510 Reinken Ave Belen, NM 87002
- Retail properties
- 3,459 SF
- 0.34 lot acres
Current Use by Public Records
- Retail properties
Property Details for 510 Reinken Ave
- Lot size
- 0.34 lot acres
- Property size
- 3,459 SF
- Property type
- Retail properties
Description
This lucrative single-tenant retail property, located at 510 W Reinken Ave in Belen, New Mexico, presents a compelling investment opportunity. The 3,459 square foot car wash sits on a 0.34-acre lot zoned C-1, boasting a prominent position along a main corridor with high visibility and access from Reinken Avenue. The property features a single-story building with significant recent improvements, including a metal roof (2016-2017), PVC city water lines (2017), and rebuilt water pumps (2015-2018). Currently generating substantial income, this car wash offers a 6.73% cap rate and a projected pro-forma cap rate of 13.16%. A decommissioned auto bay presents a significant upside, with a pro-forma additional gross income of $26,880. Furthermore, projections indicate a 78.05% increase in gross income within two to three years. The property experiences high traffic volume, with over 15,000 vehicles passing daily. This is a rare chance to acquire a well-maintained, high-performing asset with substantial growth potential in a desirable New Mexico market. The asking price is $450,000, translating to $130.10 per square foot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belen
- County
- Valencia
- State
- New Mexico
- Longitude
- -106.773
- Latitude
- 34.6625
