Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    306 Mentmore Rd Gallup, NM 87301
    Back to Search
    Property profile & analytics

    306 Mentmore Rd, Gallup, NM 87301

    View on Map
    • Retail properties & Spaces
    • 2,600 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 306 Mentmore Rd

    Year built
    1980
    Lot size
    1.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional mixed-use property, located at 306 Mentmore Rd in Gallup, New Mexico, presents a unique investment opportunity. The 2,600 square foot building sits on a one-acre lot, offering versatile commercial zoning possibilities. Currently vacant with an occupancy date of July 31, 2024, this property allows for immediate customization to suit a variety of business needs. The permitted mixed-use zoning allows for diverse applications, from multi-family dwellings to restaurants, hotels, car washes, or medical facilities. Built in 1980, the single-story building includes a 30 x 24 foot garage at the rear, adding further utility and potential. The property features a fenced lot, providing security and privacy. The asking price is $275,000, translating to $105.77 per square foot. The land value alone is assessed at $50,000 per square foot. The property's APN is R652075. This is a for-sale-by-owner opportunity. Don't miss this chance to acquire a versatile commercial property in a desirable Gallup location.

    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
    -108.842
    Latitude
    35.5083

    Comparable in this City

    • Value Estimation by Request

      923 Aztec St

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

      306 Mentmore Rd

      Office Units
      306 Mentmore Rd, Gallup, NM 87301
      View Details
    • Value Estimation by Request

      1208 Aztec Ave

      Individual retail properties
      1208 Aztec Ave, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      16,693 SF

      1821 Hwy

      Individual retail properties
      1821 Hwy, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      45,792 SF

      805-919 Hwy

      Retail properties & Spaces
      805-919 Hwy, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      40,256 SF

      1005 Us-491

      Lifestyle centers
      1005 Us-491, Gallup, NM 87301
      View Details

    Similar Nearby for Sale

    • $460,000
      0.54 Acres

      Industrial Building in Gallup, NM

      Large industrial building suitable for manufacturing or retail repurposing.
      601 E Coal Ave, Gallup, NM 87301
      View Details
    • Contact for pricing
      45,792 SF

      Retail Spaces in High-Traffic Area

      Multiple retail spaces available for lease in Gallup, New Mexico.
      805-919 N Hwy 491 Ave, 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
    • $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
    • $235,000
      2,832 SF

      Gallup Multi-Family Investment Opportunity

      Three-unit property in Gallup with income growth potential.
      610 S Fifth St, 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

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space in Gallup Center

      Retail space available in anchored shopping center on Hwy 66.
      1600-1800 Hwy 66 E, Gallup, NM 87301
      View Details
    • Contact for pricing
      1,775 SF

      Retail Space Next to Pizza

      Freestanding retail building available for rent, 1775 square feet.
      905 U S 491, Gallup, NM 87301
      View Details
    • $10 SF/Yr
      28,000 SF

      Grocery Anchored Shopping Center Space

      Junior anchor space in high-volume shopping center with 4.7M visits.
      900 S 491, Gallup, NM 87301
      View Details
    • Contact for pricing
      28,000 SF

      Grocery Anchored Shopping Center

      High-traffic shopping center anchored by a major grocery store.
      Neq I-40 & Nm Hwy 491, Gallup, NM 87301
      View Details
    • Contact for pricing
      3,750 SF

      Gallup Office Warehouse with Parking

      Freestanding office warehouse with fenced parking available for lease.
      27 Dusty Rd, 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.
    306 Mentmore Rd
    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
    306 Mentmore Rd, 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!