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    601 1St St Artesia, NM 88210

    For Sale
    $699,000

    Established Restaurant, Turnkey Opportunity

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 6,000 square foot restaurant building, situated on a spacious 1.15-acre lot at 601 South 1st Street in Artesia, New Mexico, presents a unique owner-user investment opportunity. Previously home to the well-known Pecos Diamond Steakhouse, this single-story building offers a turnkey solution for a new culinary venture. The asking price is $699,000, translating to $116.50 per square foot, with an attractive 8.00% cap rate. The property boasts ample parking, a significant advantage in a high-traffic area. The sale includes some existing furniture, fixtures, and equipment (FF&E), providing a head start for the new owner. Located in Eddy County, New Mexico, with the address 601 S 1st St, Artesia, NM 88210 (32.8367882, -104.3966048), this property benefits from its established location and high visibility. The building's single-tenant occupancy simplifies management, and the substantial lot size offers potential for expansion or future development. This is an ideal opportunity for an experienced restaurateur seeking an established location or an investor looking for a strong return on investment in a thriving community. The property is ready for immediate occupancy and offers significant potential for a successful business.

    Property Features for 601 1St St

    General Information

    Property type
    Restaurants
    Square Feet
    6,000 SF
    Lot Size
    50,094 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 6,000 SF restaurant building on a 1.15‑acre lot in Artesia, NM.
    • Previously the Pecos Diamond Steakhouse; some FF&E included.
    • Ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Artesia
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.3966048
    Latitude
    32.8367882

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, Turnkey Opportunity
    Where is this restaurant located?
    The property is located at 601 1St St Artesia, NM.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 6,000 SF restaurant building on a 1.15-acre lot in Artesia, NM.; Previously the Pecos Diamond Steakhouse; some FF&E included.; Ample parking.
    Request Owner's contact information
    601 1St St Artesia, NM 88210
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    Artesia, NM 88210
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    Realmo Value Estimation

    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.

    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.

    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
    601 1St St Artesia, NM 88210
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