Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    12-Acre Agricultural Land in Anthony, NM Title is generated by Realmo AI

    948 West Joy Drive, Anthony, NM 88021

    View on Map
    Claim this Listing
    For Sale
    $1,200,000

    Versatile 12-acre property with pecan trees and irrigation rights.

    Type:Land / Land and Farms
    Property size:
    522,720 SF
    Lot size:
    12.00 Acres
    Price / SF:
    $2/SF
    Added:
    Apr 4, 2026
    Days on Market:
    59
    Last Refresh:
    May 16 at 8:28 pm

    Property Features for 948 West Joy Drive

    General Information

    Standard status
    Active
    Size
    522,720 SF
    Lot size
    12.00 Acres
    Property subtype
    Land / Land and Farms

    We can help!

    Listing Contact
    Adelfa Reyes

    Listing agent Adelfa Reyes License #0463446

    Listing office Cornerstone Realty

    Listing date Apr 4, 2026

    Source Compass

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

    All listing content including descriptions, pricing, images are the copyrighted material of Cornerstone Realty

    HighLights

    • 12‑acre property with three separate tax ID parcels, offering flexibility.
    • Potential for subdivision into 2‑acre parcels, providing diverse development options.
    • Ideal for a private family compound with stunning mountain views and a peaceful rural setting.
    • Includes approximately 270 mature pecan trees, offering both beauty and agricultural value.
    • Irrigation rights included, supporting continued farming or future development.
    • Water available at the property line, essential for farming or development.

    Overview

    This 12-acre property is located in Anthony, New Mexico. The land is comprised of three separate tax ID parcels and may be purchased as a whole or divided into three tracts. The seller will also consider subdividing into 2-acre parcels. Currently, the land is producing alfalfa and includes approximately 270 mature pecan trees. The property includes irrigation rights and water available at the property line. The property is suited for continued farming or future development and is ideal for creating a private family compound, featuring mountain views and a peaceful rural setting.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Anthony
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.6387311
    Latitude
    32.0413437

    Nearby Similar for Sale

    • $395,000

      Medical Office Condominium For Sale

      Medical office condominium for sale in Anthony, New Mexico.
      1275 Anthony Drive, Anthony, NM 88021
      View Details
    • $450,000

      Anthony, NM Multifamily Opportunity

      Three apartment buildings, a house, and ample space on 2.75 acres.
      370 E Ohara Road, Anthony, NM 88021
      View Details
    • $1,250,000

      Pecan Orchard with Casita

      15.38 acres with pecan orchard, main house, and casita.
      3025/3035 W O'Hara Road, Anthony, NM 88021
      View Details
    • $1,700,000

      20 Acres on Anthony Drive

      20-acre commercial land with frontage on Anthony Drive.
      2025 Anthony Drive, Anthony, NM 88021
      View Details
    • $1,200,000

      Anthony, NM 12-Acre Land

      12-acre property with pecan trees and irrigation rights.
      948 W Joy Drive, Anthony, NM 88021
      View Details
    • $510,000

      Anthony, NM Six Acre Land

      Six acre parcel with views, leveled, ready for development.
      Heavenly Lane, Anthony, NM 88021
      View Details
    • $225,000

      Land with Water Rights

      3.43 acres in Anthony, NM, ideal for farming/building.
      2950 Bosque Road, Anthony, NM 88021
      View Details
    • $350,000

      Versatile 3-Acre Land Parcel

      3-acre property with improvements for farming or rural living.
      1405 Webb Road, Anthony, NM 88021
      View Details
    • $288,000

      Level Land with Utilities

      Three-acre lot with utilities, suitable for residential development.
      1866 Highway 478, Anthony, NM 88021
      View Details
    • $288,000

      Three Acre Residential Land Parcel

      Three acre lot with utilities and irrigation rights.
      1866 Highway 478, Anthony, NM 88021
      View Details
    • $200,000

      Land Parcel in Anthony, NM

      2.6-acre land parcel suitable for residential development.
      Sandy Creek Road, Anthony, NM 88021
      View Details
    • $75,000

      Commercial Land in Anthony, NM

      Commercial land suitable for retail, office, or medical facility.
      1275 Anthony Drive, Anthony, NM 88021
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Versatile 12-acre property with pecan trees and irrigation rights.
    Where is this agricultural land / farmland located?
    The property is located at 948 West Joy Drive Anthony, NM.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 12‑acre property with three separate tax ID parcels, offering flexibility.; Potential for subdivision into 2‑acre parcels, providing diverse development options.; Ideal for a private family compound with **stunning mountain views** and a peaceful rural setting.
    (915) 355-2335
    We can help!
    Listing Contact
    Adelfa Reyes
    Real Estate License ID: 0463446
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    948 West Joy Drive, Anthony, NM 88021
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!