Building Details

Year Built 1996

Buildings 1

Stories 1

Construction metal-frame

Listing Agency: Azurite Realty LLC

Listed By: Heriberto Torres · License #LCN2289

Source: Viewlascruceshomes

Added: Nov 4 Changed: Nov 5 Last Checked: Nov 4 at 2:43PM

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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 Azurite Realty LLC

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Investment Insights

Based on property information with market context.

At 509 N Franklin Street in Hatch, this single-story metal-frame bank building contains approximately 2,084 square feet on a 0.63-acre corner parcel. Built in 1996, the interior includes a lobby and reception area, private offices, a workroom, kitchen and break room, restrooms, and built-in cabinetry. Entry windows bring natural light into spaces finished with tile and carpet. County records list approximately 1,206 square feet of canopy area in addition to the enclosed building.

The site has paved parking, landscaped frontage, sidewalks, and a covered drive-through with multiple lanes. The offering is for real estate only; the businesses are excluded. Existing lease obligations and required approvals may affect future adaptation.

Key Highlights

• Approximately 2,084 square feet of enclosed space on 0.63 acres
• Built in 1996 as a bank; metal‑frame construction
• Covered drive‑through with multiple lanes and approximately 1,206 square feet of canopy area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,084

Cap Rate

3.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$381,680 $381.7K

Cap Rate 7%

$272,629 $272.6K

Cap Rate 9%

$212,044 $212.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,084 SF

Gross rent

$27.5K $13.20/SF

− Vacancy

−$2.1K −$0.99/SF

EGI

$25.4K $12.21/SF

− OpEx

−$6.4K −$3.05/SF

NOI

$19.1K $9.16/SF

Area

Dona Ana County, NM

Vacancy

7.50%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$381,680

Cap Rate 7%

$272,629

Cap Rate 9%

$212,044

Alternative Uses

Best Use

Specialty Retail

$272.6K

$238.6K – $318.1K (±1% cap)

NOI $19,084 @ 7.0% cap · market cap 3.21%

Second Best

Retail

$241.6K

$211.4K – $281.8K (±1% cap)

NOI $16,910 @ 7.0% cap · market cap 2.84%

Theoretical Best

Office A

$364.7K

$319.1K – $425.5K (±1% cap)

NOI $25,528 @ 7.0% cap · market cap 4.29%

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

Banks

Suggested Use

Top Pick Plumbing Service Electrical Service Bakery (Bike/Boat/Book/etc) Store Pharmacy Kitchen & Bath Showroom

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

Demographics for 87937, NM

3,009

Population

1,123

Households

2.7

Avg Household Size

31

Median Age

7%

College-Educated

56%

High-School Grad

174.3 sq mi

ZIP Area

17

Density / Sq Mi

$39,250

Median Household Income

$29,419

Median Earnings

$474

Median Rent

$102,000

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

Frequently Asked Questions

What type of property is this?

Bank - Single-story interior includes a lobby, private offices, workroom, break room, and restrooms.

Where is this bank located?

The property is located at 509 N Franklin Street Hatch, NM.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: Approximately 2,084 square feet of enclosed space on 0.63 acres; Built in 1996 as a bank; metal‑frame construction; Covered drive‑through with multiple lanes and approximately 1,206 square feet of canopy area