Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    702 Main St Artesia, NM 88210-2131

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Main St Artesia, NM 88210-2131

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Brannan Financial Group / Church / Mosque

    Property Details for 702 Main St

    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional commercial property in Artesia, New Mexico, presents a unique investment opportunity. Located at 702 W. Main St., this 14,000 square foot lot features a building with two distinct office areas, ideal for a variety of professional uses. The front section boasts attractive storefront windows facing Main Street, providing excellent visibility and accessibility. This area includes up to six private offices and two bathrooms, offering ample space for a team or individual professionals. The rear section provides additional privacy with two separate entrances and comprises up to three offices and one bathroom. The flexible layout allows for customization to suit diverse business needs. The asking price for this property is $365,000. This presents a compelling opportunity to acquire a well-situated commercial property in a thriving New Mexico community. The property is zoned for commercial use and is located in the 88210-2131 zip code. Its strategic location on Main Street offers high visibility and easy access for clients and employees. The property's size and layout offer significant potential for expansion or adaptation to meet evolving business requirements. Don't miss this chance to secure a valuable asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Artesia
    County
    NM
    State
    New Mexico
    Longitude
    -104.41
    Latitude
    32.8383

    Comparable in this City

    • Value Estimation by Request
      2.11 Acres

      1302 Hermosa Dr St

      Land • 22,922 SF
      1302 Hermosa Dr St, Artesia, NM 88210
      View Details
    • Value Estimation by Request
      1.50 Acres

      11357 Lovington Hwy

      Land • 6,000 SF
      11357 Lovington Hwy, Artesia, NM 88210
      View Details
    • Value Estimation by Request
      2.26 Acres

      704 Richey Ave

      Specialty properties • 2.26 Acres
      704 Richey Ave, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      801 Texas Ave

      Office properties & Spaces
      801 Texas Ave, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      515 Centre Ave

      Office properties & Spaces
      515 Centre Ave, Artesia, NM 88210-2716
      View Details
    • Value Estimation by Request
      5.37 Acres

      1710 26Th St

      Land • 5.37 Acres
      1710 26Th St, Artesia, NM 88210
      View Details

    Similar Nearby for Sale

    • $154,000
      39.52 Acres

      Land Parcel in Artesia, NM

      39-acre land parcel with utilities near Highway 82.
      249 N Sundown Trl, Artesia, NM 88210
      View Details
    • New
      $150,000
      Pending

      Land in Artesia, New Mexico

      5-acre land parcel in Artesia, Eddy County, New Mexico.
      82 W Compress Rd, Artesia, NM 88210
      View Details
    • Contact for pricing

      5 Acre Parcel For Sale

      5 acre parcel, utilities nearby, suitable for development.
      267 N Lake Rd, Artesia, NM 88210
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Artesia Commercial Land for Lease

      Commercial land available for lease in Artesia, New Mexico.
      416 N 26Th St, Artesia, NM 88210
      View Details
    • $1,150 /Mo
      1,500 SF

      Artesia, NM Commercial Building

      Commercial building for rent in a visible location.
      813 S 1St St, Artesia, NM 88210
      View Details
    • $3,000 /Mo
      2,050 SF

      Commercial Building with Acreage

      Commercial building with shop, office, and fenced acreage for rent.
      4122 W Main St, Artesia, NM 88210
      View Details
    • New
      $550 /Mo
      600 SF

      Artesia Retail or Office Space

      Commercial space suitable for retail or office use in Artesia.
      509 S 13Th St, Artesia, NM 88210
      View Details
    • Contact for pricing

      Historic Office Space for Rent

      Remodeled historic office space near Main Street.
      801 W Texas Ave, Artesia, NM 88210
      View Details
    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.
    702 Main St
    Artesia, NM 88210-2131
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!