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    The Largest CRE Database in the US with Over 1 Million Listings

    40 Acres Mile Marker 359 Hwy 285 Ojo Caliente, NM 87549

    Sponsored
    For Sale
    $148,000

    LAND - Ojo Caliente, NM

    Lot size:
    40.13 Acres
    Days on Market:
    26
    Last Refresh:
    Feb 8 at 10:06 am

    Property Features for 40 Acres Mile Marker 359 Hwy 285

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Grassed
    Zoning
    Rural Residential
    APN
    1053143297132
    Lot size
    40.13 Acres

    We can help!

    Listing Contact
    Adrienne Harvitz

    Home & Land Professionals LLC (505) 425-9074

    Listing agent Adrienne Harvitz (505) 946-8020 License #REC20220116

    Listing date Jan 14, 2026

    MLS# 202503691 Listing URL

    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.

    Learn more

    Overview

    Land Near Ojo Caliente Resort

    This 40-acre property is located just 5 minutes from the Ojo Caliente Mineral Springs Resort. The land offers privacy and panoramic mountain views, with a direct border to Carson National Forest. The build site provides views of Pedernal, the Sangre de Cristo range, and Taos Mountain. The terrain includes pinon-juniper forest, white sage, cacti, native grasses, and seasonal wildflowers. The property is designated as a critical wildlife habitat, supporting elk, deer, raptors, and other native species. Fiber-optic internet is available, and electricity is possible via easement to a nearby line. A water well or hauled water system is required. The property has a recorded road easement, and driveway construction is needed. The residential zoning is suitable for off-grid living, a retreat, or a homestead. It is located 5 minutes from hot springs, dining, and a spa, 45 minutes from Taos art, skiing, and culture, and 1.5 hours from Santa Fe's historic Plaza. Seller financing is offered with a minimum of 30% down and a competitive interest rate.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Ojo Caliente
    County
    Taos
    State
    New Mexico
    Longitude
    -105.953203
    Latitude
    36.32767404

    Nearby Similar for Sale

    • $279,000
      1,500 SF

      Ojo Caliente Mixed-Use Property

      Commercial/residential property near Ojo Caliente Spa & Resort.
      35295 Us Highway 285, Ojo Caliente, NM 87549
      View Details
    • $150,000
      1,400 SF

      Ojo Caliente Rehab Opportunity

      Rehab opportunity: gas station and convenience store in Ojo Caliente.
      35213 Us Highway 285, Ojo Caliente, NM 87505
      View Details

    FAQs

    What type of property is this?
    Land - 40-acre property bordering Carson National Forest near Ojo Caliente.
    Where is this land located?
    The property is located at 40 Acres Mile Marker 359 Hwy 285 Ojo Caliente, NM.
    What is the asking price?
    The asking price for this property is $148,000.
    What are key features of this property?
    This property features: - Direct border with Carson National Forest providing unparalleled access to outdoor recreation.; - Enjoy PANORAMIC mountain views including Pedernal, Sangre de Cristo range, and Taos Mountain.; - Just 5 minutes from Ojo Caliente Mineral Springs Resort.
    (505) 946-8020
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    Ojo Caliente, NM 87549
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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
    40 Acres Mile Marker 359 Hwy 285 Ojo Caliente, NM 87549
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    We can help!
    Listing Contact
    Adrienne Harvitz
    Real Estate License ID: REC20220116
    (505) 946-8020
    Learn more
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