Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    219-223 Main St Belen, NM 87002
    Back to Search
    Property profile & analytics

    219-223 Main St, Belen, NM 87002

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 219-223 Main St

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 219-223 N Main Street in Belen, New Mexico, presents a unique investment opportunity. Priced at $600,000, this 10,890 square foot lot offers significant potential for both established businesses and forward-thinking developers. Situated in the heart of Belen's vibrant Main Street corridor, the property benefits from high traffic counts and excellent visibility. The existing buildings have been thoughtfully restored, showcasing attractive features such as tall ceilings and versatile layouts suitable for multiple uses. Currently, there are leases in place, generating immediate income potential. Ample parking is available both on the street and at the rear of the property. This property is ideally positioned within the historic area of Valencia County (zip code 87002), offering a blend of established charm and redevelopment potential. The property's location in the bustling Belen commercial area ensures strong visibility and accessibility. Interested parties are encouraged to explore the various possibilities this property offers, from continuing existing operations to undertaking a complete redevelopment project. The property's size and location make it an attractive investment for a wide range of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Belen
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.777
    Latitude
    34.6621

    Comparable in this City

    • Value Estimation by Request
      8.49 Acres

      Caldwell Ave

      Land
      0 Caldwell Ave, Belen, NM 87002
      View Details
    • Value Estimation by Request
      0.78 Acres

      503/517 Main St

      Land
      503/517 Main St, Belen, NM 87002
      View Details
    • Value Estimation by Request
      8,320 SF

      708 Main St

      Retail properties & Spaces
      708 Main St, Belen, NM 87002
      View Details
    • Value Estimation by Request
      11.97 Acres

      Don Luis Trujillo Blvd

      Land
      0 Don Luis Trujillo Blvd, Belen, NM 87002
      View Details
    • Value Estimation by Request
      13.80 Acres

      Via Feliz Rd

      Land
      0 Via Feliz Rd, Rio Communities, NM 87002
      View Details
    • Value Estimation by Request
      5.80 Acres

      817 Main St

      Land
      817 Main St, Belen, NM 87002
      View Details

    Similar Nearby for Sale

    • $2,000,000
      10.60 Acres

      Belen Land with Highway Frontage

      10.6 acres of commercial land with highway frontage.
      19474 Highway 314, Belen, NM 87002
      View Details
    • $425,000
      8,287 SF

      Belen Retail Center - Main Street

      High-traffic retail investment opportunity.
      503/517 Main St, Belen, NM 87002
      View Details
    • Contact for pricing
      2,179 SF

      Commercial Corner Lot on Reinken

      2220 sq ft building on a corner lot.
      301 E Reinken Ave, Belen, NM 87002
      View Details
    • Contact for pricing
      3,000 SF

      Restaurant and Bar For Sale

      Restaurant and bar on 1.8 acre corner lot.
      629 S Main St, Belen, NM 87002
      View Details
    • Contact for pricing
      Pending

      Restaurant/Retail Opportunity on Large Lot

      4,596 sqft building on 1.8 acres with high visibility.
      Unknown, Belen, NM 87002
      View Details
    • Contact for pricing
      5.73 Acres

      Land in Planned Neighborhood

      5.7 acre corner lot in Rio Communities, New Mexico.
      4 Block 16, Belen, NM 87002
      View Details

    Similar Nearby for Lease

    • $1,681 /Mo
      179,467 SF

      Retail Space and Pad Sites

      Retail spaces and pad sites available for lease in Belen.
      162 Caldwell Ave, Belen, NM 87002
      View Details
    • Contact for pricing
      5,388 SF

      Belen Office Space For Rent

      Office space available with flexible build-outs and ample parking.
      620 W Reinken Ave, Belen, NM 87002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    219-223 Main St
    Belen, NM 87002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    219-223 Main St, Belen, NM, 87002
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!