Commercial Real Estate Market in Belen, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
267 active listings and 49 off-market properties in Belen, NM. Commercial property asks $33/SF to buy and $11.25/SF/Yr to lease.
Market Trends
Belen, NM spans 598.3 square miles in Valencia County, New Mexico. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Belen, NM runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Belen, NM runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Belen, NM runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Belen, NM runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Industrial 40.3%
- Residential 21.7%
- Commercial 16.5%
- Mixed use 0.4%
- Special 0.1%
Largest Zones share of zoned land by district
Industrial And Business Park
Special Use
General Commercial
Single Family Residential
Agricultural Residential
Belen, NM zones 12,027 acres across 13 districts. Commercial zoning covers 16.5% of zoned land, residential 21.7% and industrial 40.3%. The largest single district is Industrial And Business Park at 38.9%. For commercial buyers the practical constraint is that only 56.8% of land carries a commercial or industrial designation.
Industrial And Business Park (MPD)
The purpose of MPD zone is to allow for heavy commercial and manufacturing uses which do not create danger and which do not create excessive offensive noise, vibration, smoke, dust, lint, odors, heat, or glare to an adjoining land use
Market overview
Demographics & Economy
Belen, NM has 21,225 residents in 9,210 households. Density runs 35 people per square mile. Median household income here is $51,537 and median gross rent $859 a month.
21,225
Population
9,210
Households
2.3
Avg Household Size
43
Median Age
19%
College-Educated
84%
High-School Grad
598.3 sq mi
ZIP Area
35
Density / Sq Mi
$51,537
Median Household Income
$30,896
Median Earnings
$859
Median Rent
$183,700
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Belen?
Commercial property in Belen, NM asks an average of $33 per square foot.
How much does it cost to lease commercial space in Belen?
Asking lease rates in Belen, NM average $11.25 per square foot per year.
What zoning applies to commercial property in Belen?
Belen, NM zones 12,027 acres across 13 districts, of which 16.5% is commercial and 40.3% industrial. The largest single district is Industrial And Business Park at 38.9% of zoned land. The purpose of MPD zone is to allow for heavy commercial and manufacturing uses which do not create danger and which do not create excessive offensive noise, vibration, smoke, dust, lint, odors, heat, or glare to an adjoining land use Residential zoning covers 21.7% and open space 0%.
Where does Realmo's Belen market data come from?
Realmo compiles Belen, NM figures from 262 active sale listings, 5 active lease listings, 49 tracked off-market properties, the current Belen zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 262 active for-sale and 5 active for-lease listings in Belen, NM. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 12,027 zoned acres across 13 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
