Building Details

Year built 2000

Listing Agency: Los Alamos Properties, LLC

Listed By: David L. Horpedahl · License #16847 Show Phone

Added: Jan 4 Changed: Aug 19 Last Checked: Oct 13 at 3:06PM

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MLS# 202600020

Copyright © 2026 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.

Investment Insights

Based on property information with market context.

This 1,400-square-foot property occupies 0.5 acres and requires rehabilitation. The improvements have operated as a self-service gas station with a convenience store component, offering an existing commercial configuration for continued use or redevelopment. The building was constructed in 2000.

Community water service is available to the property. It is located at 35213 US Hwy 285 in Ojo Caliente, New Mexico.

Key Highlights

• 1,400‑square‑foot commercial property on 0.5 acres
• Operated as a self‑service gas station and convenience store
• Property requires rehabilitation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,962

Cap Rate

4.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$139,240 $139.2K

Cap Rate 7%

$99,457 $99.5K

Cap Rate 9%

$77,356 $77.4K

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$10.8K $7.68/SF

− Vacancy

−$806 −$0.58/SF

EGI

$9.9K $7.10/SF

− OpEx

−$3.0K −$2.13/SF

NOI

$7.0K $4.97/SF

Area

Santa Fe County, NM

Vacancy

7.50%

Lease Rate

$7.68 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$139,240

Cap Rate 7%

$99,457

Cap Rate 9%

$77,356

Alternative Uses

Best Use

Specialty Retail

$303.9K

$265.9K – $354.6K (±1% cap)

NOI $21,274 @ 7.0% cap · market cap 14.18%

Second Best

Retail

$253.6K

$221.9K – $295.9K (±1% cap)

NOI $17,755 @ 7.0% cap · market cap 11.84%

Theoretical Best

Office A

$380.2K

$332.6K – $443.5K (±1% cap)

NOI $26,611 @ 7.0% cap · market cap 17.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Gas stations

Suggested Use

Top Pick Real Estate Agency Wine and Liquor Store Bed & Breakfast Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 87505, NM

32,078

Population

18,733

Households

1.7

Avg Household Size

52

Median Age

54%

College-Educated

94%

High-School Grad

65.1 sq mi

ZIP Area

493

Density / Sq Mi

$75,912

Median Household Income

$41,169

Median Earnings

$1,348

Median Rent

$484,100

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this gas stations located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Gas station - Community water serves a self-service fueling and convenience-store property requiring rehabilitation.

Where is this gas station located?

The property is located at 35213 US Hwy 285 Ojo Caliente, NM.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 1,400‑square‑foot commercial property on 0.5 acres; Operated as a self‑service gas station and convenience store; Property requires rehabilitation