Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1015 California St Socorro, NM 87801

    Property Lookup

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

    1015 California St Socorro, NM 87801

    View on Map
    • Retail properties & Spaces
    • 7,000 SF
    • 0.67 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1015 California St

    Year built
    2006
    Lot size
    0.67 lot acres
    Property size
    7,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 7,000-square-foot free-standing retail building is ideally situated on North California Street in Socorro, New Mexico. Built in 2006, the property boasts excellent condition and offers a prime location for a variety of retail businesses. The building features a spacious showroom area, a dedicated stockroom, and convenient grade-level loading for efficient operations. The 0.67-acre lot provides ample space, and prominent pylon signage ensures high visibility for your business. Located just half a mile north of the Walmart Supercenter and half a mile south of the I-25 exit to Socorro, this property benefits from high traffic counts and easy access for customers. The asking price is $700,000. The property is currently vacant, presenting a unique opportunity for immediate occupancy. This is a turnkey solution for a business seeking a well-maintained, highly visible retail space in a thriving New Mexico community. The address is 1015 N California St, Socorro, NM 87801. Broker co-op is available.

    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
    Socorro
    County
    Socorro
    State
    New Mexico
    Longitude
    -106.894
    Latitude
    34.0703

    Comparable in this City

    • Value Estimation by Request
      7,000 SF

      1015 California St

      Retail properties & Spaces • 7,000 SF
      1015 California St, Socorro, NM 87801
      View Details
    • Value Estimation by Request
      9,000 SF

      516 Old Us Hwy

      Individual retail properties • 9,000 SF
      516 Old Us Hwy, Socorro, NM 87801
      View Details
    • Value Estimation by Request

      204b Neel Ave

      Retail properties & Spaces
      204b Neel Ave, Socorro, NM 87801
      View Details
    • Value Estimation by Request
      9,310 SF

      1019 California St

      Restaurants • 9,310 SF
      1019 California St, Socorro, NM 87801
      View Details
    • Value Estimation by Request
      6.27 Acres

      700 6Th St

      Land • 6.27 Acres
      700 6Th St, Socorro, NM 87801
      View Details
    • Value Estimation by Request
      0.64 Acres

      700 6Th St

      Land • 0.64 Acres
      700 6Th St, Socorro, NM 87801
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,000 SF

      Retail Showroom in Socorro, NM

      Freestanding 9,000+- SF retail showroom available for sale or lease.
      516 Old Us Hwy 85, Socorro, NM 87801
      View Details
    • $629,000
      13,000 SF

      Historic Building in Socorro Plaza

      Historic 13,000 SF building in Socorro Plaza area.
      105 Manzanares Ave, Socorro, NM 87801
      View Details
    • Contact for pricing

      Free Standing Retail Building

      Commercial building with pylon sign in Socorro, New Mexico.
      516 Business Loop, Socorro, NM 87801
      View Details
    • Contact for pricing

      Commercial Pad Sites in Socorro

      Commercial pad sites in Socorro's commercial district, near I-25.
      700 6Th St, Socorro, NM 87801
      View Details
    • Contact for pricing
      10.00 Acres

      Socorro, NM Land Parcel

      10 acre land parcel in Socorro, New Mexico.
      3 Block 14, Socorro, NM 87801
      View Details
    • $40,000
      22.00 Acres

      20 Acres Untouched Beauty

      20-acre land parcel south of Socorro, New Mexico.
      Rolling Hl, San Antonio, NM 87801
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr

      Retail Showroom in Socorro

      Prime retail showroom space with high visibility and ample parking.
      1019-A N California St, Socorro, NM 87801
      View Details
    • $11,667 /Mo

      Retail Building on N. California

      7,000 SF retail building for lease in Socorro, NM.
      1015 N California St, Socorro, NM 87801
      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.
    1015 California St
    Socorro, NM 87801
    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!