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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1651 Main St Los Lunas, NM 87031

    • Neighborhood centers
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1284302
    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

    • Kingdom Barbershop / Barber Shop
    • Le Salon / Beauty Salon
    • The Paleta Bar Los Lunas / Ice Cream Shop
    • T-Mobile Authorized Retailer / Cell Phone Store / Cell Phone Accessory Store
    • Everest Cannabis Co. - Los Lunas / Cannabis Store / Alternative Medicine Practitioner

    Property Details for 1651 Main St

    Property type
    Neighborhood centers
    Property subtype
    Retail space

    Description

    This exceptional 1,240 square foot retail space is situated on Main Street NW in Los Lunas, New Mexico, a high-traffic thoroughfare in Valencia County. The property offers convenient right-in, right-out, and left-in access, ensuring excellent visibility and accessibility for customers. The space is part of a single-story strip center building, offering a single, contiguous unit. Potential tenants will benefit from prominent pylon signage opportunities, enhancing brand visibility. This location boasts a strong retail environment, surrounded by established national and regional retailers such as Home Depot, Lowe's, T-Mobile, Walmart, and Hibbitt Sports, creating a vibrant and attractive commercial landscape. The property enjoys exceptional access to Interstate 25, providing convenient access for both customers and employees. Furthermore, its proximity to major employers like Meta and Amazon, less than a mile away, guarantees a substantial pool of potential customers. With a daily traffic count of 30,350 vehicles on Main Street, this retail space presents a unique opportunity to establish or expand a business in a thriving commercial area. The available space is 1,240 square feet, offering ample room for a variety of retail uses.

    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
    Los Lunas
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.75386491461
    Latitude
    34.813951619144

    Comparable in this City

    • $2,000 /Mo
      16,988 SF

      Los Lunas Retail/Office Space

      Remodeled retail or office space on a busy highway.
      959 New Mexico 314, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      4,500 SF

      Los Lunas Retail Center Opportunity

      High-traffic retail space, 2 suites available
      2510 Main St, Los Lunas, NM 87031
      View Details
    • Contact for pricing

      Los Lunas Retail Land Opportunity

      Prime Main St. land, 8+ acres.
      0 Seq Main St & Los Lentes Rd, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      1 SF

      Sunset View Marketplace: Prime Retail Land

      18 Acres, Los Lunas, NM Retail Opportunity
      0 Sec Main St & Hunning Rnch Loop, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      713,512 SF

      I-25 & Hwy 6 Retail Land

      Prime Los Lunas Retail Tract
      0 Sec Of I-25 & Hwy 6, Los Lunas, NM 87031
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    • $18 SF/Yr
      1,100 SF

      Los Lunas Retail Space For Lease

      Prime Main Street location, 1,100 sq ft.
      1400 Main St, Los Lunas, NM 87031
      View Details

    Similar Nearby for Sale

    • $650,000
      0.31 Acres

      Retail Property on Corner Lot

      Fully occupied retail property on a corner lot in Los Lunas.
      3378 Hwy, Los Lunas, NM 87031
      View Details
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      12.39 Acres

      I-25 & Hwy 6 Retail Opportunity

      Prime Los Lunas location, vacant land/building.
      0 Sec Of I-25 & Hwy 6, Los Lunas, NM 87031
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    • $575,000
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      Los Lunas Commercial Pad Site

      Prime 1.1-acre riverfront retail opportunity.
      1802 Main St, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      0.16 Acres

      Los Lunas Retail & Land Opportunity

      High-traffic retail land, prime location.
      0 Seq Main St & Los Lentes Rd, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      18.12 Acres

      Sunset View Marketplace: Prime Retail Land

      18-Acre Retail Development in Los Lunas, NM
      0 Sec Main St & Hunning Rnch Loop, Los Lunas, NM 87031
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    • $925,000
      1.25 Acres

      Los Lunas Commercial Investment Property

      Two buildings leased to Optum on 1.25 acres.
      111 Sandoval Rd, Los Lunas, NM 87031
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      16,988 SF

      Los Lunas Retail/Office Space

      Remodeled retail or office space on a busy highway.
      959 New Mexico 314, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      4,500 SF

      Los Lunas Retail Center Opportunity

      High-traffic retail space, 2 suites available
      2510 Main St, Los Lunas, NM 87031
      View Details
    • Contact for pricing

      Los Lunas Retail Land Opportunity

      Prime Main St. land, 8+ acres.
      0 Seq Main St & Los Lentes Rd, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      713,512 SF

      I-25 & Hwy 6 Retail Land

      Prime Los Lunas Retail Tract
      0 Sec Of I-25 & Hwy 6, Los Lunas, NM 87031
      View Details
    • Contact for pricing
      1 SF

      Sunset View Marketplace: Prime Retail Land

      18 Acres, Los Lunas, NM Retail Opportunity
      0 Sec Main St & Hunning Rnch Loop, Los Lunas, NM 87031
      View Details
    • $18 SF/Yr
      1,100 SF

      Los Lunas Retail Space For Lease

      Prime Main Street location, 1,100 sq ft.
      1400 Main St, Los Lunas, NM 87031
      View Details

    Property Visit Statistics

    • Visits by month
      5.6k
    • Visitors by month
      3.3k
    • Avg Time on site
      41 min
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    1651 Main St
    Los Lunas, NM 87031
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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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