Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sandia Airpark Vacant Land Title is generated by Realmo AI

    93 Rainbow Roads, Edgewood, NM 87015

    View on Map
    Claim this Listing
    For Sale
    $49,999

    LAND - Edgewood, NM

    Lot size:
    1.01 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    75
    Last Refresh:
    Jun 2 at 5:06 pm

    Property Features for 93 Rainbow Roads

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R5
    Standard status
    Active
    APN
    910000204
    Lot size
    1.01 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    T10N R 7E S14 TR A-8 1.0082 AC SANDIA AIRPARK EST EAST PH I
    Tax Annual Amount
    252

    We can help!

    Listing Contact
    Joel Hinckley

    Listing agent Joel Hinckley License #REC20240053

    Listing office PlatLabs, LLC NM

    Listing date Mar 20, 2026

    MLS# 202601115 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

    • One‑acre vacant lot suitable for development
    • Convenient access to Edgewood, I‑40, and Albuquerque
    • Located in a growing area
    • Level terrain
    • Excellent accessibility
    • Sandia Airpark location

    Overview

    This 1.01-acre vacant lot is located in Sandia Airpark. The property features level terrain and convenient access from nearby roads. It is located in a growing area with proximity to Edgewood, I-40, and Albuquerque, offering accessibility while maintaining an open, spacious setting. The property is suited for a variety of future possibilities. The zoning is R5, and the buyer is responsible for verifying zoning and permitted uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Edgewood
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.1716718
    Latitude
    35.0931293

    Nearby Similar for Sale

    • $545,000
      3,400 SF

      Edgewood Commercial Building For Sale

      Well-maintained 6-unit commercial building with parking and storage.
      3 George Court, Edgewood, NM 87015
      View Details
    • $600,000

      Edgewood Land Parcel For Sale

      Approximately 140 acres available in Edgewood, New Mexico.
      Hillcrest, Edgewood, NM 87015
      View Details
    • $2,215,000

      Prime Commercial Land in Edgewood

      Highly visible 4.13-acre commercial land in a bustling community.
      12 Edgewood 7 Road, Edgewood, NM 87015
      View Details
    • $2,215,000

      Prime Commercial Land in Edgewood

      Highly visible 4.13-acre commercial land in a bustling community.
      12 Edgewood 7 Road, Edgewood, NM 87015
      View Details
    • $55,000

      Edgewood Land: Build Your Dream

      2.26-acre wooded lot in Edgewood, NM with utilities available.
      Lucas Road, Edgewood, NM 87015
      View Details
    • $109,900

      Expansive Lot in Stoneridge Subdivision

      1.2 acre lot in Edgewood's newest subdivision.
      12 Wildwood Drive, Edgewood, NM 87015
      View Details
    • $174,900

      Land in Stoneridge Subdivision, Edgewood

      Large lots with mountain views and easy I-40 access.
      16 Wildwood Drive, Edgewood, NM 87015
      View Details
    • $149,900

      Expansive Lots in Edgewood, NM

      Large lots with mountain views and easy access to I-40.
      20 Wildwood Drive, Edgewood, NM 87015
      View Details
    • $84,900

      Land in Edgewood, New Mexico

      Residential land with mountain views and easy access.
      2 Wildwood Drive, Edgewood, NM 87015
      View Details
    • $29,000

      Land For Sale, Edgewood, NM

      One acre of land available in Edgewood, New Mexico.
      10 Glacier Trail, Edgewood, NM 87015
      View Details
    • $45,000

      Land with Hilltop Views

      4.5 acres of land with mountain views near Albuquerque.
      71 Sunset Boulevard, Edgewood, NM 87015
      View Details
    • $225,000

      Sandia Airpark Hangar on Acreage

      2,000 SF hangar on 1.12 acres in Sandia Airpark.
      86 Blanco Drive, Edgewood, NM 87015
      View Details

    FAQs

    What type of property is this?
    Land - One-acre vacant lot in a growing area near Edgewood.
    Where is this land located?
    The property is located at 93 Rainbow Roads Edgewood, NM.
    What is the asking price?
    The asking price for this property is $49,999.
    What are key features of this property?
    This property features: One‑acre vacant lot suitable for development; Convenient access to Edgewood, I‑40, and Albuquerque; Located in a growing area
    (801) 358-1411
    We can help!
    Listing Contact
    Joel Hinckley
    Real Estate License ID: REC20240053
    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
    93 Rainbow Roads, Edgewood, NM 87015
    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!