804 S Main St Belen, NM 87002
Single-tenant cannabis dispensary for sale with long-term lease.
Type:Retail
Property size:
4,820 SFLot size:
0.50 Acres- Added:
- Jun 5, 2024
- Days on Market:
- 683
- Last Refresh:
- Mar 17 at 1:25 pm
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 agent Anthony Briguglio License #10491212878
Listing office Coldwell Banker Commercial AMH
Listing date Jun 5, 2024
Source Crexi
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
Overview
Belen Cannabis Dispensary Investment Property
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%.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Belen
- County
- Valencia
- State
- New Mexico
- Longitude
- -106.7738555
- Latitude
- 34.6698969
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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.
