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    Property profile & analytics

    106 Caldwell Ave Belen, NM 87002

    • Office space
    • 14,250 SF
    • 8.49 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0798518
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office space

    Property Details for 106 Caldwell Ave

    Lot size
    8.49 lot acres
    Property size
    14,250 SF
    Property type
    Office space
    Property subtype
    Retail space

    Description

    This exceptional Belen, New Mexico property offers a unique investment opportunity encompassing 14,250 square feet of vacant junior anchor space and multiple available retail pads. Located at 106 Caldwell Ave, in the Los Lunas submarket of Albuquerque, this shopping center presents significant potential. The former Bealls location, a spacious 14,250-square-foot junior anchor space, features a flexible open floor plan and built-out dressing rooms. Five spaces are available, with a minimum divisible size of 1,360 square feet and a maximum contiguous space of 14,250 square feet. The property sits on 8.49 acres of land, with individual pad sites ranging from 0.5 to 1.22 acres, ideal for new construction. Benefitting from excellent visibility on Reinken Ave, the center boasts two monument signs and ample building facade signage opportunities, including multiple end cap locations. Convenient access and ample parking are provided via direct connection to Reinken Ave. The property is zoned C-1 and is situated in Valencia County, New Mexico, zip code 87002. The strategic location is further enhanced by a nearby CU Anytime ATM, driving additional foot traffic. This property presents a compelling opportunity for businesses seeking high-visibility retail or office space in a thriving New Mexico market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belen
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.76052627
    Latitude
    34.65849843

    Comparable in this City

    • $14 SF/Yr
      18,235 SF

      Prime Belen Office Space

      Exceptional office suites in a vibrant location.
      620 Reinkin Ave, Belen, NM 87002
      View Details
    • $5,500,000
      1,316 SF

      Belen Office Space For Rent

      Centrally located office space with great visibility and ample parking.
      101 S Main St, Belen, NM 87002
      View Details
    • $14 SF/Yr
      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
    • Contact for pricing
      182,081 SF

      Belen, NM Commercial Land Opportunity

      Walmart-anchored pad, 1.52-4.18 acres.
      21 I-25 Byp, Belen, NM 87002
      View Details

    Similar Nearby for Sale

    • $410,000
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      Retail Investment on South Main

      Retail property for sale located on South Main Street.
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    • $649,999
      4,820 SF

      Belen, NM Retail Investment

      High-yield convenience store/dispensary
      804 Main St, Belen, NM 87002
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    • $179,500
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      Office Building Near Reinken Ave

      Office building formerly used by KARS Radio near Reinken Ave.
      208 N 2Nd St, Belen, NM 87002
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    • $275,000
      1,786 SF

      Historic Plaza Office Building

      Office building in the center of town on Main Street.
      201 S Main St, Belen, NM 87002
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    • $5,500,000
      44,560 SF

      Prime Belen Office Building

      Wells Fargo-anchored, high-income potential
      101 Main St, Belen, NM 87002
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    • $600,000

      Belen Main Street Retail Opportunity

      Prime Belen location, high traffic, redevelopment potential.
      219-223 Main St, Belen, NM 87002
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      18,235 SF

      Prime Belen Office Space

      Exceptional office suites in a vibrant location.
      620 Reinkin Ave, Belen, NM 87002
      View Details
    • $5,500,000
      1,316 SF

      Belen Office Space For Rent

      Centrally located office space with great visibility and ample parking.
      101 S Main St, Belen, NM 87002
      View Details
    • $14 SF/Yr
      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
    • Contact for pricing
      182,081 SF

      Belen, NM Commercial Land Opportunity

      Walmart-anchored pad, 1.52-4.18 acres.
      21 I-25 Byp, Belen, NM 87002
      View Details
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    106 Caldwell Ave
    Belen, NM 87002
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    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
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