Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    16.46+/-Ac Near Sheridan Las Vegas, NM 87701

    Property Lookup

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

    16.46+/-Ac Near Sheridan Las Vegas, NM 87701

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

    Current Use by Public Records

    • Land

    Property Details for 0 16.46+/-Ac Near Sheridan

    Lot size
    16.00 lot acres
    Property type
    Land

    Description

    This exceptional 16.46+/- acre parcel presents a unique investment opportunity in San Miguel County, New Mexico. Located near Sheridan, NM, this property boasts a rich history, situated close to the railroad tracks and the ruins of the Ojita, NM train station. The land offers significant potential for various development projects, capitalizing on its proximity to Highway 84. While electricity is available on-site, it requires a transformer installation. Essential infrastructure improvements, including a well and septic system, are needed to fully realize the property's potential. The expansive acreage provides ample space for a variety of uses, from residential to commercial development, subject to local zoning regulations. The asking price is $72,500. This is a rare chance to acquire a substantial piece of land with historical significance in a desirable New Mexico location. The property's address is listed as 16.46+/-ac Near Sheridan, with a zip code of 87701. The coordinates are 35.5939574 latitude and -105.2238868 longitude. Buyers are responsible for conducting their own due diligence regarding zoning, permitting, and utility connections. This property is sold as-is.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.224
    Latitude
    35.594

    Comparable in this City

    • Value Estimation by Request

      1232 8 St Cor

      Land
      1232 8 St Cor, Las Vegas, NM 87701
      View Details
    • Value Estimation by Request
      40.00 Acres

      540 C 24

      Land • 40.00 Acres
      540 C 24, Las Vegas, NM 87701
      View Details
    • Value Estimation by Request
      1,400.00 Acres

      784 Apache Mesa Rd

      Farms • 1,400.00 Acres
      784 Apache Mesa Rd, Las Vegas, NM 87701
      View Details
    • Value Estimation by Request
      643.00 Acres

      Tbd Crk 51 Rd

      Farms • 643.00 Acres
      0 Tbd Crk 51 Rd, Las Vegas, NM 87701
      View Details
    • Value Estimation by Request
      40.00 Acres

      7B Moon Dance Rnch Rd

      Land • 40.00 Acres
      7B Moon Dance Rnch Rd, Las Vegas, NM 87701
      View Details
    • Value Estimation by Request
      32.61 Acres

      5 Storrie Lk

      Land • 32.61 Acres
      5 Storrie Lk, Las Vegas, NM 87701
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      20 Nm 518, Las Vegas, NM 87701
      View Details
    • $272,000
      320.00 Acres

      Land in Los Montoyas, NM

      320-acre property featuring pinon, cedar, and a deep canyon.
      320+/- Acres Apache Mesa Ave, Las Vegas, NM 87701
      View Details
    • Contact for pricing

      Land Available For Sale

      Land available for sale in Las Vegas, New Mexico.
      2-3 South Grand Ave, Las Vegas, NM 87701
      View Details
    • $125,000
      20.00 Acres

      Los Montoyas Acreage For Sale

      20 acres of partially fenced land near I-25.
      B27 Tracts C3 & C4 Rds, Las Vegas, NM 87701
      View Details
    • $1,450,000

      High-Traffic Land Parcel I-25

      Commercially zoned land with high visibility off I-25.
      3250 North Northgrand Ave, Las Vegas, NM 87701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      929 SF

      Retail Space Near Walmart

      Retail space available across the street from Walmart Supercenter.
      2500 7Th St, Las Vegas, NM 87701
      View Details
    • Contact for pricing
      1,024 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center.
      2514 7Th St, Las Vegas, NM 87701
      View Details
    • Contact for pricing
      8,748 SF

      Las Vegas Retail Space Available

      Retail space for lease in a busy Las Vegas shopping center.
      212-250 Mills Ave, Las Vegas, NM 87701
      View Details
    • Contact for pricing
      3,688 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center.
      2510 7Th St, Las Vegas, NM 87701
      View Details
    • $12 SF/Yr
      17,500 SF

      Downtown Las Vegas Retail/Flex Space

      Retail/flex property in Downtown Las Vegas, near Highlands University.
      804 Douglas Ave, Las Vegas, NM 87701
      View Details
    • Contact for pricing

      Mills Plaza Retail and Office

      Retail and office spaces available in Mills Plaza.
      250 Mills Ave, Las Vegas, NM 87701
      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.
    16.46+/-Ac Near Sheridan
    Las Vegas, NM 87701
    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!