Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Sale Espanola, NM Title is generated by Realmo AI

    84/285 Hennigan lot C, Espanola, NM 87532

    View on Map
    Claim this Listing
    For Sale
    $300,000

    COMMERCIAL - Espanola, NM

    Lot size:
    5.28 Acres
    Added:
    Jan 3, 2026
    Days on Market:
    144
    Last Refresh:
    May 27 at 1:06 pm

    Property Features for 84/285 Hennigan lot C

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Exterior features
    Curb
    Standard status
    Active
    APN
    1048119002514000000
    Lot size
    5.28 Acres

    Utilities

    Sewer type
    Septic Needed
    Water source
    Private, Well
    Water front
    1

    We can help!

    Listing Contact
    David L. Horpedahl
    David L. Horpedahl

    Listing agent David L. Horpedahl License #16847

    Listing office Los Alamos Properties, LLC 10 A Verde Ridge, Santa Fe, NM

    Listing date Jan 3, 2026

    MLS# 202600017 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.

    HighLights

    • Private water source via well.
    • Septic system needed for waste management.
    • Curb present.
    • Location coordinates: [-106.05648, 35.9882]
    • Exterior features available.
    • Additional property details provided.

    Overview

    This commercial land parcel is located in Espanola, New Mexico. The lot size is 5.28 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Espanola
    County
    Rio Arriba
    State
    New Mexico
    Longitude
    -106.056484
    Latitude
    35.988203

    Nearby Similar for Sale

    • $447,000
      2,730 SF

      Espanola Restaurant and Bar

      Turnkey restaurant and bar on the Plaza in Espanola.
      100 Los Alamos Highway, Espanola, NM 87532
      View Details
    • $480,000
      2,322 SF

      Updated Duplex in Espanola, NM

      Remodeled duplex with new features, ideal for owner-occupants or investors.
      1891 & 1893 Canada Court, Espanola, NM 87532
      View Details
    • $315,000

      Spacious Fenced Lot in Espanola

      0.62-acre lot with utilities, mobile home, near High Road.
      1814 State RD 76, Espanola, NM 87532
      View Details
    • $100,000

      Espanola Land with Water Rights

      1.019 acre vacant land with water rights in Espanola.
      Camino Arbolera, Espanola, NM 87532
      View Details
    • $135,000

      Espanola Land with Mountain Views

      0.86 acre lot with mountain views near Santa Fe.
      County Rd 126 lot: 1, Espanola, NM 87532
      View Details
    • $139,000

      Centrally-Located Lot in Espanola, NM

      0.69 acre lot with irrigation rights in Fairview/Espanola.
      La Joya Street, Espanola, NM 87532
      View Details
    • $135,000

      Centrally-Located Land in Espanola, NM

      0.60 acre lot with irrigation rights and mountain views.
      La Joya Street, Espanola, NM 87532
      View Details
    • $370,000

      5-Acre Land Parcel in Espanola

      5-acre property with well, septic, and electricity near Espanola.
      6 La Resolana, Espanola, NM 87532
      View Details
    • $225,000
      500,678 SF

      Espanola Land For Sale

      3.21 acres of land available in Espanola, New Mexico.
      84/285 Hennigan lot: B, Espanola, NM 87532
      View Details
    • $295,000

      Espanola Land with Water Rights

      2.89-acre lot with water rights in central Espanola.
      Chamisal St, Espanola, NM 87532
      View Details
    • $447,000
      2,730 SF

      Espanola Restaurant and Bar on Plaza

      Turnkey restaurant and bar on the Plaza in Espanola.
      100 Los Alamos, Espanola, NM 87532
      View Details
    • $250,000
      1,820 SF

      Espanola Commercial Building with Garage

      Versatile commercial building with office space and service garage.
      711 Paseo De Onate, Espanola, NM 87532
      View Details

    FAQs

    What type of property is this?
    Land - 5.28 acre land parcel available in Espanola, New Mexico.
    Where is this land located?
    The property is located at 84/285 Hennigan lot C Espanola, NM.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Private water source via well.; Septic system needed for waste management.; Curb present.
    (505) 690-7090
    We can help!
    Listing Contact
    David L. Horpedahl
    David L. Horpedahl
    Real Estate License ID: 16847
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    84/285 Hennigan lot: C, Espanola, NM 87532
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!