Add Listing
    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

    1276 Washington Avenue Grants, NM 87020

    View on Map
    Claim this Listing
    For Sale
    $270,000

    MULTI_FAMILY - Grants, NM

    Property size:
    2,600 SF
    Lot size:
    0.17 Acres
    Added:
    Jan 13, 2026
    Days on Market:
    94
    Last Refresh:
    Apr 17 at 2:06 am

    Property Features for 1276 Washington Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bedroom 1, Bedroom 2, Bathroom 1
    Parking
    4
    Interior features
    CeilingFans
    Appliances
    FreeStandingGasRange, Refrigerator, RangeHood
    Standard status
    Active
    APN
    2054062010351
    Size
    2,600 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2204

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s)

    Building Details

    Floors in Building
    2
    Number of units
    4
    Flooring type
    Carpet, Laminate, Tile
    Building materials
    Frame, Stucco

    We can help!

    Listing Contact
    Richard Hanna
    Richard Hanna

    Listing agent Richard Hanna License #9158

    Listing office Hanna Commercial, LLC 3321 Candelaria NE #118, Albuquerque, NM

    Listing date Jan 13, 2026

    MLS# 1098433 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.

    Overview

    Grants Multifamily Investment Opportunity

    Located in the northwest part of Grants, New Mexico, this two-story multifamily property at 1276 Washington Avenue offers investment potential. Each of the suites includes 650 square feet of living space, featuring a living room, two bedrooms, a bathroom, and two closets. The kitchens are designed for convenience. The property is located near I-40. The lot size is 0.17 acres, and the total property size is 2,600 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Grants
    County
    Cibola
    State
    New Mexico
    Longitude
    -107.8186985
    Latitude
    35.1561347

    Nearby Similar for Sale

    • $450,000
      8,400 SF

      Grants Industrial Property For Sale

      Industrial property available for purchase in Grants, New Mexico.
      729 E High St, Grants, NM
      View Details
    • $2,500,000
      183,757 SF

      Former Red Lion Redevelopment Opportunity

      Value-add opportunity in Grants, New Mexico off I-40.
      1501 E Santa Fe Ave, Grants, NM 87020
      View Details
    • $260,000
      10,418 SF

      Updated Retail Property For Sale

      Retail property with recent infrastructure and lighting upgrades for sale.
      813-819 N 1st St, Grants, NM
      View Details
    • $350,000
      9,000 SF

      Industrial Property in Grants, NM

      9,000 SF industrial property available for sale.
      1204 Elkins Rd, Grants, NM
      View Details
    • Contact for pricing
      1,200 SF

      Established Medical Office Building

      1200 sqft medical office building on 0.79 acres.
      901 E Roosevelt Ave, Grants, NM
      View Details
    • Contact for pricing
      4,500 SF

      4,500 SF Investment Property

      Investment property with tenant in place until December 2030.
      899 E Roosevelt Ave, Grants, NM
      View Details

    FAQs

    What type of property is this?
    Quadplex - Two-story multifamily property with high return potential near I-40.
    Where is this quadplex located?
    The property is located at 1276 Washington Avenue Grants, NM.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: Multi‑family property ideal for investment with high return potential.; Convenient location in the northwest part of town, near I‑40.; Each suite features 650 sq ft of living space.
    (505) 332-0522
    We can help!
    Listing Contact
    Richard Hanna
    Richard Hanna
    Real Estate License ID: 9158
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!