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    Ilfeld Warehouse with Film Studio Title is generated by Realmo AI

    2116 Frontage Rd., Ilfeld, NM 87562

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    Claim this Listing
    Pending
    $2,250/Mo $9 SF/Yr (calc)

    COMMERCIAL - Ilfeld, NM

    Property size:
    3,000 SF
    Lot size:
    3.00 Acres
    Added:
    May 20, 2026
    Days on Market:
    8
    Last Refresh:
    May 27 at 3:06 pm

    Property Features for 2116 Frontage Rd.

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    20
    Security features
    Security
    Standard status
    Pending
    Size
    3,000 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Description
    Parcel Seven(7) containing 2.697 acres, more or less, within Small Holding Claim 5578, Tract 1, Section 20, Township 14 North, Range 13 East, NMPM, San Miguel County, New Mexico, as shown on plat of survey by Winston & Associates, Inc., dated January 8, 1993, drawing no. 92225, filed in the office of the San Miguel County Clerk, March 9, 1993 in Plat Book 23, page 22, document no. 2384.

    Utilities

    Heating system
    Radiant, Radiant Floor
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    2010
    Flooring type
    Concrete
    Building materials
    Frame, MetalSiding

    We can help!

    Listing Contact
    Alicia Bertram
    Alicia Bertram

    Listing agent Alicia Bertram License #48316

    Listing office SF Brown Real Estate 2905 Rodeo Park Drive E #4, Santa Fe, NM

    Listing date May 20, 2026

    MLS# 202602185

    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

    • 3,000 sq ft open warehouse space on almost three acres
    • 600 AMP electrical service
    • Fiber optic internet available
    • Fully gated and secured with 10‑camera security system and onsite recording
    • Forced AC and heat, plus radiant floor heating
    • Water well access and propane on site

    Overview

    This state-of-the-art, steel construction warehouse is available for rent. The property, situated on a lot of approximately 3 acres, features a gated and secured perimeter. The warehouse provides an open 3,000 square feet of space. Previously used as a film and production studio, the warehouse includes an infinity wall and a faux metal warehouse wall for filming an industrial look. It is equipped with a 600 AMP electrical service and fiber optic internet. A security system with 10 cameras and an onsite recording system is in place. The property has water well access and propane. The warehouse is equipped with forced air conditioning and heating, as well as radiant floor heating. The current owner uses a portable toilet but is open to building a bathroom under mutually agreeable terms, as he is a general contractor. The property is located in Ilfeld, New Mexico.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Map

    City
    Ilfeld
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.5727385
    Latitude
    35.41819225

    FAQs

    What type of property is this?
    Warehouse - Secured warehouse with film studio features and high power.
    Where is this warehouse located?
    The property is located at 2116 Frontage Rd. Ilfeld, NM.
    What is the lease rate?
    The lease rate is $2,250 /Mo.
    What are key features of this property?
    This property features: 3,000 sq ft open warehouse space on almost three acres; 600 AMP electrical service; Fiber optic internet available
    (505) 930-0520
    We can help!
    Listing Contact
    Alicia Bertram
    Alicia Bertram
    Real Estate License ID: 48316
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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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    2116 Frontage Rd., Ilfeld, NM 87562
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