Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Tract S1 ROAD 1191 La Plata, NM 87418

    View on Map
    Claim this Listing
    For Sale
    $399,900

    Residential - La Plata, NM

    Added:
    Aug 18, 2025
    Days on Market:
    237
    Last Refresh:
    Apr 11 at 7:06 pm

    Property Features for Tract S1 ROAD 1191

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fence, Fenced
    Fencing
    Fenced
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    4622

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    David Harris

    Listing agent David Harris License #12831

    Listing office Dimmick Realty 3555 E Main Ste A, NM

    Listing date Aug 18, 2025

    MLS# 23-480 Listing URL

    Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    89.9 Acres in La Plata

    This property features approximately 89.9 acres bordering CR 1191 in La Plata, New Mexico. It offers a beautiful home site overlooking the farm. The land presents great development potential. Additional property may be available. The sale is subject to survey, and no mineral rights are conveyed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    La Plata
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.204717
    Latitude
    36.922942

    Nearby Similar for Sale

    • $19,999

      La Plata Residential Building Lot

      2.38-acre residential lot with expansive views in La Plata, NM.
      1b-1 ROAD 1300, La Plata, NM 87418
      View Details
    • $19,999

      La Plata Residential Building Lot

      2.69 acre residential lot with utilities and mountain views.
      1a-3 ROAD 1300, La Plata, NM 87418
      View Details
    • $197,127

      40 Acres of Land Parcels

      Three land parcels totaling 40 acres in La Plata, NM.
      32 ROAD 1493, La Plata, NM 87418
      View Details
    • $60,000

      Land with Mountain Views

      Two-acre residential land with mountain views in La Plata.
      2 ROAD 1495, La Plata, NM 87418
      View Details
    • $340,000

      La Plata Land with Views

      360 acres in La Plata, NM with mountain views.
      Xyz ROAD 1354, La Plata, NM 87418
      View Details
    • $35,000

      Residential Land in La Plata

      One-acre residential land suitable for horses and manufactured homes.
      L9 B2 ROAD 1420, La Plata, NM 87418
      View Details
    • $29,000

      La Plata Land with Mountain Views

      12.31 acres in La Plata with mountain views.
      X ROAD 1350, La Plata, NM 87418
      View Details
    • $39,040

      La Plata Land Opportunity

      9.76 acres in La Plata, New Mexico.
      X NM 574, La Plata, NM 87418
      View Details
    • $35,000

      Residential Land with Mountain Views

      1.1 acre residential lot with mountain views near town.
      Xx ROAD 1470, La Plata, NM 87418
      View Details
    • $38,000

      La Plata Residential Land

      Residential land with mountain views, suitable for horses.
      X ROAD 1470, La Plata, NM 87418
      View Details
    • $11,916

      La Plata Land Opportunity

      9.93 acres of land for building or investment.
      Xxx ROAD 1500, La Plata, NM 87418
      View Details
    • $74,000

      20 Acres in La Plata

      20 acres of land for building or investment.
      Xx NM 574, La Plata, NM 87418
      View Details

    FAQs

    What type of property is this?
    Farm - Land with home site and development potential in La Plata.
    Where is this farm located?
    The property is located at Tract S1 ROAD 1191 La Plata, NM.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Approximately 89.9 acres.; Borders CR 1191.; Beautiful home site overlooking the farm.
    (505) 320-6888
    We can help!
    Listing Contact
    David Harris
    Real Estate License ID: 12831
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!