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    794 Camino Los Abuelos Lamy, NM 87540

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    For Sale
    $1,989,000

    70-acre gated compound with equestrian facilities and panoramic views.

    Property size:
    2,662 SF
    Lot size:
    70.02 Acres

    Property Features for 794 Camino Los Abuelos

    General Information

    Standard status
    Active
    Size
    2,662 SF
    Lot size
    70.02 Acres

    We can help!

    Listing Contact
    Cynthia C. Sheff
    Source: Corcoran

    Listing Agency: SOTHEBY'S INT. RE/GRANT Listing Agent: Cynthia C. Sheff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Galisteo Equestrian Estate

    Located in Galisteo, this 70-acre gated compound offers privacy, panoramic views, and equestrian facilities near Santa Fe. The property includes three contiguous lots, providing both immediate usability and potential for future expansion. The main residence features Northern New Mexican architecture with wood-beamed high ceilings, plaster walls, an arched fireplace, two bedrooms, and a sleeping loft. A brick-floored portal extends the living space outdoors, featuring a covered dining area, an outdoor fireplace, and a hot tub with views of the Galisteo Basin and Cerro Pelon Ranch. Equestrian amenities include access to extensive riding trails, five fenced interlocking pastures, internal roads, and two horse and hay barns. There are no restrictions on the number of horses allowed. Additional structures include a detached guest casita, a bunkhouse, a garden workshop, and a large two-car garage with storage. The property has been manicured for horse activity. The two adjoining lots preserve unobstructed vistas while offering a compelling opportunity for future expansion. Located minutes from Eldorado shopping and within reach of Santa Fe and Albuquerque, Galisteo is known for its historic charm, artistic community, and high-desert landscapes. The property size is 2662 square feet.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lamy
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9657931
    Latitude
    35.4000731

    Nearby Similar for Sale

    • $850,000

      Galisteo Basin Ranch Opportunity

      320-acre ranch in conservation-based community near Santa Fe, NM.
      649 Camino Los Abuelos, Lamy, NM 87540
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 70-acre gated compound with equestrian facilities and panoramic views.
    Where is this horse & equestrian property located?
    The property is located at 794 Camino Los Abuelos Lamy, NM.
    What is the asking price?
    The asking price for this property is $1,989,000.
    What are key features of this property?
    This property features: - 70-acre gated compound offering true privacy and panoramic views.; - Fully realized equestrian lifestyle with **five fenced pastures, barns, and extensive riding trails.**; - Northern New Mexican-style main residence with **beamed ceilings, fireplace, and outdoor living space.**
    (505) 988-2533
    Request Owner's contact information
    794 Camino Los Abuelos Lamy, NM 87540
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    Lamy, NM 87540
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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
    794 Camino Los Abuelos Lamy, NM 87540
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    Listing Contact
    Cynthia C. Sheff
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