Building Details

Year Built 1968

Listing Agency: Keller Williams Realty Show Phone

Listed By: Missy Ashcraft Show Phone

Source: Missyashcraft

Added: Sep 16 Changed: Nov 5 Last Checked: Nov 4 at 1:50PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4,102-square-foot adobe property combines a primary residence with two separate casitas and is approved as a triplex by the Village of Corrales. The main home features wood flooring, exposed beams, plaster walls, and two kiva fireplaces, along with distinct east- and west-facing courtyards. Each casita includes brick flooring, beamed ceilings, and a private fenced yard.

Set on a one-acre A-1 zoned lot in Corrales, the property includes privately metered units and room for horses and other animals. Sandia Mountain views complement the setting, while the separate dwellings provide a flexible residential configuration. The property was built in 1968 and reflects traditional New Mexican design throughout.

Key Highlights

• Approved triplex configuration with one main residence and 2 casitas
• 4,102 SF property on a one‑acre A‑1 zoned lot
• Two kiva fireplaces, wood floors, beamed ceilings, and plaster walls in the main home

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,190

Cap Rate

3.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$683,800 $683.8K

Cap Rate 7%

$488,429 $488.4K

Cap Rate 9%

$379,889 $379.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,102 SF

Gross rent

$51.7K $12.60/SF

− Vacancy

−$2.8K −$0.69/SF

EGI

$48.8K $11.91/SF

− OpEx

−$14.7K −$3.57/SF

NOI

$34.2K $8.33/SF

Area

Sandoval County, NM

Vacancy

5.50%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$683,800

Cap Rate 7%

$488,429

Cap Rate 9%

$379,889

Alternative Uses

Best Use

Multifamily LT 5

$488.4K

$427.4K – $569.8K (±1% cap)

NOI $34,190 @ 7.0% cap · market cap 3.66%

Second Best

Apartment 5plus

$447.2K

$391.3K – $521.7K (±1% cap)

NOI $31,302 @ 7.0% cap · market cap 3.35%

Theoretical Best

Office A

$833.9K

$729.7K – $972.9K (±1% cap)

NOI $58,372 @ 7.0% cap · market cap 6.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

91

Businesses Nearby

Explore this area Business Placement

Demographics for 87048, NM

8,888

Population

4,079

Households

2.2

Avg Household Size

58

Median Age

51%

College-Educated

96%

High-School Grad

11.0 sq mi

ZIP Area

808

Density / Sq Mi

$112,716

Median Household Income

$53,479

Median Earnings

$1,184

Median Rent

$552,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Approved triplex with two privately metered casitas and thoughtfully designed indoor-outdoor living areas.

Where is this triplex located?

The property is located at 250 Moongate Rd Corrales, NM.

What is the asking price?

The asking price for this property is $933,000.

What are key features of this property?

This property features: Approved triplex configuration with one main residence and 2 casitas; 4,102 SF property on a one‑acre A‑1 zoned lot; Two kiva fireplaces, wood floors, beamed ceilings, and plaster walls in the main home