Turnkey Restaurant in Walmart
For Sale
Contact for pricing
60 NM-344, Edgewood, NM 87015
4,701 SF restaurant with full kitchen on 1.14-acre parcel.
Property Size4,701 SF
Lot Size1.14 Acres
Price / SF$275.47
Days on Market710
Property Features for 60 NM-344
General Information
Standard status
Active
Size
4,701 SF
Lot size
1.14 Acres
Property subtype
Retail
Investment Type
Core+
Net Operating Income
$3,018
Building Details
Year Built
2015
Buildings
1
Stories
1
Listing Agency:
Belco Development & Investments
Listed By:
Adam Farmer · License #CA 1370795
(951) 696-2727
Source:
Crexi
Added: Nov 7, 2024
Changed: Oct 11
Last Checked: Oct 16 at 9:29AM
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 Belco Development & Investments
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 4,701 square foot turnkey former Denny’s restaurant built in 2015. The property features a full restaurant kitchen ready to go, including a hood, walk-in refrigerator, and freezer, as well as booths, tables, and chairs. Situated on a 1.14-acre parcel, the pad site is located within a Walmart Supercenter on the hard corner of Church Street and State Road, benefiting from traffic counts of 23,226 vehicles per day. The location offers excellent street visibility and is strategically positioned right off the I-40 freeway, near the freeway off/on ramp with 22,037 vehicles per day. The turnkey site includes existing furniture, fixtures, and equipment (FF&E) and has an ATM lease in place through June 30, 2025, generating an annual rent of $3,018.00. The property benefits from a busy signalized intersection on State Road 344 and serves as a primary hard corner pad to the Walmart Supercenter, drawing regional traffic.
Key Highlights
- Turnkey 4,701 SF former Denny's restaurant with full kitchen, FF&E ready to go.
- Located on a hard corner pad site within a Walmart Supercenter.
- Excellent visibility and access at a busy signalized intersection.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,435
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,428,700
$1.4M
Cap Rate 7%
$1,020,500
$1.0M
Cap Rate 9%
$793,722
$793.7K
Market Conditions
NOI Build-Up for 4,701 SF
Gross rent
$101.5K $21.60/SF
− Vacancy
−$6.3K −$1.34/SF
EGI
$95.2K $20.26/SF
− OpEx
−$23.8K −$5.07/SF
NOI
$71.4K $15.20/SF
Area
Santa Fe County, NM
Vacancy
6.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,428,700
Cap Rate 7%
$1,020,500
Cap Rate 9%
$793,722
Alternative Uses
Best Use
Specialty Retail
$1.02M
$892.9K – $1.19M
NOI $71,435 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,357 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
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 Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - 4,701 SF restaurant with full kitchen on 1.14-acre parcel.
Where is this conventional restaurant located?
The property is located at 60 NM-344 Edgewood, NM.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Turnkey 4,701 SF former Denny's restaurant with full kitchen, FF&E ready to go.; Located on a hard corner pad site within a Walmart Supercenter.; Excellent visibility and access at a busy signalized intersection.
