Listed by Atlas Commercial Brokerage
$1,280,000
118 South Main Street
Details
APN 1007028135250000000
Property Type Retail
Sub Type Commercial
Square Footage 8,000
Cap Rate 84.00%
NOI $102,860
Occupancy 100%
Tenancy Multi
Lease Type Modified
Acreage 0.238
Zoning C-1 General Commercial
Parking Spaces 14 spaces
Parking per 1,000 SqFt 1.75
Stabilized Recently Renovated Asset
Marketing description
This 10-plex in Belen, New Mexico includes 8,000 square feet and has been superlatively maintained and recently remodeled. 14 on-site parking spaces are provided. New air conditioning units have been installed in all units. As in most apartments, occupancy varies but the 10-plex is currently 100% occupied. Each unit is equipped with ADA bathrooms. Very walkable, near restaurants, grocery stores, retail and community amenities. Located directly next to City Hall and the newly built courthouse. All municipal utilities for gas, water, electricity as well as Wi-Fi. Exterior lighting. All apartments are smoke-free.
Investment highlights
- Centrally located in mid-downtown
- The valencia county assessor indicates that the property will be considered residential rather than commercial for tax purposes
- New roof
- New air conditioning in all units
- New concrete walkway
- New stucco on east façade
- Lot size 2385 acres
- Zoning is c-1 under belen/valencia county ordinances
- Professional management
- List price $ 1,280,000
- $ 128,000 per unit
- Current annual Gross Income $119,760.00+ $50.00 per unit for municipal trash reimbursement
- Estimated Net Operating Income is $102,860.00
- A current rent roll is available
Listing Contacts
Listed by Atlas Commercial Brokerage
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$102,860.00
$8,571.67/mo
Valuation Metrics
0
DSCR
8.04%
Cap Rate
8.04%
ROI
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