Sign Up Successful!
You now have access to more from Realmo!
    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

    1518 Michigan Ave Roswell, NM 88201

    Sponsored
    For Sale
    Contact for pricing

    7,509 sq ft lot, excellent location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional 7,509 square foot land parcel presents a remarkable opportunity for development in Roswell, New Mexico. Located at 1518 N Michigan Avenue, this property boasts a desirable northwest Roswell address, nestled between existing residential homes. The convenient location offers easy access to nearby utilities, simplifying the construction process and reducing potential development costs. The lot's size provides ample space for a variety of projects, from single-family homes to smaller multi-family dwellings, making it an attractive investment for builders and developers alike. Zoned for residential use (verification recommended), this property is ready for immediate development. Its strategic location within a well-established neighborhood offers a blend of tranquility and accessibility, appealing to a wide range of potential buyers. The asking price of $15,000 represents a compelling value for a property of this size and location in Roswell, New Mexico. This is a rare chance to acquire a prime piece of land in a growing community, offering significant potential for future appreciation. The property is situated in Chaves County, New Mexico, with a zip code of 88201. Don't miss this chance to secure this valuable asset. Further due diligence is recommended to confirm zoning and utility availability.

    Property Features for 1518 Michigan Ave

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Heidi M Bills

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Roswell
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.533909
    Latitude
    33.410124

    Nearby Similar for Sale

    • $450,000
      4,166 SF

      Roswell Landmark Business Opportunity

      Turn-key flower shop with property, inventory, and vehicles included.
      405 W Alameda St, Roswell, NM 88203
      View Details
    • New
      $270,000
      Pending

      Roswell Triplex For Sale

      Multifamily property in Roswell, NM, ideal for investment.
      906 S Wyoming Ave, Roswell, NM 88203
      View Details
    • $250,000
      4,397 SF

      Roswell Retail Property with Bay

      Prime Roswell retail property featuring storefront, restrooms, and fenced lounge.
      314 N Richardson Ave, Roswell, NM 88201
      View Details
    • $150,000
      4,534 SF

      Roswell Commercial Building For Sale

      Versatile commercial building in high-traffic area with owner financing.
      1501 W 2Nd St, Roswell, NM 88201
      View Details
    • $2,250,000
      6,746 SF

      Roswell NNN Leased Dental Asset

      NNN leased dental asset with attractive lease terms.
      2000 N Union Ave, Roswell, NM 88201
      View Details
    • $1,500,000
      71,526 SF

      Roswell Icon: Convertible Office Building

      Eight-story office building with development potential in downtown Roswell.
      200 W 1St St, Roswell, NM 88203
      View Details
    • $1,500,000
      1,858 SF

      Profitable Car Wash Business Opportunity

      Established car wash business for sale on Main Street.
      1808 S Main St, Roswell, NM 88203
      View Details
    • $638,888
      318.00 Acres

      Ranch Land North of Roswell

      Large ranch land parcel perfect for country living and livestock.
      Cottonwood Rd, Roswell, NM 88201
      View Details
    • $209,000
      1,330 SF

      Downtown Roswell Retail Space

      High-visibility corner retail, 1330 sq ft.
      201 3Rd St, Roswell, NM 88201
      View Details
    • $93,000
      5,249 SF

      Roswell Commercial Property - Redevelopment Ready

      High-traffic location, owner financing available.
      1422 2Nd St, Roswell, NM 88201
      View Details
    • $375,000
      2,795 SF

      Roswell Retail Business Opportunity

      Historic Flower Shop, Turn-Key Business
      405 Alameda St, Roswell, NM 88203
      View Details
    • $650,000
      3,440 SF

      Roswell Commercial Space - Main Street

      Prime Roswell location, versatile office space.
      3117 Main St, Roswell, NM 88201
      View Details

    FAQs

    What type of property is this?
    Land - 7,509 sq ft lot, excellent location.
    Where is this land located?
    The property is located at 1518 Michigan Ave Roswell, NM.
    What is the asking price?
    The asking price for this property is $15,000.
    Request Owner's contact information
    1518 Michigan Ave Roswell, NM 88201
    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.
    1518 Michigan Ave
    Roswell, NM 88201
    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
    1518 Michigan Ave Roswell, NM 88201
    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!
    Listing Contact
    Heidi M Bills
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.