C-3 Zoned Restaurant
For Sale
$255,000
2350 State Highway 47, Belen, NM 87002
Restaurant building on a nearly half-acre lot with C-3 zoning and high traffic exposure on a busy Rio Communities/Belen corridor.
Property Size800 SF
Lot Size0.48 Acres
Price / SF$318.75
Days on Market96
Property Features for 2350 State Highway 47
General Information
Standard status
Active
Size
800 SF
Lot size
0.48 Acres
Zoning
C-3
Additional Details
Business Included
Yes
Traffic Count
15,000 vehicles/day
Listing Agency:
Coba Investment Company
(505) 480-1602
Listed By:
Sonya M Sanchez
(505) 610-1294
Source:
Dukecityrealty
Added: Jun 7
Changed: Sep 8
Last Checked: Sep 9 at 10:30AM
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 Coba Investment Company
Investment Insights
Based on property information with market context.
This for-sale restaurant property includes an approximately 800-square-foot building on a 0.48+/- acre lot. Public remarks indicate the site was previously operated as a hamburger concept, and it is being marketed for a new food-and-restaurant use. The zoning is C-3.
The location is described as being across from a new Maverick being built in Rio Communities and next door to the old Allsup’s, placing the property within a retail-oriented pocket. The property is also described as having high traffic on a busy side of Rio Communities and Belen in Valencia County.
For prospective tenants or buyers, the C-3 zoning and existing restaurant building make this a practical fit for operators looking for a flexible food concept in an established, high-traffic area. The site’s size also supports creative food-program formats as described in the remarks, including the ability to accommodate a small food-truck setup. Owner-finance options are noted as available by the seller.
The location is described as being across from a new Maverick being built in Rio Communities and next door to the old Allsup’s, placing the property within a retail-oriented pocket. The property is also described as having high traffic on a busy side of Rio Communities and Belen in Valencia County.
For prospective tenants or buyers, the C-3 zoning and existing restaurant building make this a practical fit for operators looking for a flexible food concept in an established, high-traffic area. The site’s size also supports creative food-program formats as described in the remarks, including the ability to accommodate a small food-truck setup. Owner-finance options are noted as available by the seller.
Key Highlights
- C‑3 zoned restaurant building on a 0.48+/- acre lot
- 800 sq ft +/- building previously used as a hamburger hot spot
- Located next door to the OLD Allsup's in the Rio Communities/Belen corridor
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
$7,742
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
3.04%
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%
$154,840
$154.8K
Cap Rate 7%
$110,600
$110.6K
Cap Rate 9%
$86,022
$86.0K
Market Conditions
NOI Build-Up for 800 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
$11.0K $13.80/SF
− Vacancy
−$718 −$0.90/SF
EGI
$10.3K $12.90/SF
− OpEx
−$2.6K −$3.23/SF
NOI
$7.7K $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%
$154,840
Cap Rate 7%
$110,600
Cap Rate 9%
$86,022
Alternative Uses
Best Use
Specialty Retail
$110.6K
$96.8K – $129.0K
NOI $7,742 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$165.4K
$144.8K – $193.0K
NOI $11,580 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
77
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building on a nearly half-acre lot with C-3 zoning and high traffic exposure on a busy Rio Communities/Belen corridor.
Where is this conventional restaurant located?
The property is located at 2350 State Highway 47 Belen, NM.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: C‑3 zoned restaurant building on a 0.48+/- acre lot; 800 sq ft +/- building previously used as a hamburger hot spot; Located next door to the OLD Allsup's in the Rio Communities/Belen corridor
