Belen Cannabis Dispensary Investment
804 S Main St Belen, NM 87002
804 S Main St, Belen, NM, 87002
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For Sale
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Single-tenant cannabis dispensary for sale with long-term lease.
Property Size4,820 SF
Lot Size0.50 Acres
Price / SF$134.85
Days on Market773
Property Features for 804 S Main St
General Information
- Standard status
- Active
- Size
- 4,820 SF
- Lot size
- 0.50 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing Agency
Coldwell Banker Commercial AMH
Listed by
Anthony Briguglio · License #10491212878
Source
Crexi
Added: Jun 5, 2024 Checked: Jul 15 at 11:06 pm
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 Coldwell Banker Commercial AMH
Investment Insights
Based on property information with market context.
Located at 804 S Main Street in Belen, NM, this property features a single-tenant building currently operating as a cannabis dispensary. The building has a total area of 5,000 square feet and is situated on a lot of approximately 21,780 square feet. The tenant is expanding their first location to include a smoke lounge, which will result in additional rent upon completion. A 5-year lease is in place until May 2028, with a 3% annual rent increase. The property generates a total income of $76,384, resulting in a net operating income (NOI) of $73,684. The tenant is responsible for all utilities, while the owner pays $2,700 in taxes. The property has a clean environmental record and features a new build-out. The current cap rate is 11.3%.
Key Highlights
- High 11.3% Cap Rate, generating a $73,684 Net Operating Income (NOI).
- Stable, income‑producing property with a 5‑year lease in place until May 2028, including 3% annual rent increases.
- Single‑tenant property with a thriving cannabis dispensary, expanding to include a smoke lounge which will increase rent.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.6k | $13.20 |
| − Vacancy | −$4.8k | −$0.99 |
| EGI | $58.9k | $12.21 |
| − OpEx | −$17.7k | −$3.66 |
| NOI | $41.2k | $8.55 |
4,820 SF · lease $13.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$588.5K
$515.0K – $686.6K
NOI $41,197 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$996.7K
$872.1K – $1.16M
NOI $69,767 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Single-tenant cannabis dispensary for sale with long-term lease.
Where is this retail space located?
The property is located at 804 S Main St Belen, NM.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: High 11.3% Cap Rate, generating a $73,684 Net Operating Income (NOI).; Stable, income‑producing property with a 5‑year lease in place until May 2028, including 3% annual rent increases.; Single‑tenant property with a thriving cannabis dispensary, expanding to include a smoke lounge which will increase rent.
