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    192 Llano De Ln Legua Penasco, NM 87579

    Sponsored
    For Sale
    $3,500,000

    Farm - Penasco, NM

    Type:Farm
    Property size:
    3,500 SF
    Lot size:
    285.00 Acres
    Days on Market:
    495
    Last Refresh:
    Feb 6 at 6:06 pm

    Property Features for 192 Llano De Ln Legua

    General Information

    Property type
    Other
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    1071130160227
    Interior features
    No Interior Steps
    Size
    3,500 SF
    Lot size
    285.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Private, Well
    Water front features
    Pond

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Irene Cordova

    Realty One Enchanted Circle (505) 883-9400

    Listing agent Irene Cordova (505) 883-9400

    Listing date Sep 30, 2024

    MLS# 202341401 Listing URL

    Copyright © 2025 Santa Fe Association of REALTORS®, Inc. 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

    Overview

    Penasco Ranch with Mountain Views

    Nestled in a grove of ponderosa pine within the Sangre de Cristo Mountain range, this ranch offers a unique home in harmony with its environment. Located on the southern end of the Rocky Mountains, approximately 30 miles south of Taos, New Mexico, it neighbors the Carson National Forest and Pecos Wilderness. The property includes a restored ponderosa pine forest, two natural earth-fed springs, and several ponds designed for wildlife and erosion control. The ranch features approximately 20 acres of flood-irrigated pasture from two acequias and around 14 acres of dry pasture. Registered with New Mexico Fish & Game for landowner elk tags in Unit 45, the property is also located within 60 to 70 miles of five ski resorts: Sipapu, Taos Ski Valley, Angel Fire, Red River, and Ski Santa Fe. The newly built log cabin lodge features a 27-foot cathedral ceiling, three bedrooms, two bathrooms, a hot tub, and a wood-burning stove. A 4-car garage/workshop includes a bonus room upstairs. The home spans approximately 3500 square feet, complemented by an additional 1200 square feet of decks. Constructed with 12-inch logs and floor plans from Montana Custom Log Homes Inc, the home offers views of northern New Mexico valleys and mountains from its west-facing windows. Additional features include underground utilities, high-speed fiber optic internet, cisterns for water catchment, and a 25 x 25 carport. The property is suitable for a family getaway, a primary or secondary home compound, or a corporate retreat.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Penasco
    County
    Taos
    State
    New Mexico
    Longitude
    -105.681682
    Latitude
    36.1400257

    Nearby Similar for Sale

    • $350,000
      0.72 Acres

      Established Market in Penasco, NM

      Profitable market and convenience store with additional rental space.
      15066 Nm Hwy, Penasco, NM 87553
      View Details

    FAQs

    What type of property is this?
    Ranch - Spacious ranch near Taos with mountain views and modern amenities.
    Where is this ranch located?
    The property is located at 192 Llano De Ln Legua Penasco, NM.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - Newly built log cabin lodge featuring 3 bedrooms, 2 bathrooms, hot tub, wood burning stove, and a 4-car garage/workshop with bonus room.; - Situated on 34+- acres bordering Carson National Forest & Pecos Wilderness, registered for landowner elk tags (Unit 45).; - Twenty +- acres of flood irrigated pasture from two acequias & 14+- acres of dry pasture, plus two natural earth-fed springs and numerous ponds.
    (575) 613-0671
    Request Owner's contact information
    192 Llano De Ln Legua Penasco, NM 87579
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    Penasco, NM 87579
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    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
    192 Llano De Ln Legua Penasco, NM 87579
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    We can help!
    Listing Contact
    Irene Cordova
    Real Estate License ID: 50837
    (575) 613-0671
    Learn more
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