804 Main St, Belen, NM 87002

Property Details for 804 Main St

Lot size

0.50 lot acres

Property type

Retail properties & Spaces

Description

This exceptional retail property, located at 804 S Main St in Belen, New Mexico, presents a compelling investment opportunity. The 4,820 square foot building sits on a half-acre lot and is currently leased to a successful cannabis retailer under a six-year lease commencing June 1st, 2023. The lease agreement includes a favorable structure with a monthly rent of $6,000, escalating annually by 3%, resulting in a projected monthly rent just under $7,000 by the lease's conclusion in 2028. This translates to a price per square foot of $145. The property's operational expenses are minimal, with the owner solely responsible for property taxes and insurance, estimated at approximately $450 per month. Strategically positioned on Main Street in the heart of Belen, this property benefits from high visibility and proximity to a vibrant mix of restaurants, retail establishments, hospitality businesses, and residential areas. Its convenient location, minutes from I-25, ensures excellent accessibility and strong potential for continued growth and profitability. The single-story building offers a solid foundation for a long-term investment strategy, providing a stable income stream and significant appreciation potential. This is a rare opportunity to acquire a high-performing retail property in a thriving New Mexico market. The property's history includes a previous use as a high-income producing convenience store and gas station.

Location Insight

City

Belen

County

Valencia

State

New Mexico

Longitude

-106.779

Latitude

34.6528