$223/SF

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.
Strong visibility and access.
Three separate electrical meters, HVAC systems, and exterior entrances.
3,342 SF retail commercial building located at the intersection of Southern and Unser.

We can help!

Contact an agent

Nikki Bronstorp

For Sale

Contact for pricing

3,342 SF retail building with income and owner-user potential.

Type:Retail, Office

Property size:

3,342 SF

Price / SF:

$223/SF

Added:: Mar 18, 2026
Days on Market:: 101
Last Refresh:: Mar 20 at 12:18 am

Property Features for 2104 Southern Blvd SE

General Information

Standard status: Active
Size: 3,342 SF
Property subtype: Retail, Office

We can help!

Contact an agent

Nikki Bronstorp

Listing office Coldwell Banker Legacy Paseo Del Norte

Listing date Mar 18, 2026

Source Crexi

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

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.
Strong visibility and access.
Three separate electrical meters, HVAC systems, and exterior entrances.
3,342 SF retail commercial building located at the intersection of Southern and Unser.

Overview

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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$70.2k	$21.00
− Vacancy	−$11.6k	−$3.47
EGI	$58.6k	$17.54
− OpEx	−$14.7k	−$4.38
NOI	$44.0k	$13.15

3,342 SF · lease $21.00/SF/yr · vacancy 16.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$627.9K

$549.4K – $732.5K (±1% cap)

NOI $43,951 @ 7.0% cap · market cap 5.89%

Second Best

Retail

$588.1K

$514.6K – $686.1K (±1% cap)

NOI $41,165 @ 7.0% cap · market cap 5.51%

Theoretical Best

Office A

$827.7K

$724.3K – $965.7K (±1% cap)

NOI $57,942 @ 7.0% cap · market cap 7.76%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Rio Rancho
County: Sandoval
State: New Mexico
Longitude: -106.6943378
Latitude: 35.2412121

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For sale
Retail space
NM
Rio Rancho
87124
2104 Southern Blvd SE

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.