Listing Agency: Couture Brokerage

Listed By: Toni-Lei Ponic · License #15258 Show Phone

Source: Carnm.resimplifi

Added: Feb 17 Changed: Oct 13 Last Checked: Oct 14 at 7:42PM

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Investment Insights

Based on property information with market context.

This fully leased commercial property contains a 3,400-square-foot building configured for six units, with retail and office space and a drive-through component. The site also includes 10 individual storage units, providing additional on-site storage capacity. Eight designated parking spaces serve the property, which is zoned C-2 and operates under NNN leases.

Located off NM 333 in Edgewood, the property offers access to Interstate 40 for convenient travel to and from the site. The combination of leased commercial space, storage units, parking, and drive-through functionality creates a varied physical configuration within one property.

Key Highlights

• Fully leased 3,400‑square‑foot commercial retail/office building
• Six‑unit configuration with drive‑through component
• 10 individual storage units on‑site

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,818

Cap Rate

9.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$936,360 $936.4K

Cap Rate 7%

$668,829 $668.8K

Cap Rate 9%

$520,200 $520.2K

Market Conditions

NOI Build-Up for 3,400 SF

Gross rent

$73.4K $21.60/SF

− Vacancy

−$11.0K −$3.24/SF

EGI

$62.4K $18.36/SF

− OpEx

−$15.6K −$4.59/SF

NOI

$46.8K $13.77/SF

Area

Santa Fe County, NM

Vacancy

15.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$936,360

Cap Rate 7%

$668,829

Cap Rate 9%

$520,200

Alternative Uses

Best Use

Office B

$668.8K

$585.2K – $780.3K (±1% cap)

NOI $46,818 @ 7.0% cap · market cap 9.00%

Second Best

Retail

$616.0K

$539.0K – $718.6K (±1% cap)

NOI $43,118 @ 7.0% cap · market cap 8.29%

Theoretical Best

Office A

$923.2K

$807.8K – $1.08M (±1% cap)

NOI $64,627 @ 7.0% cap · market cap 12.43%

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

Property Analytics

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Current Use

Route 66 Coffee ... Cafe & Coffee Shop Joseph Campbell Law ... Law Firm Lash Beauty Barn Hair Salon American Dream Realty Loan Service The Water Store General Contractor

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Building Supply Bakery Home Appliance Store Veterinary Clinic Skin Care Clinic

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

Location Intelligence

Trade Area within ½ mile

263

Businesses Nearby

Explore this area Business Placement

Demographics for 87015, NM

12,833

Population

6,593

Households

1.9

Avg Household Size

47

Median Age

34%

College-Educated

93%

High-School Grad

131.6 sq mi

ZIP Area

98

Density / Sq Mi

$72,681

Median Household Income

$48,270

Median Earnings

$891

Median Rent

$263,200

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

NNN property - Fully leased commercial property with drive-through access and additional on-site storage units.

Where is this nnn property located?

The property is located at 3 George Ct Edgewood, NM.

What is the asking price?

The asking price for this property is $520,000.

What are key features of this property?

This property features: Fully leased 3,400‑square‑foot commercial retail/office building; Six‑unit configuration with drive‑through component; 10 individual storage units on‑site