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    1133 Grand Ave Las Vegas, NM 87701

    For Sale
    $215,000

    .82-acre lot, three buildings, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This unique commercial property in Las Vegas, New Mexico, presents a compelling investment opportunity. Located at 1133 Grand Avenue, this .82-acre lot (35,893.44 sq ft) boasts three existing buildings, offering significant potential for redevelopment or adaptive reuse. The property includes a two-story structure, formerly a motel office and pool changing room, now featuring two bedrooms and two bathrooms. A former restaurant/garage building and two vacant former hotel rooms (suitable for office conversion) are also present. The property benefits from a large private courtyard and over ten parking spaces. The current owner has undertaken several updates and artistic restorations, including a permanent flooring art installation, though further work is needed. The property is being sold "as is," and is zoned C-3. Conveniently located near I-25, restaurants, shopping, hotels, and the hospital, this property is approximately an hour from Santa Fe, making it an attractive location for a variety of commercial ventures. Built in 1940, this property offers a blend of character and potential, ideal for an investor with a vision for its future. The property's location in a commercial area of Las Vegas, NM, and its proximity to major transportation routes and amenities, make it a highly desirable investment.

    Property Features for 1133 Grand Ave

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1940

    HighLights

    • .82‑acre lot (35,893.44 sq ft) in Las Vegas, NM, at 1133 Grand Avenue.
    • Three existing buildings: a two‑bedroom, two‑bathroom structure (former motel office/pool changing room), a former restaurant/garage, and two vacant former hotel rooms.
    • Over ten parking spaces and a large private courtyard.
    • C‑3 zoning.
    • Located near I‑25, restaurants, shopping, hotels, and a hospital; approximately one hour from Santa Fe.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.2123275
    Latitude
    35.6032997

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    FAQs

    What type of property is this?
    Retail property - .82-acre lot, three buildings, high potential.
    Where is this retail property located?
    The property is located at 1133 Grand Ave Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: .82-acre lot (35,893.44 sq ft) in Las Vegas, NM, at 1133 Grand Avenue.; Three existing buildings: a two-bedroom, two-bathroom structure (former motel office/pool changing room), a former restaurant/garage, and two vacant former hotel rooms.; Over ten parking spaces and a large private courtyard.
    Request Owner's contact information
    1133 Grand Ave Las Vegas, NM 87701
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    Las Vegas, NM 87701
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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
    1133 Grand Ave Las Vegas, NM 87701
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