Turnkey Restaurant with Commercial
For Sale
Contact for pricing
724 North Main Street, Belen, NM 87002
Turnkey restaurant building with a 1,000+ SF commercial kitchen, ample parking, and main-street frontage for convenient operations.
Property Size2,797 SF
Lot Size0.84 Acres
Price / SF$125.13
Days on Market58
Property Features for 724 North Main Street
General Information
Standard status
Active
Size
2,797 SF
Total Parking Spaces
34
Lot size
0.84 Acres
Property subtype
Retail
Zoning
C-1
Site & Location
Traffic Count
17,239 vehicles/day
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Commercial Hood
Yes
Listing Agency:
Berkshire Hathaway New Mexico Commercial Division
Listed By:
Jacob Lopez · License #REC-2024-0071
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 7 at 9:50AM
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 Berkshire Hathaway New Mexico Commercial Division
Investment Insights
Based on property information with market context.
This turnkey commercial restaurant building spans 2,797 square feet and is designed for immediate operation. The site includes a commercial kitchen exceeding 1,000 square feet, dedicated reception and dining areas, three restrooms, an office, and interior storage. An exterior storage container is connected to the building, and all furnishings and equipment are included, featuring items such as a hood, 3-compartment sink, prep tables, and tables and chairs.
The property sits on 0.84 acres with 181 feet of frontage on Main Street, within a corridor carrying 17,239 VPD. Access is supported by tri-directional ingress/egress, and dual monument signage plus on-building signage are included. Parking totals 34 spaces (at an approximate 12:1,000 SF ratio). All utilities are on-site, and the asset also benefits from nearby access to I-25, located 1.9 miles away.
For operators, this configuration supports front-of-house dining and back-of-house food prep with practical storage and an on-site office. For investors or buyers looking for C-1 zoning flexibility beyond food service, the C-1 designation can support a broader range of commercial uses while maintaining a restaurant-ready buildout. FF&E is included, and a currently operating business is referenced in the listing.
The property sits on 0.84 acres with 181 feet of frontage on Main Street, within a corridor carrying 17,239 VPD. Access is supported by tri-directional ingress/egress, and dual monument signage plus on-building signage are included. Parking totals 34 spaces (at an approximate 12:1,000 SF ratio). All utilities are on-site, and the asset also benefits from nearby access to I-25, located 1.9 miles away.
For operators, this configuration supports front-of-house dining and back-of-house food prep with practical storage and an on-site office. For investors or buyers looking for C-1 zoning flexibility beyond food service, the C-1 designation can support a broader range of commercial uses while maintaining a restaurant-ready buildout. FF&E is included, and a currently operating business is referenced in the listing.
Key Highlights
- 2,797 SF turnkey commercial restaurant building on 0.84 acres
- 1,000+ SF commercial kitchen with FF&E included (hood, 3‑compartment sink, prep tables, tables, chairs, and more)
- 181' of Main Street frontage on a corridor carrying 17,239 VPD
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
$27,067
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
7.73%
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%
$541,340
$541.3K
Cap Rate 7%
$386,671
$386.7K
Cap Rate 9%
$300,744
$300.7K
Market Conditions
NOI Build-Up for 2,797 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
$38.6K $13.80/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$36.1K $12.90/SF
− OpEx
−$9.0K −$3.23/SF
NOI
$27.1K $9.68/SF
Area
Valencia County, NM
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
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%
$541,340
Cap Rate 7%
$386,671
Cap Rate 9%
$300,744
Alternative Uses
Best Use
Specialty Retail
$386.7K
$338.3K – $451.1K
NOI $27,067 @ 7.0% cap · market cap 7.73%
Second Best
Industrial
$239.1K
$209.3K – $279.0K
NOI $16,740 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$578.4K
$506.1K – $674.8K
NOI $40,485 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,239 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant building with a 1,000+ SF commercial kitchen, ample parking, and main-street frontage for convenient operations.
Where is this conventional restaurant located?
The property is located at 724 North Main Street Belen, NM.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,797 SF turnkey commercial restaurant building on 0.84 acres; 1,000+ SF commercial kitchen with FF&E included (hood, 3‑compartment sink, prep tables, tables, chairs, and more); 181' of Main Street frontage on a corridor carrying 17,239 VPD
