Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1104 Vargas Rd SE Rio Rancho, NM 87124

    Sponsored
    For Sale
    $95,000

    LAND - Rio Rancho, NM

    Lot size:
    1.43 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 1 at 8:06 am

    Property Features for 1104 Vargas Rd SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1-010-067-371-475
    Lot size
    1.43 Acres

    We can help!

    Listing Contact
    The Venegas Group

    Keller Williams Realty - Albuquerque (505) 271-8200

    Listing agent The Venegas Group

    Listing date Jan 19, 2026

    MLS# 1094826 Listing URL

    Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Oversized Lot in Growing Area

    This oversized lot, spanning over 1.6 acres, is located in a rapidly growing area of Rio Rancho. The location is off the newly finished Westside Boulevard. The property is situated near Presbyterian Hospital center, Intel, a movie theater, and the new high-end Market Street, which opened in April 2025. The lot falls within the Rio Rancho school district and is only minutes from the new Joe Harries Elementary school. Vargas Road is mostly paved, and the city maintains the unpaved section. Power and gas are available on the street. The lot will require a well and septic system. The terrain is mostly flat, offering views of the mountains and open land.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rio Rancho
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.714162
    Latitude
    35.230499

    Nearby Similar for Sale

    • $589,990
      2,528 SF

      New Duplex in Rio Rancho

      New construction duplex perfect for investment or multi-generational living.
      388 Pecos Loop SE, Rio Rancho, NM 87124
      View Details
    • $579,435
      2,520 SF

      New Rio Rancho Duplex Investment

      New construction duplex perfect for rental income or multi-generational living.
      392 Pecos Loop SE, Rio Rancho, NM 87124
      View Details
    • $425,790
      1,994 SF

      New Rio Rancho Investment Property

      Built in 2022, features modern amenities and rental appeal.
      6817 Cleary Loop NE, Rio Rancho, NM 87144
      View Details
    • $454,990
      0.13 Acres

      New Rio Rancho Home

      Contemporary 3-bedroom home built in 2023, ideal for investors.
      6704 Zachary Rd NE, Rio Rancho, NM 87144
      View Details
    • $465,990
      0.34 Acres

      New Rio Rancho Investment Property

      New construction multi-family home in Rio Rancho, excellent investment opportunity.
      549 Mindoro Dr SE, Rio Rancho, NM 87124
      View Details
    • $509,990
      0.17 Acres

      Rio Rancho Multi-Family Investment

      Turn-key investment property with long-term tenant in Rio Rancho.
      344 Pinnacle Dr SE, Rio Rancho, NM 87124
      View Details
    • New
      Contact for pricing
      0.50 Acres

      Land in Rio Rancho, NM

      Land available for sale in Rio Rancho, New Mexico.
      27Th Ave NW, Rio Rancho, NM 87124
      View Details
    • $1,200,000
      664 SF

      Retail Building on Southern Blvd

      Stand-alone retail building constructed in 2023 with high traffic exposure.
      2200 Southern Blvd SE, Rio Rancho, NM 87124
      View Details
    • $240,000
      Pending

      Rio Rancho Land For Sale

      3-acre corner lot zoned for assisted living development.
      1901 Sonora Rd NE, Rio Rancho, NM 87144
      View Details
    • $5,260,126
      39,685 SF

      Country Club Center: Rio Rancho Retail Investment

      High-yield shopping center, prime Rio Rancho location.
      3301 Southern Blvd, Rio Rancho, NM 87124
      View Details
    • $1,400,000

      Prime Rio Rancho QSR Opportunity

      Turn-key QSR, high traffic, 2023 build.
      2200 Southern Blvd, Rio Rancho, NM 87124
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Large lot near hospital, Intel, and future Market Street.
    Where is this residential land & home lot located?
    The property is located at 1104 Vargas Rd SE Rio Rancho, NM.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: - Oversized lot: over 1.6 acres, significantly larger than most lots in the area.; - Prime location in a fast-growing area, off the newly finished Westside Blvd.; - Proximity to Presbyterian Hospital center, Intel, movie theater, and Market Street.
    (505) 463-6065
    Request Owner's contact information
    1104 Vargas Rd SE Rio Rancho, NM 87124
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1104 Vargas Rd SE
    Rio Rancho, NM 87124
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1104 Vargas Rd SE Rio Rancho, NM 87124
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    The Venegas Group
    Real Estate License ID: 50802
    (505) 463-6065
    Learn more
    Google sign-in failed. Please try again or use another login method.