Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Patton Ave And Aztec Ave Gallup, NM 87301
    Back to Search
    Property profile & analytics

    Patton Ave And Aztec Ave Gallup, NM 87301

    View on Map
    • Land
    • 7.36 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Patton Ave And Aztec Ave

    Lot size
    7.36 lot acres
    Property type
    Land

    Description

    This exceptional 7.36-acre commercial land parcel presents a remarkable investment opportunity in Gallup, New Mexico. Located at the highly visible southwest corner of East Aztec Avenue and Patton Drive, this property boasts significant frontage on three streets: East Aztec Avenue, Patton Avenue, and Bortot Drive. Its strategic hard corner location ensures maximum exposure and accessibility, ideal for a wide range of commercial ventures. The property is zoned HC - Heavy Commercial, opening doors to diverse development possibilities. Potential uses include self-storage facilities, automotive businesses, office/warehouse complexes, and other high-impact commercial projects. The asking price is $600,000, translating to approximately $81,521 per acre, reflecting the land's prime location and development potential within McKinley County. The property's address is East Patton Avenue and Aztec Avenue, Gallup, NM 87301. This is a rare chance to acquire a substantial tract of land in a thriving commercial area, poised for significant growth and return on investment. The property's size and zoning make it an attractive proposition for developers seeking a strategic location with ample space for ambitious projects. Don't miss this opportunity to secure a piece of Gallup's commercial future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gallup
    County
    McKinley
    State
    New Mexico
    Longitude
    -108.698
    Latitude
    35.5276

    Comparable in this City

    • Value Estimation by Request
      6.69 Acres

      Second St

      Land • 6.69 Acres
      0 Second St, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      38.00 Acres

      000 Chee Dodge Blvd

      Land • 38.00 Acres
      000 Chee Dodge Blvd, Gallup, NM 87301
      View Details
    • Value Estimation by Request

      923 Aztec St

      Distribution properties
      923 Aztec St, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      1.50 Acres

      Historic Highway 66

      Land • 1.50 Acres
      0 Historic Highway 66, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      1.01 Acres

      3050 Ave Ave

      Land • 1.01 Acres
      3050 Ave Ave, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      12.20 Acres

      Duplicate

      Land • 12.20 Acres
      0 Duplicate, Gallup, NM 87301
      View Details

    Similar Nearby for Sale

    • $85,000
      27.09 Acres

      Mountain Land in Pinehaven Area

      27.09 acres of fenced mountain land near Gallup, NM.
      51 Panther Rd, Vanderwagen, NM 87301
      View Details
    • $1,065,001
      12.20 Acres

      Gallup, NM Mixed-Use Land

      12.2 Acres, Prime Development Opportunity
      0 Duplicate, Gallup, NM 87301
      View Details
    • $1,200,000
      21,350 SF

      Historic Route 66 Motel Investment

      Gallup, NM Motel - 50 Rooms, 2.24 Acres
      1903 Historic Highway 66, Gallup, NM 87301
      View Details
    • $49,500
      0.25 Acres

      Gallup, NM Vacant Lot

      Vacant lot overlooking Veteran's Park in Gallup, NM.
      E Morgan Ave, Gallup, NM 87301
      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.
    Patton Ave And Aztec Ave
    Gallup, NM 87301
    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
    Patton Ave And Aztec Ave, Gallup, NM, 87301
    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!