Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2A Hwy 15 Hwy Hanover, NM 88049

    Property Lookup

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

    2A Hwy 15 Hwy Hanover, NM 88049

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

    Current Use by Public Records

    • Land

    Property Details for 2A Hwy 15 Hwy

    Lot size
    9.17 lot acres
    Property type
    Land

    Description

    This exceptional 9.17-acre parcel of land presents a unique investment opportunity in Grant County, New Mexico. Located in Hanover, near the intersection of State Highway 15 and 35, this property boasts a picturesque setting above Sapillo Creek. The land is predominantly wooded, featuring a mix of Ponderosa Pine and Pinon trees, creating a tranquil and naturally beautiful environment. The expansive lot size offers considerable flexibility for a variety of potential uses, making it an attractive prospect for developers, investors, or individuals seeking a secluded and spacious property. The address is Lot 2A Hwy 15 Highway, Lake Roberts, NM 88049. With its convenient location and abundant natural beauty, this property is poised for significant future development or simply provides a peaceful retreat. The asking price for this remarkable land is $110,000. The property's latitude and longitude coordinates are 32.8422371 and -107.9739244 respectively. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Grant
    State
    New Mexico
    Longitude
    -107.974
    Latitude
    32.8422

    Comparable in this City

    • Value Estimation by Request
      40.00 Acres

      Tbd Wilson Rd

      Land • 40.00 Acres
      0 Tbd Wilson Rd, Hanover, NM 88049
      View Details
    • Value Estimation by Request
      27.24 Acres

      5 Hwy 35 Hwy

      Land • 27.24 Acres
      5 Hwy 35 Hwy, Mimbres, NM 88049
      View Details
    • Value Estimation by Request
      0.90 Acres

      3091 Hwy 35th N

      CHARITABLE ORGANIZATION • 0.90 Acres
      3091 Hwy 35th N, Mimbres, NM 88049
      View Details
    • Value Estimation by Request
      1,512 SF

      2739 Hwy 35

      RETAIL STORES (PERSONAL SERVICES) • 1,512 SF
      2739 Hwy 35, Mimbres, NM 88049
      View Details
    • Value Estimation by Request
      4,392 SF

      2743 Hwy 35

      SHOW ROOM, WAREHOUSE • 4,392 SF
      2743 Hwy 35, Mimbres, NM 88049-8084
      View Details
    • Value Estimation by Request
      5,200 SF

      Mimbres, NM 88049

      SHOW ROOM, WAREHOUSE • 5,200 SF
      Mimbres, NM 88049
      View Details

    Similar Nearby for Sale

    • $187,000
      6.26 Acres

      Lake Roberts Commercial Land Parcel

      6.26-acre commercial property near Lake Roberts with creek and horses.
      5 Chestnut St, Mimbres, NM 88049
      View Details
    • Contact for pricing
      1.24 Acres

      Land in Casa Adobe Subdivision

      1.2-acre homesite with panoramic views in Mimbres, New Mexico.
      297 Caballo Blanco St, Mimbres, NM 88049
      View Details
    • $134,900
      21.58 Acres

      Mimbres Land with Mountain Views

      21.58 acres in Mimbres with utilities and cabin.
      324 Caballo Blanco, Mimbres, NM 88049
      View Details
    • $31,000
      0.74 Acres

      Land in Casas Adobes Subdivision

      0.746-acre land with views of Mimbres Valley and Black Range.
      249 Caballo Blanco, Mimbres, NM 88049
      View Details
    • $189,000
      4.29 Acres

      Land with Gila Views

      4.29-acre property with views, well, power, and storage sheds.
      1076 Highway 35, Mimbres, NM 88049
      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.
    2A Hwy 15 Hwy
    Hanover, NM 88049
    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!