Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    308 Main Ave Aztec, NM 87410

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Aztec, NM lot; approved for duplexes.

    Property Features for 308 Main Ave

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Allen Elmore
    Allen Elmore

    Listing Agency: EXP Realty, LLC Listing Agent: Allen Elmore

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 0 sq ft lot presents a remarkable investment opportunity in the heart of downtown Aztec, New Mexico. Conveniently located at 308 S MAIN Avenue, Aztec, NM 87410 (36.8199216, -107.9957548), this level building site offers significant potential for immediate development. The property has already received approval for the construction of two duplex units per owner, streamlining the development process and minimizing potential delays. This pre-approved status represents a substantial advantage, reducing the time and expense typically associated with obtaining necessary permits and approvals. Situated in San Juan County, this location provides easy access to the vibrant downtown area, offering proximity to local amenities, businesses, and services. Furthermore, its strategic location offers convenient access to Durango, Colorado, just a 40-minute drive away, expanding the potential market reach and appeal of any future development. Beyond the approved duplex plan, this versatile lot presents numerous other development possibilities, making it an attractive proposition for both experienced developers and investors seeking a promising venture in a thriving New Mexico community. The asking price for this exceptional property is $115,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency 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
    Aztec
    County
    San Juan
    State
    New Mexico
    Longitude
    -107.9957548
    Latitude
    36.8199216

    Nearby Similar for Sale

    • $595,000
      5,000 SF

      Aztec Industrial Building on Acreage

      5,000 SF warehouse/shop on 3.13 acres near Aztec.
      2901 Mcwilliams Rd, Aztec, NM 87410
      View Details
    • $626,750
      6,184 SF

      Versatile Commercial Building on Aztec Blvd

      6,184 sq ft commercial property with high visibility and accessibility.
      1607 W Aztec Blvd, Aztec, NM 87410
      View Details
    • $695,000
      2.05 Acres

      Aztec Industrial Commercial Property

      Industrial property with offices, grow rooms, and updated systems.
      104 Bison Trl, Aztec, NM 87410
      View Details
    • $795,000

      Commercial Property South of Aztec

      Industrial property with offices, grow rooms, and updated systems.
      104 Bison Trl, Aztec, NM 87410
      View Details
    • $486,000

      Commercial Building in Downtown Aztec

      Commercial building with business opportunities in thriving Aztec, New Mexico.
      118 E Chaco St, Aztec, NM 87410
      View Details
    • $695,000

      Large Commercial Property with Acreage

      76.15-acre commercial property with two buildings, suitable for various uses.
      49 Road 3150, Aztec, NM 87410
      View Details
    • $765,000

      Mixed-Use Building in High-Visibility Location

      Multi-unit property with retail, office, and residential spaces.
      105 W Chaco St, Aztec, NM 87410
      View Details
    • $695,000
      7,576 SF

      Aztec Commercial Land & Buildings

      76 Acres, Two Buildings, Huge Potential
      49 Road 3150, Aztec, NM 87410
      View Details
    • $309,000
      1.43 Acres

      Aztec Commercial Land - 1.43 Acres

      Prime Aztec location, ready for development. Nine lots, city utilities.
      450 Llano St, Aztec, NM 87410
      View Details
    • $500,569

      Tri-City Business Opportunity

      Car wash and automotive property with parking and office space.
      815 S Main Ave, Aztec, NM 87410
      View Details
    • $530,000
      15.50 Acres

      Aztec Commercial Land - 15.5 Acres

      Prime Commercial/Industrial Land, Ready to Build
      79 Road 3150, Aztec, NM 87410
      View Details
    • $1,250,000
      7.87 Acres

      Aztec Blvd Commercial Land Opportunity

      High-traffic 7.87-acre commercial lot.
      221 Aztec Blvd, Aztec, NM 87410
      View Details

    FAQs

    What type of property is this?
    Land - Prime Aztec, NM lot; approved for duplexes.
    Where is this land located?
    The property is located at 308 Main Ave Aztec, NM.
    What is the asking price?
    The asking price for this property is $115,000.
    What are key features of this property?
    This property features: $115,000 asking price.; Vacant land parcel.; 0 square feet (lot size to be verified).
    (505) 686-3831 Call to check price and availability
    Request Owner's contact information
    308 Main Ave Aztec, NM 87410
    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.
    308 Main Ave
    Aztec, NM 87410
    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
    308 Main Ave Aztec, NM 87410
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Allen Elmore
    Allen Elmore
    (505) 686-3831 (505) 554-3873 (941) 462-3321
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!