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    1130-1104-1106 Grand Ave Las Vegas, NM 87701

    For Sale
    $1,650,000

    Historic Las Vegas, NM income property

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional commercial property in historic Las Vegas, New Mexico, presents a unique investment opportunity. The Hillcrest Complex, situated on Grand Avenue, the city's main thoroughfare, comprises a main building housing a coffee shop, dining area, and a banquet-capable Flamingo Room. A full basement with exterior access is ideal for deliveries. Attached is the Trading Post Saloon, complete with an outdoor patio. The property also includes a three-bedroom apartment upstairs. A spacious parking lot connects to the Grand Street Station, perfect for private events. A vacant lot is included, offering potential for expansion. The sale includes a liquor license, usable for special events or as a picnic license, approved by the city. Established in 1949, the Hillcrest Complex offers a proven track record of income generation, with a reported 9% cap rate. Las Vegas, NM, boasts a vibrant community with higher education institutions (Highlands University, Luna Vocational Technical, and United World College), a hospital, and convenient access to I-25, providing easy connections to Santa Fe (approximately one hour away) and the Colorado border (approximately three hours away). This is a rare chance to acquire a well-established, income-producing business in a thriving historic community.

    Property Features for 0 1130-1104-1106 Grand Ave

    General Information

    Property type
    Land

    Building Details

    Year Built
    1949

    HighLights

    • Historic Las Vegas, NM commercial property on Grand Avenue.
    • Main building includes coffee shop, dining area, and banquet room; attached Trading Post Saloon with patio; plus a three‑bedroom apartment.
    • Full basement with exterior access.
    • Spacious parking lot with Grand Street Station access.
    • Includes vacant lot for expansion and a transferable liquor license.
    • 9% cap rate; established in 1949.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.2116128
    Latitude
    35.6031142

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    FAQs

    What type of property is this?
    Land - Historic Las Vegas, NM income property
    Where is this land located?
    The property is located at 1130-1104-1106 Grand Ave Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Historic Las Vegas, NM commercial property on Grand Avenue.; Main building includes coffee shop, dining area, and banquet room; attached Trading Post Saloon with patio; plus a three-bedroom apartment.; Full basement with exterior access.
    Request Owner's contact information
    1130-1104-1106 Grand Ave 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
    1130-1104-1106 Grand Ave Las Vegas, NM 87701
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