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    301 St. Ave Portales, NM 88130

    Sponsored
    For Sale
    $165,000

    Office Building & Two Lots, $165,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property in Portales, New Mexico, presents a unique investment opportunity. Encompassing a substantial 13,700 square foot lot, the property features a well-situated office building and two additional vacant lots. The office building, constructed in 1970 (estimated), boasts a welcoming lobby, three individual offices, a secure vault with shelving for storage, two bathrooms, and a convenient kitchen/break room. Modernized features include updated heating and cooling units (rooftop location) and an externally relocated gas line. The building is also equipped for phone lines, network connectivity, and internet access. A metal carport provides additional covered parking at the rear. The property's prime location is directly across from the Portales Best Western Hotel and the Portales fire department, ensuring high visibility and accessibility. Two additional lots offer significant development potential. A separate stucco house and garage on the property have been vacant for an extended period and are ready for renovation or demolition, allowing for new owners to customize the property to their specific needs. The property is located at 301 & 305 S B & 213 W 3rd St. Avenue, Portales, NM 88130. Lead-based paint information is available in the property documents. This is a rare opportunity to acquire a versatile commercial property in a desirable location.

    Property Features for 301 St. Ave

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1970

    HighLights

    • 13,700 SF lot with office building and two vacant lots in Portales, NM.
    • 1970s‑era office building (approx.) featuring three offices, vault, kitchen, two bathrooms, updated HVAC, and carport.
    • High‑visibility location across from Best Western and fire department.
    • Significant development potential with two additional vacant lots.
    • Separate vacant stucco house and garage on site, ideal for renovation or demolition.
    • Property located at 301 & 305 S B & 213 W 3rd St, Portales, NM 88130.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Portales
    County
    Roosevelt
    State
    New Mexico
    Longitude
    -103.336997
    Latitude
    34.1839439

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    FAQs

    What type of property is this?
    Office Property / Space - Office Building & Two Lots, $165,000
    Where is this office property / space located?
    The property is located at 301 St. Ave Portales, NM.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: 13,700 SF lot with office building and two vacant lots in Portales, NM.; 1970s-era office building (approx.) featuring three offices, vault, kitchen, two bathrooms, updated HVAC, and carport.; High-visibility location across from Best Western and fire department.
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    Portales, NM 88130
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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
    301 St. Ave Portales, NM 88130
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