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

    1606 7Th St Las Vegas, NM 87701

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Recently renovated retail property with a strong, medical-anchored tenant.

    Property size:
    7,400 SF
    Lot size:
    0.71 Acres

    Property Features for 1606 7Th St

    General Information

    Size
    7,400 SF
    Lot size
    0.71 Acres

    We can help!

    Listing Contact
    Rita Cordova
    Rita Cordova
    Source: Moodyscre

    Listing Agent: Rita Cordova

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Property with Medical Anchor

    This is a multi-tenant building with a master guarantor, anchored by a strong tenant with multiple locations throughout the Southwest. The property was recently renovated in 2020 and offers excellent visibility. The offering is structured as a 10-year absolute NNN sale-leaseback, with zero landlord responsibilities. The property has a size of 7,400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Las Vegas Smoke (Bike/Boat/Book/etc) Store Aura Salon Barber Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.2228321
    Latitude
    35.6069934

    Nearby Similar for Sale

    • New
      $320,000
      1,500 SF

      Versatile Income Property Opportunity

      Two homes on one lot, ideal for investors.
      1231 5Th St, Las Vegas, NM 87701
      View Details
    • New
      $599,000
      1,800 SF

      Updated Investment Property Near Plaza

      Three updated units near historic Las Vegas, New Mexico plaza.
      322 Moreno St, Las Vegas, NM 87701
      View Details
    • $275,000
      Pending

      Las Vegas Multifamily Income Property

      Five-unit apartment building in Las Vegas, New Mexico.
      909 5Th St, Las Vegas, NM 87701
      View Details
    • $999,999
      5,000 SF

      Las Vegas Commercial Property For Sale

      5000 sq ft commercial property in Las Vegas, New Mexico.
      2404 7Th St, Las Vegas, NM 87701
      View Details
    • Contact for pricing
      3,600 SF

      Burger King Restaurant For Sale

      Burger King restaurant with 13 years remaining on NNN lease.
      1335 Grand Ave, Las Vegas, NM 87701
      View Details
    • Contact for pricing
      11,003 SF

      Las Vegas Retail Strip Center

      Anchored strip center with high visibility in Las Vegas, NM.
      1654 7Th St, Las Vegas, NM 87701
      View Details
    • $1,050,000
      6,121 SF

      Deluxe Ranch with Barn Apartment

      42-acre ranch featuring a stable with a 1600 sq. ft. apartment.
      36 Penny Ln, Las Vegas, NM 87701
      View Details
    • $1,385,000
      15,000 SF

      Historic Plaza Mixed-Use Opportunity

      Historic mixed-use property with retail and residential space on Plaza.
      1801 Plaza St, Las Vegas, NM 87701
      View Details
    • $475,000
      1 SF

      Historic Las Vegas Office Building

      Charming Downtown Office, Retail Potential
      1116 National St, Las Vegas, NM 87701
      View Details
    • $495,000
      5,000 SF

      Historic Bridge Street Mixed-Use Building

      Mixed-use building in historic district with residential and commercial potential.
      158 Bridge St, Las Vegas, NM 87701
      View Details
    • $166,900
      Pending

      Income-Generating Duplex Near Highlands University

      Duplex with rental income potential near restaurants and Highlands University.
      1412 8Th St, Las Vegas, NM 87701
      View Details
    • $166,900
      Pending

      Income-Generating Duplex Near University

      Duplex with rental income potential near Highlands University.
      1412 8Th St, Las Vegas, NM 87701
      View Details

    FAQs

    What type of property is this?
    Shopping center - Recently renovated retail property with a strong, medical-anchored tenant.
    Where is this shopping center located?
    The property is located at 1606 7Th St Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $2,072,000.
    What are key features of this property?
    This property features: - 10 year absolute NNN sale - leaseback, offering zero landlord responsibilities.; - Medical anchored, providing stability and consistent traffic.; - Multi-tenant building with master guarantor.
    (505) 346-6006 Call to check price and availability
    Request Owner's contact information
    1606 7Th St Las Vegas, NM 87701
    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.
    1606 7Th St
    Las Vegas, NM 87701
    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
    1606 7Th St Las Vegas, NM 87701
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rita Cordova
    Rita Cordova
    (505) 346-6006 (505) 489-8538
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!