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    Established Market in Penasco, NM Title is generated by Realmo AI

    15066 NM Hwy 75, Penasco, NM 87553

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    Claim this Listing
    For Sale
    $350,000

    SINGLE_FAMILY - Penasco, NM

    Type:Retail
    Lot size:
    0.72 Acres
    Added:
    Jul 28, 2025
    Days on Market:
    307
    Last Refresh:
    May 30 at 1:06 am

    Property Features for 15066 NM Hwy 75

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    APN
    1068132218338
    Lot size
    0.72 Acres

    Taxes and HOA fees

    Tax Description
    TBD by title & survey. Section 5, T22N, R12E, NMPM, w/in Picuris Pueblo Grant. 0.71 Acres +/-.

    Building Details

    Number of units
    3

    We can help!

    Listing Contact
    Nova Sheppard

    Listing agent Nova Sheppard License #REC 2023-0119

    Listing office Berkshire Hathaway HomeServices Taos Real Estate 314 A Paseo del Pueblo Norte, Taos, NM

    Listing date Jul 28, 2025

    MLS# 113777

    Copyright © 2026 Enchanted Circle Association 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.

    HighLights

    • Proven Profitability: Long history of strong cash flow, stable sales, and income.
    • Dual Income Potential: Features a 4160 sq ft market/store and a separate 1344 sq ft space for additional rental income.
    • Prime Location: Situated on the main highway in the heart of Penasco, offering excellent visibility.
    • Community Cornerstone: A well‑established and beloved family‑owned business with a loyal customer base.
    • Future Growth Potential: Ample lot size (0.72 acres) provides flexibility for future development.
    • Growing Community: Penasco is a growing community with a blend of suburban and rural living.

    Overview

    This commercial property in Penasco, New Mexico, offers the opportunity to acquire a well-established family-owned food market and convenience store. Located on the main highway, the store has visibility, access, parking, and traffic flow. The property has a history of cash flow, sales, and income, making it a profitable investment. The property includes a 4160 sq ft market and convenience store, and a separate 1344 sq ft space suitable for an additional tenant, providing rental income and expansion possibilities. Situated on a 0.72-acre lot in the heart of Penasco, the property benefits from high visibility and easy access for local residents and travelers. As a long-standing business, the store has a customer base and ties to the local culture and economy. The extra space and lot size provide flexibility for future development or diversification of business offerings. A 2-bay car wash could be re-commissioned. Penasco offers a blend of suburban and rural living, attracting both long-time residents and newcomers. The area is known for its natural beauty and proximity to outdoor recreation opportunities, attracting tourists and residents. The community and steady traffic flow create a favorable environment for this type of business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Penasco
    County
    Taos
    State
    New Mexico
    Longitude
    -105.6876745
    Latitude
    36.1710896

    FAQs

    What type of property is this?
    Grocery and convenience store - Profitable market and convenience store with additional rental space.
    Where is this grocery and convenience store located?
    The property is located at 15066 NM Hwy 75 Penasco, NM.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Proven Profitability: Long history of strong cash flow, stable sales, and income.; Dual Income Potential: Features a 4160 sq ft market/store and a separate 1344 sq ft space for additional rental income.; Prime Location: Situated on the main highway in the heart of Penasco, offering excellent visibility.
    (575) 758-1924
    We can help!
    Listing Contact
    Nova Sheppard
    Real Estate License ID: REC 2023-0119
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    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
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    15066 NM Hwy 75, Penasco, NM 87553
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