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    1116 National St Las Vegas, NM 87701

    For Sale
    $475,000

    Charming Downtown Office, Retail Potential

    Property size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This unique two-story stucco building, located at 1116 National in the historic heart of Las Vegas, New Mexico (zip code 87701), presents a compelling investment opportunity. Priced at $475,000, this property offers approximately 1 square foot of office space on the first floor, ideal for a variety of uses, including executive offices or retail. Large windows flood the space with natural light, creating a bright and inviting atmosphere. The second floor, while not explicitly detailed in square footage, offers potential for conversion into living quarters, adding significant versatility. The property includes a backyard featuring a small cottage, providing additional space and potential for expansion or rental income. Convenient access to a back alley is also available. A ramp is situated on the side of the building, enhancing accessibility. It's important to note that there is an encroachment between this building (1116 National) and the adjacent property at 1118 National, situated on the boundary lines. This property is situated in San Miguel County and offers a blend of historical charm and modern adaptability, making it a rare find in the vibrant downtown area. The property's unique features and central location make it an attractive option for both business owners and investors seeking a distinctive property in a desirable location. Further investigation into the encroachment is recommended.

    Property Features for 1116 National St

    General Information

    Property type
    Retail properties
    Square Feet
    1 SF

    Building Details

    Stories
    2

    HighLights

    • $475,000 two‑story stucco building at 1116 National, Las Vegas, NM 87701.
    • First floor offers approximately 1,000 square feet of office space, suitable for retail or executive offices.
    • Second floor offers potential for conversion to living quarters.
    • Includes a backyard with a small cottage.
    • Features convenient back alley access and a side ramp.
    • Encroachment exists between 1116 and 1118 National; further investigation recommended.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.2238868
    Latitude
    35.5939574

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    FAQs

    What type of property is this?
    Retail property - Charming Downtown Office, Retail Potential
    Where is this retail property located?
    The property is located at 1116 National St Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: $475,000 two-story stucco building at 1116 National, Las Vegas, NM 87701.; First floor offers approximately 1,000 square feet of office space, suitable for retail or executive offices.; Second floor offers potential for conversion to living quarters.
    Request Owner's contact information
    1116 National St Las Vegas, NM 87701
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    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
    1116 National St Las Vegas, NM 87701
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