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    OFF-MARKET
    Retail space

    502 Lake St, Tucumcari, NM 88401

    1.16 ac lot Built 1980
    Property ID
    US61-0968492
    Property summary
    AI-generated overview

    This exceptional 1.16-acre commercial property at 502 S Lake Street, Tucumcari, New Mexico, 88401, presents a unique investment opportunity. Built in 1980, this versatile property encompasses land, office, retail, and industrial space, currently housing a thriving farm and ranch supply store, a highly-rated barbeque restaurant (Watson's Barbeque, ranked 13th in a 2018 Travel + Leisure article), and a gift shop. The existing business, operating for over 36 years, boasts a diverse inventory including farm and ranch supplies, clothing, footwear, home décor, western goods, and a selection of meats and other food items. The business also benefits from a strong online presence and 5-star TripAdvisor reviews. The property's location in Quay County offers excellent visibility and access, making it ideal for continued operation of the existing business or redevelopment to suit a variety of commercial ventures. The asking price is $600,000. This is a rare chance to acquire a well-established, multi-faceted business with significant potential for growth and return on investment.

    Property profile
    Verified
    Property type Retail space
    Year built 1980
    Lot 1.16 ac (50,530 SF)
    UPID US61-0968492
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Watson's BBQ Restaurant
    • Tucumcari Ranch & Farm Supply home of Watson's BBQ Department Store Grocery & Convenience Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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