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804 S Main St 4,820 SF Retail Building Belen, NM 87002 $966,990 CAD ($200.62 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$105,669
|
$21.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$105,669
|
$21.92
|
| Taxes |
$4,842
|
$1.00
|
| Operating Expenses |
$2,767
|
$0.57
|
| Total Expenses |
$7,609
|
$1.58
|
| Net Operating Income |
$98,060
|
$20.34
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $105,669 |
| Annual Per SF | $21.92 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $105,669 |
| Annual Per SF | $21.92 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,842 |
| Annual Per SF | $1.00 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,767 |
| Annual Per SF | $0.57 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $7,609 |
| Annual Per SF | $1.58 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $98,060 |
| Annual Per SF | $20.34 |
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
$966,990 CAD
Price Per SF
$200.62 CAD
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 | $114,979 CAD (2024) |
| Land Assessment | $35,673 CAD (2024) | Annual Taxes | $4,842 CAD ($1.00 CAD/SF) |
| Improvements Assessment | $79,306 CAD (2024) | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
1-007-027-063-521-000000
Land Assessment
$35,673 CAD (2024)
Improvements Assessment
$79,306 CAD (2024)
Total Assessment
$114,979 CAD (2024)
Annual Taxes
$4,842 CAD ($1.00 CAD/SF)
Tax Year
2023 Payable 2023
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804 S Main St
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