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    1302 Hermosa Dr St Artesia, NM 88210

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    For Sale
    Contact for pricing

    Prime Artesia commercial land, two buildings, ample parking.

    Property size:
    22,922 SF

    Property Features for 1302 Hermosa Dr St

    General Information

    Property type
    Land
    Square Feet
    22,922 SF
    Lot Size
    91,912 SF

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    Hannah Palomin
    Hannah Palomin

    Listing Agency: CENTURY 21 Black Gold Listing Agent: Hannah Palomin

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

    Learn more

    Overview

    This exceptional commercial property in Artesia, New Mexico, presents a unique investment opportunity. Located at 1302 Hermosa Drive Street, this 2.11-acre lot features two buildings totaling 22,922 square feet, constructed in 1955. The property boasts ample parking, situated on the corner of Hermosa Drive and 13th Street, offering excellent visibility and accessibility. One building is currently configured as a sanctuary with a capacity of approximately 225 people, currently operating at 80% occupancy. The second building serves as a fellowship hall and includes classrooms. Both buildings have recently undergone roof replacements. This versatile property offers a multitude of potential uses, making it an ideal investment for a variety of commercial ventures. The existing infrastructure provides a solid foundation for immediate use or redevelopment, capitalizing on the high-traffic location and substantial square footage. The asking price is $525,000. The property's zoning and permitted uses should be independently verified. This is a rare opportunity to acquire a substantial commercial property in a thriving New Mexico community. Don't miss out on this exceptional investment potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Artesia
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.4129291
    Latitude
    32.8282782

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    FAQs

    What type of property is this?
    Land - Prime Artesia commercial land, two buildings, ample parking.
    Where is this land located?
    The property is located at 1302 Hermosa Dr St Artesia, NM.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: $525,000 asking price.; 2.11-acre lot with 22,922 square feet of building space.; Special purpose property, currently configured as a sanctuary (approx. 225-person capacity, 80% occupancy) and fellowship hall/classrooms.
    (575) 736-0021 Call to check price and availability
    Request Owner's contact information
    1302 Hermosa Dr St Artesia, NM 88210
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    Artesia, NM 88210
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    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
    1302 Hermosa Dr St Artesia, NM 88210
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Hannah Palomin
    Hannah Palomin
    (575) 736-0021
    Learn more
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