Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    418 Main St Artesia, NM 88210
    Back to Search
    Property profile & analytics

    418 Main St Artesia, NM 88210

    View on Map
    • Retail properties & Spaces
    • 8,280 SF
    For Sale
    $290,000
    View Listing →
    Artesia Theater: Prime Retail Space For Sale
    $290,000
    8,280 SF

    Artesia Theater: Prime Retail Space

    Historic Theater, 8,280 SF, Main Street

    418 Main St, Artesia, NM 88210
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 418 Main St

    Year built
    1946
    Property size
    8,280 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 8,280-square-foot retail property, located at 418 W Main St in Artesia, New Mexico, presents a unique investment opportunity. Formerly the LandSun Theater, this single-story building boasts a rich history, having served as a movie theater with two screens, balconies, and a complete concession stand. Built in 1946 and renovated in 1970, the exterior underwent a significant restoration around 2001, including the façade, neon sign, marquee, and concession booth. The property sits on an 8,400-square-foot lot and is zoned C, offering considerable flexibility for a variety of commercial uses. Its prime location on Main Street places it within Artesia's thriving MainStreet initiative, benefiting from high pedestrian traffic and ample street parking. The asking price is $290,000, translating to $35.02 per square foot. This property offers a blend of historical charm and modern potential, making it an ideal investment for discerning buyers seeking a unique and well-situated commercial space in the heart of Artesia, NM (zip code 88210). The property's Eddy County location provides easy access to local amenities and transportation routes.

    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
    Eddy
    State
    New Mexico
    Longitude
    -104.402
    Latitude
    32.8426

    Comparable in this City

    • Value Estimation by Request

      Artesia, NM 88210

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Artesia, NM 88210
      View Details
    • Value Estimation by Request

      Artesia, NM 88210

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Artesia, NM 88210
      View Details
    • Value Estimation by Request
      6,000 SF

      601 1St St

      Restaurants • 6,000 SF
      601 1St St, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      Artesia, NM 88210

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      Artesia, NM 88210
      View Details
    • Value Estimation
      $800,000
      0.40 Acres

      261 Lk Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.40 Acres
      261 Lk Rd, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      811 1St St

      Retail properties & Spaces
      811 1St St, Artesia, NM 88210
      View Details

    Similar Nearby for Sale

    • $290,000
      8,280 SF

      Artesia Theater: Prime Retail Space

      Historic Theater, 8,280 SF, Main Street
      418 Main St, Artesia, NM 88210
      View Details
    • Contact for pricing

      Commercial Property with Two Office Spaces

      Commercial property featuring two separate office spaces on Main Street.
      702 W Main St, Artesia, NM 88210
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space For Sale

      Retail space available for purchase.
      601 S 1St St, Artesia, NM 88210
      View Details
    • $1,200,000
      10,188 SF

      Downtown Artesia Inn & Commercial Spaces

      Historic Artesia B&B with Commercial Leases
      209 Main St, Artesia, NM 88210
      View Details
    • $79,603
      1.01 Acres

      Land in Desert Willow Estates

      Residential land for sale in Artesia, New Mexico.
      Desert Willow Est, Artesia, NM 88210
      View Details

    Similar Nearby for Lease

    • $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

      Artesia Commercial Land for Lease

      Commercial land available for lease in Artesia, New Mexico.
      416 N 26Th 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
    View Listing
    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.
    418 Main St
    Artesia, NM 88210
    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

    Thank You for Inquiry
    418 Main St, Artesia, NM, 88210
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!