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

    415 E Washington St Tucumcari, NM 88401

    Sponsored
    For Sale
    $985,000

    MULTI_FAMILY - Contemporary, Pueblo - Tucumcari, NM

    Property size:
    15,964 SF
    Lot size:
    2.07 Acres
    Days on Market:
    142
    Last Refresh:
    Jan 27 at 4:06 am

    Property Features for 415 E Washington St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Bedroom 8, Bedroom 6, Bedroom 7, Bedroom 9, Bedroom 10, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 6, Bathroom 8, Bathroom 1, Bathroom 4, Bathroom 7, Bathroom 5, Bedroom 4, Bathroom 3, Bathroom 9, Bathroom 10
    Bedrooms
    10
    Bathrooms
    10
    APN
    117906348201200
    Parking
    11
    Parking features
    Guest, Covered
    Patio and Porch features
    Patio
    Interior features
    Ceiling Fan(s), Pantry, Walk-In Closet(s)
    Exterior features
    Sidewalk, Yard Art
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dryer, Free-Standing Range, Refrigerator, Washer, Electric Water Heater
    Size
    15,964 SF
    Lot size
    2.07 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas, Fireplace(s)
    Cooling system
    Electric, Central Air

    Building Details

    Floors in Building
    1
    Number of units
    10
    Flooring type
    Tile, Vinyl, Carpet
    Building materials
    Brick, Stone
    Roof type
    Shake, Flat
    Architectural style
    Contemporary, Pueblo

    We can help!

    Listing Contact
    Katharine Fly

    WEICHERT, REALTORS - The 505 Group (575) 762-5611

    Listing agent Katharine Fly (575) 799-9500

    Listing date Sep 8, 2025

    MLS# 20255169

    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

    Tucumcari Multifamily Investment Opportunity

    This 10-unit multifamily complex is located in close proximity to the hospital, shopping, restaurants, and other services in Tucumcari, New Mexico. The property, situated on a 2.0661-acre lot, features a total building size of 15964 square feet. The complex comprises eight 2-bedroom, 1.5-bath units and two 3-bedroom, 2-bath units. Each unit includes covered parking for 1 to 2 cars, walk-in closets, central air conditioning and heating, and a private courtyard. The units are designed with high ceilings, Southwest architecture, and well-laid-out floorplans. The property also features a central circle drive for guests, mature trees, and landscaping. The complex presents a turnkey investment opportunity with several recently updated units and long-term tenants. Two units have been rented to the hospital's helicopter service for the past 10 years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Tucumcari
    County
    San Miguel
    State
    New Mexico
    Longitude
    -103.721388
    Latitude
    35.157672

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      Prime Tucumcari Multifamily Compound

      10-Unit Santa Fe Style Apartment Building
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    FAQs

    What type of property is this?
    Apartment building - Turnkey 10-unit complex near hospital, shopping, and restaurants.
    Where is this apartment building located?
    The property is located at 415 E Washington St Tucumcari, NM.
    What is the asking price?
    The asking price for this property is $985,000.
    What are key features of this property?
    This property features: - Prime location: Close proximity to hospital, shopping, restaurants, and services.; - Strong rental history: Two units rented to helicopter service for 10 years, plus several long-term tenants.; - Turnkey investment opportunity: Well-maintained 10-unit complex with a mix of 2 and 3 bedroom units.
    (575) 799-9500
    Request Owner's contact information
    415 E Washington St Tucumcari, NM 88401
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    Tucumcari, NM 88401
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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
    415 E Washington St Tucumcari, NM 88401
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    We can help!
    Listing Contact
    Katharine Fly
    Real Estate License ID: 16616
    (575) 799-9500
    Learn more
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