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    804 Main St Belen, NM 87002

    Sponsored
    For Sale
    $649,999

    High-yield convenience store/dispensary

    Property size:
    4,820 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a single-tenant, 4,820 square foot convenience store and dispensary located at 804 S Main St, Belen, NM 87002. The property sits on a 20,782 square foot lot and includes 8 parking spaces. Built in 1990 and completely renovated in 2023, this Class C retail building boasts 100% occupancy with a 5.1-year lease commencing May 1, 2023, and expiring May 31, 2028. The lease features a modified structure with a remaining term of 3.5 years and includes a 3% annual rent bump. The property generates a substantial Net Operating Income (NOI) of $70,884, resulting in a compelling 10.13% cap rate. The asking price is $649,999, translating to $134.85 per square foot. The property is zoned C3 and offers a stable income stream with a thriving tenant. Low owner expenses, including only $2,700 in annual taxes, further enhance the investment's attractiveness. This turnkey operation presents a rare opportunity for investors seeking a strong return in a desirable New Mexico market. The property's recent renovation ensures a modern and appealing aesthetic, contributing to its long-term value and potential for appreciation.

    Property Features for 804 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,820 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1990/2023
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $649,999 asking price for a 4,820 square foot convenience store/dispensary in Belen, NM.
    • Modified lease with 3.5 years remaining, expiring May 31, 2028, with 3% annual rent bumps.
    • 100% occupancy since May 1, 2023, generating a $70,884 NOI and a 10.13% cap rate.
    • Located on a 20,782 square foot lot with 8 parking spaces, the property features a single, 1‑story building built in 1990 and renovated in 2023.
    • C3 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belen
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.7787635
    Latitude
    34.6527769

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    FAQs

    What type of property is this?
    Individual retail property - High-yield convenience store/dispensary
    Where is this individual retail property located?
    The property is located at 804 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: $649,999 asking price for a 4,820 square foot convenience store/dispensary in Belen, NM.; Modified lease with 3.5 years remaining, expiring May 31, 2028, with 3% annual rent bumps.; 100% occupancy since May 1, 2023, generating a $70,884 NOI and a 10.13% cap rate.
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    804 Main St Belen, NM 87002
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    Belen, NM 87002
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    804 Main St Belen, NM 87002
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