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    450 Francis Ave. Raton, NM 87740-4

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    Claim this Listing
    For Sale
    $2,400,000

    LAND - Raton, NM

    Property size:
    2,800 SF
    Lot size:
    290.23 Acres
    Price / SF:
    $857/SF
    Added:
    Feb 6, 2026
    Days on Market:
    85
    Last Refresh:
    May 2 at 3:06 am

    Property Features for 450 Francis Ave.

    General Information

    Property type
    Land
    Property subtype
    Other
    Fencing
    Perimeter, Fenced, Barbed Wire
    Standard status
    Active
    APN
    1135186255396
    Size
    2,800 SF
    Lot size
    290.23 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Section: OT: 31N Range: 23E DB89-P479 300 acres Land 1 Less:DB95-P400 16 acres, Less DB99-P259 App .5 acre Less DB120-P100 50.107 Acres Less DB141-P326 .5 acre Less:WD2-P5381 .873 acre Less WD9-P3236 1.792 acres TOTAL ACRES 230.228 (2 MI.FENCE)
    Tax Annual Amount
    3368

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Cassidae Chance
    Cassidae Chance

    Listing agent Cassidae Chance License #53610

    Listing office Home Associates, Inc 100 S Third Street, Raton, NM

    Listing date Feb 6, 2026

    MLS# 20260734 Listing URL

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

    Overview

    Raton Mountain Cabin Retreat

    This property features a log-sided, ranch-style cabin retreat situated in a mountain canyon setting. The 2,800+ square foot home includes 3 bedrooms and 2.5 bathrooms. Interior features include cherry cabinetry, a butler's pantry, large bedrooms, and a wood stove. The owner's suite has a private office suitable for remote work or flexible space, along with his and hers closets. The primary bath is equipped with a separate shower and a deep soaking tub. The residence offers two living rooms. The property's expansive acreage provides privacy, abundant wildlife, and recreational opportunities. Wildlife includes elk, mountain lions, turkey, bear, deer, and multiple bird species. The property comes with 7 either-sex elk tags. The property offers off-the-grid potential. It is located in Raton, Colfax County, New Mexico.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Auto Repair Shop Nail Salon Auto Parts Store Hotel & Motel Discount Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Raton
    County
    Colfax
    State
    New Mexico
    Longitude
    -104.4546819
    Latitude
    36.9108173

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    FAQs

    What type of property is this?
    Hunting land - Secluded mountain estate with abundant wildlife and recreational opportunities.
    Where is this hunting land located?
    The property is located at 450 Francis Ave. Raton, NM.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Includes 7 highly sought‑after either‑sex elk tags.; **Stunning 2,800+ sq ft log‑sided ranch cabin in a breathtaking mountain canyon setting.**; Abundant wildlife (elk, mountain lions, turkey, bear, deer) and recreational opportunities.
    (817) 471-8452
    We can help!
    Listing Contact
    Cassidae Chance
    Cassidae Chance
    Real Estate License ID: 53610
    Learn More
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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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    450 Francis Ave., Raton, NM 87740-450

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