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    Tract 3 Benavidez Rnch Rio Rancho, NM 87124

    For Sale
    $361,800

    Prime NM land, agricultural & residential potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 402-acre property, known as Benavidez Ranch Tract 3, presents a unique investment opportunity in Sandoval County, New Mexico. Located just 20 miles from downtown Albuquerque and boasting a Rural Residential-Agriculture zoning designation (APN: R183176), this land offers diverse development possibilities. Priced at $361,800 ($900/acre), the property has a rich history, originally granted by the King of Spain and owned by the same family for generations. Currently, the land is utilized for grazing, having been leased for decades, demonstrating its suitability for agricultural purposes. The terrain is characterized by rolling hills descending towards the Rio Puerco River Basin. Convenient access is provided via a county road. Furthermore, active water wells are situated in the immediate vicinity, offering a significant advantage for potential development projects. This expansive tract combines historical significance with practical utility, making it an attractive proposition for investors seeking a blend of agricultural and residential potential in a desirable New Mexico location. The property's address is Benavidez Ranch Tract 3, Albuquerque, NM 87124.

    Property Features for Tract 3 Benavidez Rnch

    General Information

    Property type
    Farms
    Lot Size
    17,511,120 SF

    HighLights

    • Historically significant land grant from the King of Spain.
    • County road access.
    • Decades of grazing lease history.
    • Sandoval County location, 20 miles from Albuquerque.
    • Active water wells nearby.
    • Rolling terrain leading to the Rio Puerco River Basin.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Rio Rancho
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.6968553
    Latitude
    35.2416127

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    FAQs

    What type of property is this?
    Farm - Prime NM land, agricultural & residential potential.
    Where is this farm located?
    The property is located at Tract 3 Benavidez Rnch Rio Rancho, NM.
    What is the asking price?
    The asking price for this property is $361,800.
    What are key features of this property?
    This property features: Historically significant land grant from the King of Spain.; County road access.; Decades of grazing lease history.
    Request Owner's contact information
    Tract 3 Benavidez Rnch Rio Rancho, NM 87124
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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
    Tract 3 Benavidez Rnch Rio Rancho, NM 87124
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