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    411 West Broadway Street Silver City, NM 88061

    View on Map
    For Sale
    $989,000

    COMMERCIAL - Silver City, NM

    Lot size:
    0.27 Acres
    Added:
    Nov 1, 2025
    Days on Market:
    153
    Last Refresh:
    Apr 2 at 11:06 am

    Property Features for 411 West Broadway Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    APN
    3-081-103-288-331
    Lot size
    0.27 Acres

    Taxes and HOA fees

    TaxDescription
    Subd: FRASER Block: 61 Lot: 8 ALL LOT 8 EXCEPT S18' OF W34.5' .043 AC, TRUSTEE:, VANNESS REBEKKA B., Block: 61 Lot: 10 .057 AC, Block: 61 Lot: 12 .057 AC, Block: 61 Lot: 14 .057 AC, Block: 61 Lot: 16 .057 AC

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Radiant, Radiant Floor
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    2
    Number of units
    1
    Flooring type
    Wood
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Edward Valenzuela

    Listing agent Edward Valenzuela License #18965

    Listing office Coldwell Banker Legacy Elite 2990 N. Main Ste 1A, Las Cruces, NM

    Listing date Nov 1, 2025

    MLS# 2503463

    Copyright © 2025 Multiple Listing & Information Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Silver City Residence

    Located in the heart of Silver City's Historic District, this beautifully restored 1883 residence offers nearly 4600 sq. ft. of charm. The property features 4 marble fireplaces and original wood floors. The property also includes 2x2 copper tin ceilings installed in 2017, a gourmet commercial kitchen with fire suppression, a library, parlor, and dining hall. Modern updates include electrical and plumbing from 2005, a roof installed in 2024, stucco, and paint. The front porch has been restored with tiger wood decking and custom-matched newels. An outdoor pergola provides space for gatherings. Zoned for residential or business use, the property has potential for live/work, boutique inn, or event space. The property is located within walking distance of downtown shops, galleries, and restaurants. The lot size is 0.27 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Serenity House , A Fine ... Bed & Breakfast Tours of the Gila Tour Operator

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Silver City
    County
    Grant
    State
    New Mexico
    Longitude
    -108.27925
    Latitude
    32.769753

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    FAQs

    What type of property is this?
    Wedding venue - Restored 1883 residence in Silver City's Historic District.
    Where is this wedding venue located?
    The property is located at 411 West Broadway Street Silver City, NM.
    What is the asking price?
    The asking price for this property is $989,000.
    What are key features of this property?
    This property features: Prime Historic District Location: Walkable to downtown shops, galleries, and restaurants.; Restored Historic Charm: Beautifully restored 1883 residence with original wood floors and marble fireplaces.; Flexible Zoning: Zoned for residential or business use, offering live/work potential, boutique inn, or event space.
    (575) 621-5309
    We can help!
    Listing Contact
    Edward Valenzuela
    Real Estate License ID: 18965
    Learn More
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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
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