New Mexican Restaurant with
For Sale
$2,750,000
8032 4th Street NW, Los Ranchos, NM 87114
COMMERCIAL - Los Ranchos, NM
Property Size8,591 SF
Lot Size2.04 Acres
Price / SF$320.10
Days on Market194
Property Features for 8032 4th Street NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-1
Parking
38
Parking features
Guest
Accessibility
Accessible Approach with Ramp
Directions
LT A PLAT OF LTS A & B LANDS OF PAUL P. BENAVIDEZ & RITA T. BENAVIDEZ CONT 2.0398 AC
Subdivision
100 - North Valley
Standard status
Active
APN
101506423700740107
Lot size
2.04 Acres
Taxes and HOA fees
Tax Annual Amount
14198
Building Details
Floors in Building
2
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
724 Real Estate
(509) 220-1669
Added: Jan 27
Changed: Aug 4
Last Checked: Aug 9 at 2:06PM
MLS# 1098005
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Historic New Mexican restaurant with long-standing local service. The property includes expansive dining and serving space and outdoor patios featuring koi fish ponds and gardens. Interior seating is designed to accommodate both intimate dinners and larger party or banquet-style events. A full-service bar supports on-site drink service.
A large full-service kitchen is on site, along with two large walk-in freezers for supply storage.
The restaurant is located at 8032 4th Street NW in Los Ranchos, within Bernalillo County.
A large full-service kitchen is on site, along with two large walk-in freezers for supply storage.
The restaurant is located at 8032 4th Street NW in Los Ranchos, within Bernalillo County.
Key Highlights
- Established New Mexican restaurant with 50+ years of service.
- Expansive 8591 sq ft dining and serving space.
- Sprawling patios with koi fish ponds and gardens.**
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
$83,137
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
3.02%
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%
$1,662,740
$1.7M
Cap Rate 7%
$1,187,671
$1.2M
Cap Rate 9%
$923,744
$923.7K
Market Conditions
NOI Build-Up for 8,591 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
$118.6K $13.80/SF
− Vacancy
−$7.7K −$0.90/SF
EGI
$110.8K $12.90/SF
− OpEx
−$27.7K −$3.23/SF
NOI
$83.1K $9.68/SF
Area
ZIP 87114
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%
$1,662,740
Cap Rate 7%
$1,187,671
Cap Rate 9%
$923,744
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,137 @ 7.0% cap · market cap 3.02%
Second Best
Industrial
$734.5K
$642.7K – $857.0K
NOI $51,417 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,350 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 78%
Dining 22%
Tractor Supply Co.
Home Improvements & Furnishings
23,540 visits/mo
0.5 miles
Blake's LotaBurger
Dining
6,647 visits/mo
0.2 miles
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Historic New Mexican restaurant with full-service bar, expansive dining, and outdoor patios with koi ponds and gardens.
Where is this conventional restaurant located?
The property is located at 8032 4th Street NW Los Ranchos, NM.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Established New Mexican restaurant with 50+ years of service.; Expansive 8591 sq ft dining and serving space.; Sprawling patios with koi fish ponds and gardens.**
