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    421 Maple Avenue Chama, NM 87520

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    Claim this Listing
    For Sale
    $399,000

    COMMERCIAL - Contemporary - Chama, NM

    Property size:
    3,800 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $105/SF
    Added:
    May 22, 2025
    Days on Market:
    344
    Last Refresh:
    Apr 30 at 11:06 am

    Property Features for 421 Maple Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    InteriorSteps
    Standard status
    Active
    APN
    R009013
    Size
    3,800 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    Subd: ORIGINAL TOWNSITE OF CHAMA Block: 8 Lot: 8 THRU:- Lot: 10 Tract: SOUTH 1/2 , , S: 14 T: 31N R: 03E 0.16 AC

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1997
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Christie Bundren

    Listing agent Christie Bundren License #50003

    Listing office Realty One of Chama 669 Terrace Ave, Chama, NM

    Listing date May 22, 2025

    MLS# 202502270 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.

    Overview

    Remodeled Income Property Near Railroad

    This property in Chama, NM, presents a rare income opportunity near the Cumbres & Toltec Scenic Railroad, restaurants, and shops. The property offers possibilities such as VRBO, multi-generational living, or use as a duplex with rental income from the other units. The main house, approximately 1900 square feet, features 3 bedrooms, 3 bathrooms, two kitchens, and a laundry room. A 950-square-foot casita can serve as a guest house, rental, or studio, featuring natural light, new flooring, paint, and a large kitchen. The property is set up as three rentals with varying floorplans, each wired for separate electric and gas by unit. The first unit has a large floorplan with a staircase leading to 2 bedrooms and 2 baths on the second level, including one ensuite bedroom/bathroom. The first level includes the kitchen, and the living and dining areas receive sunlight through large north and east-facing windows. The second unit has one bedroom and one bath. The casita is a separate, fully remodeled house with two bedrooms and one bath. The property, situated on a 0.16-acre lot, offers 3800 square feet of living space and versatility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Dental Office Hair Salon Big Box & Wholesale Store Food Market Auto Parts Store Electrical Service Clothing & Fashion Store Garden Center Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Chama
    County
    Rio Arriba
    State
    New Mexico
    Longitude
    -106.58037
    Latitude
    36.9039

    Nearby Similar for Sale

    • $519,500
      4,430 SF

      Historic Old Town Retail Opportunity

      Versatile retail building in historic Old Town Chama, New Mexico.
      503 Terrace Avenue, Chama, NM 87520
      View Details
    • $300,000
      3,660 SF

      Chama Restaurant and Saloon

      Historical restaurant and saloon in Chama, NM for sale.
      2281 State Rd 17, Chama, NM 87520
      View Details
    • $350,000
      1,800 SF

      Downtown Chama Mixed-Use Property

      Mixed-use property in downtown Chama, near Cumbres & Toltec train.
      0 Hwy 17, Chama, NM 87520
      View Details

    FAQs

    What type of property is this?
    Triplex - Versatile triplex near Cumbres & Toltec Scenic Railroad.
    Where is this triplex located?
    The property is located at 421 Maple Avenue Chama, NM.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Income‑generating property with three potential rental units.; Remodeled main house (approx. 1900 sq ft) features 3 bedrooms, 3 baths, and 2 kitchens.; Separate, fully remodeled casita (approx. 950 sq ft) offers 2 bedrooms and 1 bath.
    (505) 980-0816
    We can help!
    Listing Contact
    Christie Bundren
    Real Estate License ID: 50003
    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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