Leased Auto Shop
For Sale
$575,000
700 N Main St, Belen, NM 87002
Existing motorcycle body shop use with lease coverage extending through February 2027.
Property Size2,895 SF
Price / SF$198.62
Days on Market233
Property Features for 700 N Main St
General Information
Standard status
Active
Size
2,895 SF
Property subtype
Other
Zoning
C-1
Additional Details
Highway Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Realty ONE Group Concierge Commercial
(505) 220-9700
Listed By:
Julie Turner
(505) 220-9700
Source:
Carnm.resimplifi
Added: Jan 9
Changed: Aug 30
Last Checked: Aug 30 at 3:57PM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,744
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $24,744 @ 7.0% cap · market cap 4.30%
Second Best
Industrial
$247.5K
$216.6K – $288.8K
NOI $17,327 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$598.6K
$523.8K – $698.4K
NOI $41,903 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Silva's Auto/Tire LLC — 200 W Reinken Ave, Belen, NM 87002
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 $575,000.
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
