Restaurant Space with
For Sale
$1,200,000
2350 Main St NE, Los Lunas, NM 87031
C-1 zoning supports varied commercial uses, including a drive-through configuration.
Property Size6,316 SF
Price / SF$189.99
Days on Market175
Property Features for 2350 Main St NE
General Information
Standard status
Active
Size
6,316 SF
Property subtype
Retail
Zoning
C-1
Listing Agency:
NAI SunVista
(505) 290-7413
Listed By:
Genieve Posen · License #NM53880
(505) 290-7413
Source:
Carnm.resimplifi
Added: Mar 9
Changed: Aug 29
Last Checked: Aug 29 at 7:52PM
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 NAI SunVista
Investment Insights
Based on property information with market context.
This restaurant property is located at 2350 Main St NE in Los Lunas, with C-1 zoning that supports a broad range of commercial uses, including drive-through operations. The space includes restaurant infrastructure, while select furniture, fixtures, and equipment may be determined separately.
The property fronts a retail corridor with reported exposure to 27,700 vehicles daily and access to major thoroughfares. The surrounding commercial setting includes Albertson’s, Starbucks, Smith’s, and Ross, providing a context of established national retail and food-service brands.
The property fronts a retail corridor with reported exposure to 27,700 vehicles daily and access to major thoroughfares. The surrounding commercial setting includes Albertson’s, Starbucks, Smith’s, and Ross, providing a context of established national retail and food-service brands.
Key Highlights
- 27,700 vehicles daily reported along the retail corridor
- C‑1 zoning supports a wide range of commercial uses
- Drive‑through use is supported by the zoning
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
$61,122
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
5.09%
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%
$1,222,440
$1.2M
Cap Rate 7%
$873,171
$873.2K
Cap Rate 9%
$679,133
$679.1K
Market Conditions
NOI Build-Up for 6,316 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
$87.2K $13.80/SF
− Vacancy
−$5.7K −$0.90/SF
EGI
$81.5K $12.90/SF
− OpEx
−$20.4K −$3.23/SF
NOI
$61.1K $9.68/SF
Area
Valencia County, NM
Vacancy
6.50%
Lease Rate
$13.80 /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%
$1,222,440
Cap Rate 7%
$873,171
Cap Rate 9%
$679,133
Alternative Uses
Best Use
Specialty Retail
$873.2K
$764.0K – $1.02M
NOI $61,122 @ 7.0% cap · market cap 5.09%
Second Best
Retail
$771.2K
$674.8K – $899.7K
NOI $53,983 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,420 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
254k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 32%
Dining 31%
Apparel 17%
Shops & Services 14%
Albertsons
Groceries
46,589 visits/mo
0.1 miles
Smith's
Groceries
34,578 visits/mo
0.3 miles
Ross Dress for Less
Apparel
32,365 visits/mo
0.1 miles
Dion's Pizza
Dining
21,385 visits/mo
0.4 miles
Dollar Tree
Shops & Services
15,679 visits/mo
0.1 miles
Demographics for 87031, NM
45,208
Population
16,917
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
255.5 sq mi
ZIP Area
177
Density / Sq Mi
$61,947
Median Household Income
$34,167
Median Earnings
$1,083
Median Rent
$206,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- China Super Buffet — 2510 Main St NE c, Los Lunas, NM 87031
Frequently Asked Questions
What type of property is this?
Conventional restaurant - C-1 zoning supports varied commercial uses, including a drive-through configuration.
Where is this conventional restaurant located?
The property is located at 2350 Main St NE Los Lunas, NM.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 27,700 vehicles daily reported along the retail corridor; C‑1 zoning supports a wide range of commercial uses; Drive‑through use is supported by the zoning
