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    400 W 1St St Portales, NM 88130

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    For Sale
    $496,000

    Former bank building suitable for office or retail conversion.

    Property size:
    6,589 SF
    Lot size:
    0.99 Acres

    Property Features for 400 W 1St St

    General Information

    Size
    6,589 SF
    Lot size
    0.99 Acres

    Source: NAI 1st Valley Realty Agent Jake Redfearn

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

    Overview

    Former Bank Building For Sale

    The property, formerly a bank building, offers potential for conversion to office or retail use. A deed restriction is in place for three years, preventing banks or financial institutions from occupying the premises. The property occupies an entire block on 1st Street (US Hwy 70), a high-traffic area in Portales, with a nearby traffic count of 17,134 vehicles per day (NMDOT, 2023). Situated at an intersection with a traffic light, the location provides enhanced visibility and accessibility. It is located less than one mile from Eastern New Mexico University. Access to the property is available from three streets. The building has a size of 6,589 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    U.S. Bank Branch Bank ATM (U.S. Bank) Atm

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portales
    County
    Roosevelt
    State
    New Mexico
    Longitude
    -103.3406242
    Latitude
    34.1844447

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    FAQs

    What type of property is this?
    Office building - Former bank building suitable for office or retail conversion.
    Where is this office building located?
    The property is located at 400 W 1St St Portales, NM.
    What is the asking price?
    The asking price for this property is $496,000.
    What are key features of this property?
    This property features: - High traffic location on 1st Street (US Hwy 70) with 17,134 VPD.; - Entire block on 1st Street with access from three streets.; - Located at an intersection with a traffic light.
    (575) 635-5895
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    400 W 1St St Portales, NM 88130
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    Portales, NM 88130
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    Realmo Value Estimation

    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.

    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.

    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
    400 W 1St St Portales, NM 88130
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