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

    845 N Riverside Dr, Espanola, NM 87532

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land tract available for sale, zoned for commercial and residential.

    Type:Land
    Lot size:
    9.37 Acres
    Added:
    Oct 28, 2022
    Days on Market:
    1314
    Last Refresh:
    May 20 at 12:40 am

    Property Features for 845 N Riverside Dr

    General Information

    Standard status
    Active
    Lot size
    9.37 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Joel Cumplido

    Listing agent Joel Cumplido License #NM 51964

    Listing office Garsa Group

    Listing date Oct 28, 2022

    Source Crexi

    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 Garsa Group

    HighLights

    • ±9.37 Acre Tract Available
    • Sale Price: $1,500,000 ($3.67/SF)
    • Zoned B‑2 (General Commercial)
    • Zoned R‑6 (Urban Residential)
    • Zoned R‑M (Residential - Multifamily)
    • Pad Site: See Advisor

    Overview

    A land tract of approximately 9.37 acres is available for sale. The sale price is $1,500,000, which equates to $3.67 per square foot. The zoning includes B-2, General Commercial; R-6, Urban Residential; and R-M, Residential - Multifamily. A pad site is available; further details can be obtained from an advisor.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Espanola
    County
    Rio Arriba
    State
    New Mexico
    Longitude
    -106.06315
    Latitude
    36.00256

    Nearby Similar for Sale

    • $975,000
      5,350 SF

      Espanola Office Building For Sale

      5,350 SF office building on 1.26 acres in Espanola.
      1119-1121 Santa Clara Peak, Espanola, NM 87532
      View Details
    • $480,000
      2,322 SF

      Updated Duplex in Espanola, NM

      Remodeled duplex with new features, ideal for owner-occupants or investors.
      1891 & 1893 Canada Court, Espanola, NM 87532
      View Details
    • $315,000

      Spacious Fenced Lot in Espanola

      0.62-acre lot with utilities, mobile home, near High Road.
      1814 State RD 76, Espanola, NM 87532
      View Details
    • $100,000

      Espanola Land with Water Rights

      1.019 acre vacant land with water rights in Espanola.
      Camino Arbolera, Espanola, NM 87532
      View Details
    • $300,000

      Land For Sale Espanola, NM

      5.28 acre land parcel available in Espanola, New Mexico.
      84/285 Hennigan lot: C, Espanola, NM 87532
      View Details
    • $135,000

      Espanola Land with Mountain Views

      0.86 acre lot with mountain views near Santa Fe.
      County Rd 126 lot: 1, Espanola, NM 87532
      View Details
    • $139,000

      Centrally-Located Lot in Espanola, NM

      0.69 acre lot with irrigation rights in Fairview/Espanola.
      La Joya Street, Espanola, NM 87532
      View Details
    • $135,000

      Centrally-Located Land in Espanola, NM

      0.60 acre lot with irrigation rights and mountain views.
      La Joya Street, Espanola, NM 87532
      View Details
    • $225,000
      500,678 SF

      Espanola Land For Sale

      3.21 acres of land available in Espanola, New Mexico.
      84/285 Hennigan lot: B, Espanola, NM 87532
      View Details
    • $295,000

      Espanola Land with Water Rights

      2.89-acre lot with water rights in central Espanola.
      Chamisal St, Espanola, NM 87532
      View Details
    • $447,000
      2,730 SF

      Espanola Restaurant and Bar on Plaza

      Turnkey restaurant and bar on the Plaza in Espanola.
      100 Los Alamos, Espanola, NM 87532
      View Details
    • $250,000
      1,820 SF

      Espanola Commercial Building with Garage

      Versatile commercial building with office space and service garage.
      711 Paseo De Onate, Espanola, NM 87532
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land tract available for sale, zoned for commercial and residential.
    Where is this commercial land located?
    The property is located at 845 N Riverside Dr Espanola, NM.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: ±9.37 Acre Tract Available; Sale Price: $1,500,000 ($3.67/SF); Zoned B‑2 (General Commercial)
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joel Cumplido
    Real Estate License ID: NM 51964
    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
    845 N Riverside Dr, Espaola, NM 87532
    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!