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    1801 Plaza St Las Vegas, NM 87701

    Sponsored
    For Sale
    $1,600,000

    Prime Commercial & Residential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 15,000 sq ft property, located at 1801 Plaza in Las Vegas, New Mexico, presents a unique blend of commercial and residential opportunities. Built in 1870, this meticulously restored two-story adobe building boasts 57 feet of glass retail frontage and 5,000 sq ft of ground-level retail space. The interior features 2,500+ sq ft of finished residential space, including a European-style kitchen, living area, den, two bedrooms, and two baths. An additional 3,000 sq ft of finished space on the second floor is ideal for office rentals, studios, or multifamily use. Furthermore, 3,600 sq ft of developable space on the third floor offers potential for a penthouse suite. The property sits on a 7.183-acre lot and features three units. Original hardwood oak and fur/maple flooring are preserved throughout. The building, a recipient of the 1996 Historic Preservation Award, is zoned R2 + C2, allowing for a variety of uses. This landmark property represents a rare opportunity to own a piece of New Mexico history while capitalizing on its significant commercial and residential potential. All current building codes are met, including new PVC, wiring, roof, stucco, fixtures, and demising walls. Custom-built French doors and windows, handcrafted balconies, and hand-made balustrades enhance the property's historic charm. The property offers big tree-covered views of the Historic Plaza Park. The asking price is $1,600,000.

    Property Features for 1801 Plaza St

    General Information

    Property type
    Specialty properties
    Lot Size
    312,891 SF

    Building Details

    Year Built
    1870
    Units
    3

    HighLights

    • $1,600,000 asking price for a special purpose property.
    • Three‑unit property built in 1870 on a 7.183‑acre lot in Las Vegas, NM.
    • 15,000 square feet, including 5,000 square feet of retail space and 5,000+ square feet of finished residential space.
    • Features 57 feet of glass retail frontage and R2 + C2 zoning.
    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
    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?
    Specialty property - Prime Commercial & Residential
    Where is this specialty property located?
    The property is located at 1801 Plaza St Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: $1,600,000 asking price for a special purpose property.; Three-unit property built in 1870 on a 7.183-acre lot in Las Vegas, NM.; 15,000 square feet, including 5,000 square feet of retail space and 5,000+ square feet of finished residential space.
    (505) 982-9836
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    1801 Plaza St 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
    1801 Plaza St Las Vegas, NM 87701
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