Freestanding Flex
For Sale
$480,000
2516 S SE Southern Boulevard, Rio Rancho, NM 87124
C-1 commercial building with a heated shop, customer-facing areas, and a secured yard.
Property Size2,450 SF
Lot Size0.31 Acres
Price / SF$195.92
Days on Market15
Property Features for 2516 S SE Southern Boulevard
General Information
Standard status
Active
Size
2,450 SF
Lot size
0.31 Acres
Property subtype
CommercialSale
Zoning
C-1
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
heated shop area
roll-up doors
secured yard
reception area
signage visibility
yard storage
two bathrooms
Building Details
Buildings
1
Building Size
2,450 SF
Listing Agency:
Berger Briggs RE & Prop Mgmt
(505) 980-6151
Listed By:
Harrison Alley · License #48822
(505) 980-6151
Source:
Dukecityrealty
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 8:58PM
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 Berger Briggs RE & Prop Mgmt
Investment Insights
Based on property information with market context.
Located at 2516 S SE Southern Boulevard in Rio Rancho, this 2,450 SF freestanding flex property occupies approximately 0.31 acres and carries C-1 zoning. The building combines retail and office areas with a heated shop, two roll-up doors, two bathrooms, reception space, and office or treatment rooms.
A large secured, walled yard provides outdoor storage capacity, while on-site parking and building signage visibility support customer-oriented operations. The existing configuration brings together public-facing space and functional shop areas within one property, with additional yard space for storage and business use.
A large secured, walled yard provides outdoor storage capacity, while on-site parking and building signage visibility support customer-oriented operations. The existing configuration brings together public-facing space and functional shop areas within one property, with additional yard space for storage and business use.
Key Highlights
- 2,450 SF freestanding flex building on approximately 0.31 acres
- C‑1 zoning at 2516 S SE Southern Boulevard, Rio Rancho, NM 87124
- Heated shop area with two roll‑up doors
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
$32,221
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
6.71%
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%
$644,420
$644.4K
Cap Rate 7%
$460,300
$460.3K
Cap Rate 9%
$358,011
$358.0K
Market Conditions
NOI Build-Up for 2,450 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
$51.5K $21.00/SF
− Vacancy
−$8.5K −$3.47/SF
EGI
$43.0K $17.54/SF
− OpEx
−$10.7K −$4.38/SF
NOI
$32.2K $13.15/SF
Area
Rio Rancho, NM
Vacancy
16.50%
Lease Rate
$21.00 /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%
$644,420
Cap Rate 7%
$460,300
Cap Rate 9%
$358,011
Alternative Uses
Best Use
Office B
$460.3K
$402.8K – $537.0K
NOI $32,221 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$431.1K
$377.2K – $503.0K
NOI $30,178 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$606.8K
$531.0K – $708.0K
NOI $42,477 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - C-1 commercial building with a heated shop, customer-facing areas, and a secured yard.
Where is this flex space located?
The property is located at 2516 S SE Southern Boulevard Rio Rancho, NM.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,450 SF freestanding flex building on approximately 0.31 acres; C‑1 zoning at 2516 S SE Southern Boulevard, Rio Rancho, NM 87124; Heated shop area with two roll‑up doors
