2704 Southern Blvd. SE, Rio Rancho, NM 87124

Building Details

Buildings 2 More

Tenancy Multi More

Parking Ratio 4 per 1,000 SF More

Listing Agency: EPIC REAL ESTATE

Listed By: George Chronis · License NM #16978 Show Phone

Source: Crexi

Added: Sep 29 Changed: Nov 8 Last Checked: Nov 10 at 8:28AM

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Investment Insights

Based on property information with market context.

This retail center at 2704 Southern Blvd. SE in Rio Rancho, New Mexico, comprises two buildings with 13,345 square feet across 14 suites. The property occupies three parcels totaling approximately 1.6 acres, with monument signage and a parking ratio of 4:1,000.

Southern Boulevard carries approximately 25,600 vehicles per day. The center is east of Unser Boulevard, placing its retail frontage along a roadway with substantial reported daily traffic.

Key Highlights

• 14 suites across two retail buildings
• 13,345 square feet on three parcels totaling approximately 1.6 acres
• Monument signage on Southern Blvd. SE, east of Unser Boulevard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$164,378

Cap Rate

8.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,287,560 $3.3M

Cap Rate 7%

$2,348,257 $2.3M

Cap Rate 9%

$1,826,422 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,345 SF

Gross rent

$251.4K $18.84/SF

− Vacancy

−$16.6K −$1.24/SF

EGI

$234.8K $17.60/SF

− OpEx

−$70.4K −$5.28/SF

NOI

$164.4K $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 Rate 5%

$3,287,560

Cap Rate 7%

$2,348,257

Cap Rate 9%

$1,826,422

Alternative Uses

Best Use

Retail

$2.35M

$2.05M – $2.74M (±1% cap)

NOI $164,378 @ 7.0% cap · market cap 8.65%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.31M

$2.89M – $3.86M (±1% cap)

NOI $231,370 @ 7.0% cap · market cap 12.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Strip malls

Suggested Use

Top Pick Law Firm Hair Salon Big Box & Wholesale Store Nail Salon Building Supply Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

25,600 VPD

Traffic count

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

446

Businesses Nearby

55k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 66% Dining 34%

Circle K Shops & Services

14,748 visits/mo 0.2 miles

Mister Car Wash Shops & Services

9,839 visits/mo 0.4 miles

Bank of America Shops & Services

8,892 visits/mo 0.5 miles

Twisters Dining

4,776 visits/mo 0.3 miles

SUBWAY Dining

4,653 visits/mo 0.4 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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - Fourteen tenant spaces are arranged across two buildings on a three-parcel commercial site.

Where is this strip mall located?

The property is located at 2704 Southern Blvd. SE Rio Rancho, NM.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 14 suites across two retail buildings; 13,345 square feet on three parcels totaling approximately 1.6 acres; Monument signage on Southern Blvd. SE, east of Unser Boulevard