Mixed-Use Property with Office and
For Sale
$950,000
455 S Main St, Belen, NM 87002
Two-building commercial asset with office space, restaurant space, and a separate Subway land lease.
Property Size2,985 SF
Price / SF$318.26
Days on Market136
Property Features for 455 S Main St
General Information
Standard status
Active
Size
2,985 SF
Property subtype
Office
Zoning
C-1
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Buildings
2
Tenancy
Multi-Tenant
Listing Agency:
Green Light Real Estate Services, LLC.
Listed By:
Michael Novak
(505) 280-2062
Source:
Carnm.resimplifi
Added: Jun 1
Changed: Oct 2
Last Checked: Oct 12 at 4:35PM
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 Green Light Real Estate Services, LLC.
Investment Insights
Based on property information with market context.
Located at 455 S Main St in Belen, this mixed-use property includes two separate buildings: an office building and a restaurant space. The property also includes a land lease with Subway, adding an additional commercial component to the site. The total property size is 2,985, and the zoning is C-1.
The site is next to a Starbucks, placing the property within an established commercial setting. Its configuration combines office, restaurant, and leased land uses at one address, with the restaurant and office improvements providing distinct building components.
The site is next to a Starbucks, placing the property within an established commercial setting. Its configuration combines office, restaurant, and leased land uses at one address, with the restaurant and office improvements providing distinct building components.
Key Highlights
- Two‑building property with a dedicated office building and restaurant space
- Includes a land lease with Subway
- 2,985 total property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,462
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,240
$709.2K
Cap Rate 7%
$506,600
$506.6K
Cap Rate 9%
$394,022
$394.0K
Market Conditions
NOI Build-Up for 2,985 SF
Gross rent
$59.1K $19.80/SF
− Vacancy
−$11.8K −$3.96/SF
EGI
$47.3K $15.84/SF
− OpEx
−$11.8K −$3.96/SF
NOI
$35.5K $11.88/SF
Area
Valencia County, NM
Vacancy
20.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,240
Cap Rate 7%
$506,600
Cap Rate 9%
$394,022
Alternative Uses
Best Use
Office B
$506.6K
$443.3K – $591.0K
NOI $35,462 @ 7.0% cap · market cap 3.73%
Second Best
Specialty Retail
$412.7K
$361.1K – $481.5K
NOI $28,887 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$617.2K
$540.1K – $720.1K
NOI $43,206 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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 Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial asset with office space, restaurant space, and a separate Subway land lease.
Where is this mixed-use property located?
The property is located at 455 S Main St Belen, NM.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑building property with a dedicated office building and restaurant space; Includes a land lease with Subway; 2,985 total property size
