Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    516 Austin St Truth or Consequences, NM

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,279,000

    Historic district property with hot springs, inn, and residences.

    Type:RETAIL
    Property size:
    5,528 SF
    Lot size:
    0.41 Acres
    Added:
    May 27, 2025
    Days on Market:
    310
    Last Refresh:
    Mar 29 at 9:43 pm

    Property Features for 516 Austin St

    General Information

    Standard status
    Active
    Size
    5,528 SF
    Lot size
    0.41 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Randy McMillan
    Randy McMillan

    Listing agent Randy McMillan License #6572

    Listing office NAI 1st Valley Realty

    Listing date May 27, 2025

    Source Moodyscre

    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 NAI 1st Valley Realty

    Overview

    Hoosier Hot Springs Historic District

    Hoosier Hot Springs is situated within the Hot Springs Bathhouse and Commercial Historic District in Truth or Consequences, a 56-acre area recognized on the National Register of Historic Places since 2005. The property encompasses a total area of 5528 square feet and features multiple lines of business. These include hot springs, which were renovated and reopened to the public in early 2024. Additionally, there is an inn offering short-term rentals, consisting of five renovated units that include four suites and one room, which opened in November 2024. The property also provides residential long-term rentals, with a total of seven units comprising four one-bedroom units and three studio apartments. Most of the property has been completely remodeled.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Truth or Consequences
    County
    Sierra
    State
    New Mexico
    Longitude
    -107.256
    Latitude
    33.1274

    Nearby Similar for Sale

    • $949,900

      Restored Mixed-Use Building in Downtown

      Restored mixed-use commercial/residential building with solar array and upgrades.
      402 Main Avenue, Truth or Consequences, NM 87901
      View Details
    • $1,610,000
      10,640 SF

      Dollar General Investment Opportunity

      Dollar General in Truth or Consequences, New Mexico for sale.
      971 S Broadway St, Truth or Consequences, NM 87901
      View Details
    • $5,200,000
      43,083 SF

      Comfort Inn & Suites Hotel

      50-room hotel with amenities near Spaceport America.
      2205 N Date St, Truth or Consequences, NM 87901
      View Details
    • $2,279,000
      5,528 SF

      Hoosier Hot Springs & Inn

      Historic hot springs and inn with short and long-term rentals.
      516 Austin St, Truth or Consequences, NM 87901
      View Details

    FAQs

    What type of property is this?
    Apartment building - Historic district property with hot springs, inn, and residences.
    Where is this apartment building located?
    The property is located at 516 Austin St Truth or Consequences, NM.
    What is the asking price?
    The asking price for this property is $2,279,000.
    What are key features of this property?
    This property features: Completely remodeled property.; Three lines of business: Hot Springs, Inn/Short Term Rentals, and Residences/Long Term Rentals.; Located in the Hot Springs Bathhouse and Commercial Historic District.
    (575) 640-7213
    We can help!
    Listing Contact
    Randy McMillan
    Randy McMillan
    Real Estate License ID: 6572
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!