Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    915 Summit St Roswell, NM 88203

    Property Lookup

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

    915 Summit St Roswell, NM 88203

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

    Current Use by Public Records

    • Land

    Property Details for 915 Summit St

    Property type
    Land

    Description

    This exceptional 17,681.4 square foot lot presents a remarkable opportunity for residential development. Situated on the desirable corner of East Summit Street and South Ash Avenue in Roswell, New Mexico, this property offers significant potential. The expansive lot size provides ample space for a variety of construction plans, catering to diverse architectural styles and preferences. Its prime location within Roswell offers convenient access to local amenities, schools, and transportation networks. The property's corner positioning enhances visibility and accessibility. A neighboring lot to the north is also available for purchase, presenting an opportunity to acquire an even larger contiguous parcel. This is a rare chance to secure a substantial piece of land in a thriving New Mexico community. The asking price for this exceptional property is $25,000. Interested parties are encouraged to conduct a site visit and inquire further to explore the possibilities this land offers. The property is located at 915 E Summit Street, Roswell, NM 88203.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Roswell
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.51
    Latitude
    33.3836

    Comparable in this City

    • Value Estimation by Request

      304 Rowland Dr

      Land
      304 Rowland Dr, Roswell, NM 88203
      View Details
    • Value Estimation by Request
      6.00 Acres

      00 Las Flores Dr Dr

      Land • 6.00 Acres
      00 Las Flores Dr Dr, Roswell, NM 88203
      View Details
    • Value Estimation by Request

      1405 2Nd St

      Land
      1405 2Nd St, Roswell, NM 88203
      View Details
    • Value Estimation by Request

      212 Lea Ave

      Office properties & Spaces
      212 Lea Ave, Roswell, NM 88203
      View Details
    • Value Estimation by Request

      114 Main St

      Individual retail properties
      114 Main St, Roswell, NM 88203
      View Details
    • Value Estimation by Request
      5.72 Acres

      Las Flores Dr

      Land • 5.72 Acres
      0 Las Flores Dr, Roswell, NM 88203
      View Details

    Similar Nearby for Sale

    • $48,000
      5.60 Acres

      Roswell Land with Mountain Views

      5.6 acres in Buena Vista near Roswell, mountain views.
      122 Tierra Grande Blvd, Roswell, NM 88203
      View Details
    • Contact for pricing

      Vacant Lot with Utilities Nearby

      Unimproved vacant land with utilities in close proximity.
      1518 S Gdn Ave Ave, Roswell, NM 88203
      View Details
    • Contact for pricing
      5.42 Acres

      Land in Roswell with Views

      5.42 acre building site with mountain views near Roswell.
      Blanco Rosa Ln, Roswell, NM 88203
      View Details
    • Contact for pricing
      5.00 Acres

      Affordable Land Parcel in Roswell

      5 acre land parcel in Buena Vida Subdivision, Roswell, NM.
      Buena Vida, Roswell, NM 88203
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,812 SF

      Affordable Multifamily Asset For Rent

      60-unit Roswell, New Mexico multifamily asset with HAP contract.
      1515 S Sunset Ave, Roswell, NM 88203
      View Details
    • Contact for pricing
      191,815 SF

      Roswell Warehouse/Distribution Space Available

      Large manufacturing/industrial/distribution warehouse in Southeastern New Mexico.
      3911 S Main St, Roswell, NM 88203
      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.
    915 Summit St
    Roswell, NM 88203
    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

    915 Summit St, Roswell, NM, 88203

    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!