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    The Largest CRE Database in the US with Over 1 Million Listings

    Xxx Rd 1338 La Plata, NM 87418

    Sponsored
    For Sale
    $390,000

    Spacious New Mexico Land - Ideal for Farming

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This expansive 2,613,600 square foot land parcel presents a unique opportunity in La Plata, New Mexico. Located at 1338 XXX Road, zip code 87418, this property offers ample space for a variety of uses, making it perfect for those seeking a large-scale project or a tranquil country setting. Situated in San Juan County, the property boasts a prime location with coordinates 36.9212261 latitude and -108.1665855 longitude. The asking price is $390,000. The substantial lot size provides endless possibilities, particularly for agricultural endeavors or those seeking a significant amount of land for personal use. The property's rural character offers a peaceful escape while still being conveniently located within the community of La Plata. This is an exceptional opportunity to acquire a large tract of land in a desirable New Mexico location. The property is classified as Land and is ready for its next chapter. Serious inquiries are encouraged to explore the potential of this remarkable property. The sheer size of this land parcel makes it an attractive investment for those seeking a substantial holding in a beautiful, rural setting.

    Property Features for 0 Xxx Rd 1338

    General Information

    Property type
    Land

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    Listing Contact
    Tyra van Belle
    Tyra van Belle

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    La Plata
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.1665855
    Latitude
    36.9212261

    Nearby Comparable

    • $193,000
      29.61 Acres

      Land with Unobstructed Views

      29.61 acres suitable for residential or agricultural use.
      Xxx Rd 1420, La Plata, NM 87418
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    • $216,000
      33.26 Acres

      33 Acres in La Plata

      33 acres of agricultural land in La Plata, New Mexico.
      Xxxx Rd 1338, La Plata, NM 87418
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    • $390,000
      60.00 Acres

      60 Acres in La Plata

      60-acre land with irrigation, suitable for various agricultural uses.
      Xxx Rd 1338, La Plata, NM 87418
      View Details

    FAQs

    What type of property is this?
    Land - Spacious New Mexico Land - Ideal for Farming
    Where is this land located?
    The property is located at Xxx Rd 1338 La Plata, NM.
    What is the asking price?
    The asking price for this property is $390,000.
    Request Owner's contact information
    Xxx Rd 1338 La Plata, NM 87418
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    La Plata, NM 87418
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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
    Xxx Rd 1338 La Plata, NM 87418
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    Listing Contact
    Tyra van Belle
    Tyra van Belle
    Learn more
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