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    101 Main St Belen, NM 87002

    For Sale
    $5,500,000

    Wells Fargo-anchored, high-income potential

    Property size:
    44,560 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Class A office building, located at 101 S Main St, Belen, NM 87002, presents a compelling investment opportunity. The 44,560 square foot, four-story building boasts a prominent location on a 3.87-acre lot, offering expansive views. Currently 64% occupied, the property features a multi-tenant configuration with five tenants, including the anchor tenant, Wells Fargo Bank. A 10-year lease is in place, with 5 years remaining. The gross lease structure includes rent bumps, providing consistent income growth. The building, constructed in 1987 and zoned C1, offers significant upside potential. The current Net Operating Income (NOI) stands at $350,000, yielding a 6.36% cap rate at the asking price of $5,500,000 ($123.43 per square foot). The property features six or more drive-up windows, enhancing accessibility and visibility. Financial statements are available upon request. This sale-leaseback opportunity offers a strong foundation for immediate income and long-term appreciation. Lease options are available. Full occupancy is projected for May 1, 2024.

    Property Features for 101 Main St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    44,560 SF
    Class
    A
    Lot Size
    168,577 SF

    Building Details

    Year Built
    1987
    Buildings
    1
    Stories
    4
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Belen
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.7779498
    Latitude
    34.6607614

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    FAQs

    What type of property is this?
    Office Property / Space - Wells Fargo-anchored, high-income potential
    Where is this office property / space located?
    The property is located at 101 Main St Belen, NM.
    What is the asking price?
    The asking price for this property is $5,500,000.
    (505) 861-5669
    Request Owner's contact information
    101 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
    101 Main St Belen, NM 87002
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