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804 S Main St 4,820 SF Retail Building Belen, NM 87002 $699,000 ($145.02/SF)
INVESTMENT HIGHLIGHTS
- Current Tenant on a 6 year lease that commenced on June 1st, 2023.
- Owner pays property taxes and insurance ONLY which equates to roughly $450/month.
- Tenant paying $6000 per month with 3% annual increases.
- Property located in the heart of Belen on Main Street close to restaurants, retail, hospitality and residential housing.
EXECUTIVE SUMMARY
804 S Main St. was previously a high income producing convenience store and gas station. It has since been converted to a successful cannabis retailer. This will be a great investment.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$76,384
|
$15.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$76,384
|
$15.85
|
| Taxes |
$3,500
|
$0.73
|
| Operating Expenses |
$2,000
|
$0.41
|
| Total Expenses |
$5,500
|
$1.14
|
| Net Operating Income |
$70,884
|
$14.71
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $76,384 |
| Annual Per SF | $15.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $76,384 |
| Annual Per SF | $15.85 |
| Taxes | |
|---|---|
| Annual | $3,500 |
| Annual Per SF | $0.73 |
| Operating Expenses | |
|---|---|
| Annual | $2,000 |
| Annual Per SF | $0.41 |
| Total Expenses | |
|---|---|
| Annual | $5,500 |
| Annual Per SF | $1.14 |
| Net Operating Income | |
|---|---|
| Annual | $70,884 |
| Annual Per SF | $14.71 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,820 SF
Building Class
C
Year Built/Renovated
1985/1992
Price
$699,000
Price Per SF
$145.02
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.50 AC
Zoning
C-4 - Regional commercial center located outside of the central business districts
Parking
14 Spaces (2.9 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1-007-027-063-521-000000 | Total Assessment | $81,900 (2024) |
| Land Assessment | $25,410 (2024) | Annual Taxes | $3,500 ($0.73/SF) |
| Improvements Assessment | $56,490 (2024) | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
1-007-027-063-521-000000
Land Assessment
$25,410 (2024)
Improvements Assessment
$56,490 (2024)
Total Assessment
$81,900 (2024)
Annual Taxes
$3,500 ($0.73/SF)
Tax Year
2023 Payable 2023
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804 S Main St
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