Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corrales Land with Panoramic Views Title is generated by Realmo AI

    75 CALLE ROJA, Corrales, NM 87048

    View on Map
    Claim this Listing
    For Sale
    $185,000

    LAND - Corrales, NM

    Lot size:
    0.96 Acres
    Added:
    Sep 13, 2025
    Days on Market:
    243
    Last Refresh:
    May 13 at 4:06 am

    Property Features for 75 CALLE ROJA

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R183719
    Lot size
    0.96 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1700

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Molly L Miller

    Listing agent Molly L Miller License #49664

    Listing office Keller Williams Realty 6240 Riverside Plaza NW #100, Albuquerque, NM

    Listing date Sep 13, 2025

    MLS# 1092293 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

    • Priced below assessed value.
    • Breathtaking panoramic views of the city and New Mexico landscape.
    • Nearly one‑acre property.
    • Concrete pad already in place, outlining the perfect homesite.
    • Most utilities available on‑site.
    • Water source: Well.

    Overview

    This nearly one-acre property, situated in Corrales, New Mexico, offers panoramic views. The lot features a concrete pad, outlining a potential homesite. Most utilities are available on-site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    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
    Corrales
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.639722
    Latitude
    35.239802

    Nearby Similar for Sale

    • $445,000

      Land in Corrales, New Mexico

      Land for sale in Corrales, New Mexico.
      420 Pueblito Road, Corrales, NM 87048
      View Details
    • $430,000

      Corrales Land with Mountain Views

      One-acre custom home lot in the heart of Corrales.
      525 Coronado Road, Corrales, NM 87048
      View Details
    • $435,000

      Land in Corrales, New Mexico

      1.09 acre commercial land for sale in Corrales.
      390 Pueblito Lane, Corrales, NM 87048
      View Details
    • $560,000

      Expansive Land with Mountain Views

      3.41-acre lot in Corrales with 360-degree mountain views.
      Desert Luna Road, Corrales, NM 87048
      View Details
    • $275,000

      Corrales Land with Horse Facilities

      One-acre lot in Corrales with horse facilities and sheds.
      585 Angel Road, Corrales, NM 87048
      View Details
    • $375,500

      Corrales Land with Mountain Views

      1.09-acre lot in Corrales with Sandia Mountain views.
      60 Blue Sky, Corrales, NM 87048
      View Details
    • $325,000

      Corrales Land with Mountain Views

      1.1 acre lot with utilities and owner financing.
      Loma Larga 147B Road, Corrales, NM 87048
      View Details
    • $325,500

      Corrales Land with Mountain Views

      One-acre lot in Corrales with Sandia Mountain views.
      20 Blue Sky, Corrales, NM 87048
      View Details
    • $355,000

      Corrales, NM: 1-Acre Home Lot

      1-acre lot in Corrales with mountain views, ready for building.
      40 Blue Sky, Corrales, NM 87048
      View Details
    • $375,500

      Corrales Land with Mountain Views

      1.09-acre lot in Corrales with Sandia Mountain views.
      60 Blue Sky, Corrales, NM 87048
      View Details
    • $325,500

      Corrales Land with Mountain Views

      One-acre lot in Corrales with Sandia Mountain views.
      20 Blue Sky, Corrales, NM 87048
      View Details
    • $355,000

      Corrales Land with Mountain Views

      One-acre lot in Corrales with Sandia Mountain views.
      40 Blue Sky, Corrales, NM 87048
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Nearly one-acre lot with concrete pad and available utilities.
    Where is this residential land & home lot located?
    The property is located at 75 CALLE ROJA Corrales, NM.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: Priced below assessed value.; Breathtaking panoramic views of the city and New Mexico landscape.; Nearly one‑acre property.
    (505) 300-6609
    We can help!
    Listing Contact
    Molly L Miller
    Real Estate License ID: 49664
    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
    75 CALLE ROJA, Corrales, NM 87048
    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!