Mixed-Use Corner
301 E Reinken Avenue, Belen, NM 87002
For Sale
$340,000
C-1 zoning accompanies a heated building with refrigerated air and an electrified metal carport with storage.
Property Size2,179 SF
Price / SF$156.03
Days on Market789
Property Features for 301 E Reinken Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Automotive Uses
Real Estate Included
Taxes and HOA fees
Annual Taxes
Amenities
refrigerated air
heating
metal carport
Building Details
Building Size
Buildings
Stories
Listing Agency:
Real Broker, LLC
(505) 866-7653
Listed By:
The Rojas Team
(505) 818-8871
Source:
Goldenshieldsrealty
Added: Sep 13, 2024
Changed: Nov 9
Last Checked: Nov 10 at 2:05PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 2,179-square-foot building with heating and refrigerated air. A metal carport provides storage and electricity. The property is zoned C-1, and the listing identifies possible uses including a clinic, restaurant, bank, pharmacy, school, and veterinary services; buyers should verify permitted uses with the City of Belen.
The site occupies a corner on E Reinken Avenue. The railroad station, parks, downtown area, and I-25 are described as minutes away. Other outbuildings do not convey.
The site occupies a corner on E Reinken Avenue. The railroad station, parks, downtown area, and I-25 are described as minutes away. Other outbuildings do not convey.
Key Highlights
- 2,179‑square‑foot building with heating and refrigerated air
- C‑1 zoning; verify permitted uses with the City of Belen
- Metal carport includes storage and electricity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,239
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,780
$504.8K
Cap Rate 7%
$360,557
$360.6K
Cap Rate 9%
$280,433
$280.4K
Market Conditions
NOI Build-Up for 2,179 SF
Gross rent
$43.1K $19.80/SF
− Vacancy
−$9.5K −$4.36/SF
EGI
$33.7K $15.44/SF
− OpEx
−$8.4K −$3.86/SF
NOI
$25.2K $11.58/SF
Area
Valencia County, NM
Vacancy
22.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,780
Cap Rate 7%
$360,557
Cap Rate 9%
$280,433
Alternative Uses
Best Use
Office B
$360.6K
$315.5K – $420.7K
NOI $25,239 @ 7.0% cap · market cap 7.42%
Second Best
Mixed Use
$294.2K
$257.4K – $343.2K
NOI $20,592 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$511.5K
$447.5K – $596.7K
NOI $35,802 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-1 zoning accompanies a heated building with refrigerated air and an electrified metal carport with storage.
Where is this mixed-use property located?
The property is located at 301 E Reinken Avenue Belen, NM.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,179‑square‑foot building with heating and refrigerated air; C‑1 zoning; verify permitted uses with the City of Belen; Metal carport includes storage and electricity
