Listing Agency: Realty ONE Group Concierge Commercial

Listed By: Julie Turner Show Phone

Source: Carnm.resimplifi

Added: Jan 9 Changed: Oct 3 Last Checked: Oct 14 at 7:45PM

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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 Realty ONE Group Concierge Commercial

Investment Insights

Based on property information with market context.

Located at 700 N Main St in Belen, New Mexico, this 2895-square-foot commercial building is configured for its current motorcycle body shop operation. The property is occupied under a lease that runs through February 2027.

The site is zoned C-1 and offers visibility with access to and from I-25. Its existing automotive configuration and commercial setting support continued evaluation by buyers seeking an auto shop property, subject to zoning and buyer verification.

Key Highlights

• 2895 SF commercial building
• Current motorcycle body shop operation
• Lease in place through February 2027

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,744

Cap Rate

5.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,880 $494.9K

Cap Rate 7%

$353,486 $353.5K

Cap Rate 9%

$274,933 $274.9K

Market Conditions

NOI Build-Up for 2,895 SF

Gross rent

$38.2K $13.20/SF

− Vacancy

−$2.9K −$0.99/SF

EGI

$35.3K $12.21/SF

− OpEx

−$10.6K −$3.66/SF

NOI

$24.7K $8.55/SF

Area

Valencia County, NM

Vacancy

7.50%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,880

Cap Rate 7%

$353,486

Cap Rate 9%

$274,933

Alternative Uses

Best Use

Retail

$353.5K

$309.3K – $412.4K (±1% cap)

NOI $24,744 @ 7.0% cap · market cap 5.50%

Second Best

Industrial

$247.5K

$216.6K – $288.8K (±1% cap)

NOI $17,327 @ 7.0% cap · market cap 3.85%

Theoretical Best

Office A

$598.6K

$523.8K – $698.4K (±1% cap)

NOI $41,903 @ 7.0% cap · market cap 9.31%

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

Property Analytics

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Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Dental Office Parking Lot & Garage Storage Facility

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

416

Businesses Nearby

Well-served

Demand for This Use

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

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

Questions? Ask Rey

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

What type of property is this? Where is this auto shops 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?

Auto shop - Existing motorcycle body shop use with lease coverage extending through February 2027.

Where is this auto shop located?

The property is located at 700 N Main St Belen, NM.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2895 SF commercial building; Current motorcycle body shop operation; Lease in place through February 2027