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

    206 S Mckinley Dr Gallup, NM 87301

    Sponsored
    Picture of Commercial land at S Mckinley Dr 206, Gallup, NM
    For Sale
    $33,000

    LAND - Gallup, NM

    Lot size:
    0.38 Acres
    Days on Market:
    79
    Last Refresh:
    Feb 4 at 8:06 pm

    Property Features for 206 S Mckinley Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    2105088247249
    Lot size
    0.38 Acres

    We can help!

    Listing Contact
    Tony Sanchez
    Tony Sanchez

    RE/MAX Combined Investments (505) 862-1852

    Listing agent Tony Sanchez (505) 722-7811

    Listing date Nov 18, 2025

    MLS# 20256531 Listing URL

    Copyright © 2026 New Mexico 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

    Commercial Lot Near Highway 66

    This commercial lot is located just off Highway 66 in Gallup, New Mexico, within a General Commercial zoning district. The property is positioned near I-40, offering convenient access and high visibility. The lot size is approximately 0.3799 acres. Steady traffic in the area enhances its potential as an investment opportunity. Located in McKinley County, the property is suitable for a wide range of uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gallup
    County
    McKinley
    State
    New Mexico
    Longitude
    -108.7322454
    Latitude
    35.52946826

    Nearby Similar for Sale

    • $90,000
      0.28 Acres

      Two Homes on Quarter-Acre Lot

      Two separate homes on a quarter-acre lot in Gallup, NM.
      114 W Adams Ave, Gallup, NM 87301
      View Details
    • $495,000
      0.54 Acres

      Industrial Building in Gallup, NM

      Large industrial building suitable for new user or repurpose.
      601 E Coal Ave, Gallup, NM 87301
      View Details
    • $1,700,000
      20,000 SF

      Gallup Commercial Property For Sale

      20,000 SF commercial property in Gallup, New Mexico.
      107 W Coal Ave, Gallup, NM 87301
      View Details
    • $1,840,491
      9,200 SF

      Freestanding Family Dollar in Gallup

      Single tenant NNN Family Dollar in Gallup, New Mexico.
      1584 New Mexico 264, Gallup, NM
      View Details
    • $230,000
      4,500 SF

      Established Auto Repair Shop

      4,500 SF auto repair shop on 48,769 SF land.
      2400 E Aztec Ave, Gallup, NM 87301
      View Details
    • $1,200,000
      21,350 SF

      Historic Route 66 Motel Investment

      Gallup, NM Motel - 50 Rooms, 2.24 Acres
      1903 Historic Highway 66, Gallup, NM 87301
      View Details
    • $242,000

      Gallup Storefront: Prime Location

      Versatile Commercial Space, $242,000
      1208 Aztec Ave, Gallup, NM 87301
      View Details
    • $1,200,000
      2.24 Acres

      Historic Route 66 Motel

      Gallup, NM Hotel - $1.2M
      1903 Historic Highway 66, Gallup, NM 87301-0000
      View Details
    • $3,400,000
      24,641 SF

      Gallup Industrial Facility

      24,641 SF Warehouse, Refrigerated Storage
      3534 Sanostee Dr, Gallup, NM 87301
      View Details
    • $1,700,000
      20,000 SF

      Gallup, NM Restaurant/Bar for Sale

      Prime Location, 20,000 SF, Turn-Key
      107 Coal Ave, Gallup, NM 87301
      View Details
    • $275,000
      2,600 SF

      Gallup Mixed-Use Property

      Prime Gallup location, 2600 sq ft, 1 acre lot.
      306 Mentmore Rd, Gallup, NM 87301
      View Details
    • $1,200,001
      2.20 Acres

      Historic Route 66 Motel Investment

      Prime Gallup, NM Motel - 50 Rooms
      0 Duplicate, Gallup, NM 87301
      View Details

    FAQs

    What type of property is this?
    Commercial land - Versatile commercial lot in Gallup, NM, near I-40 access.
    Where is this commercial land located?
    The property is located at 206 S Mckinley Dr Gallup, NM.
    What is the asking price?
    The asking price for this property is $33,000.
    What are key features of this property?
    This property features: - Prime location off iconic Highway 66.; - General Commercial zoning allows for versatile uses.; - High visibility and steady traffic flow.
    (505) 862-1852
    Request Owner's contact information
    206 S Mckinley Dr Gallup, NM 87301
    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.
    206 S Mckinley Dr
    Gallup, NM 87301
    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
    206 S Mckinley Dr Gallup, NM 87301
    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
    Tony Sanchez
    Tony Sanchez
    Real Estate License ID: REC-2022-0269
    (505) 862-1852
    Learn more
    Google sign-in failed. Please try again or use another login method.