Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Los Lunas Land with Utilities Title is generated by Realmo AI

    241 El Cerro Lp, Los Lunas, NM 87031

    View on Map
    Claim this Listing
    For Sale
    $255,000

    LAND - Los Lunas, NM

    Lot size:
    2.55 Acres
    Added:
    May 10, 2024
    Days on Market:
    735
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 241 El Cerro Lp

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Fenced
    Standard status
    Active
    APN
    1012036463447
    Lot size
    2.55 Acres

    Taxes and HOA fees

    Tax Description
    Tract: 42 S: 1 T: 6N R: 2E 2.55 ACRES MAP 78 1987 REV
    Tax Annual Amount
    1245

    Utilities

    Sewer type
    Septic Tank
    Water source
    Private, Well

    We can help!

    Listing Contact
    Arthur Carrasco

    Listing agent Arthur Carrasco License #15037

    Listing office Creative Corporation 5353 Wyoming Blvd NE Ste C, albuquerque, NM

    Listing date May 10, 2024

    MLS# 1062526 Listing URL

    Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Lot has existing utilities.
    • Includes irrigation rights.
    • Property is fenced.
    • Water source is private well.
    • Sewer is septic tank.
    • Current single‑family residence on lot.

    Overview

    This 2.55-acre property in Los Lunas, New Mexico, offers considerable potential. The lot includes utilities and a single-family residence that requires repair. Irrigation rights are included with the lot. Additional structures are present on the property. The property is sold as is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Kitchen & Bath Showroom Electrical Service Plumbing Service Pet Store Carpet & Flooring Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Lunas
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.677754
    Latitude
    34.780035

    Nearby Similar for Sale

    • $525,000

      Renovated Live-Work Property in Los Lunas

      Fully renovated 5-bed, 4-bath property with live-work potential.
      1067 New Mexico 314 NW, Los Lunas, NM 87031
      View Details
    • $600,000
      3,240 SF

      Los Lunas Fourplex Opportunity

      Fourplex in Los Lunas near schools, restaurants, and stores.
      1345-1351 LOS LENTES Road NE, Los Lunas, NM 87031
      View Details
    • $595,000

      Retail Property in Growing Los Lunas

      Fully occupied retail property on a corner lot in Los Lunas.
      3378 HIGHWAY 47, Los Lunas, NM 87031
      View Details
    • $888,860
      12,698 SF

      Los Lunas Office Building For Sale

      12,698 SF office building on 1.482 acres in Los Lunas.
      428 Los Lentes Rd. SE, Los Lunas, NM 87031
      View Details
    • $1,350,000
      8,200 SF

      Los Lunas Warehouse For Sale

      Stand-alone warehouse in Los Lunas, NM, with established tenant.
      111 Lujan Rd. SE, Los Lunas, NM 87031
      View Details
    • $830,000
      3,350 SF

      Retail Strip Center For Sale

      Fully leased retail strip center in Los Lunas, New Mexico.
      3459 Highway 47, Los Lunas, NM
      View Details
    • $3,400

      Land with Mountain Views

      Land for sale featuring mountain views in Los Lunas.
      Rio Del Oro, Los Lunas, NM 87031
      View Details
    • $925,000

      Los Lunas Commercial Investment Property

      Two buildings leased to Optum on 1.25 acres.
      111 & 127 Sandoval Road, Los Lunas, NM 87031
      View Details
    • $1,310,000

      Los Lunas Retail Stripcenter

      Six-unit retail stripcenter with one vacancy in Los Lunas, NM.
      959 NM-314, Los Lunas, NM
      View Details
    • $3,000,000

      Los Lunas Mobile Home Park

      Mobile home park and storage units in Los Lunas, New Mexico.
      3149 Highway 47, Los Lunas, NM
      View Details
    • Contact for pricing
      13,600 SF

      Los Lunas Fourplex Investment Opportunity

      Four fourplexes near Rail Runner Station in Los Lunas.
      274 Village Drive, Los Lunas, NM 87031
      View Details
    • $899,600
      12,698 SF

      Los Lunas Office Space

      12,698 SF office building on 1.482 acres.
      428 Los Lentes Rd SE, Los Lunas, NM 87031
      View Details

    FAQs

    What type of property is this?
    Single family property - 2.55 acre lot with utilities and single-family residence.
    Where is this single family property located?
    The property is located at 241 El Cerro Lp Los Lunas, NM.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: Lot has existing utilities.; Includes irrigation rights.; Property is fenced.
    (505) 259-1663
    We can help!
    Listing Contact
    Arthur Carrasco
    Real Estate License ID: 15037
    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

    Thank You for Inquiry
    241 El Cerro Lp, Los Lunas, NM 87031
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!