Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    704 Richey Ave Artesia, NM 88210

    Property Lookup

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

    704 Richey Ave Artesia, NM 88210

    View on Map
    • Specialty properties
    • 2.26 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Payne Packing Co / Food Processing Plant

    Property Details for 704 Richey Ave

    Lot size
    2.26 lot acres
    Property type
    Specialty properties

    Description

    This exceptional opportunity presents a fully operational meat packing facility located at 704 W Richey Avenue, Artesia, New Mexico, 88210. Priced at $700,000, this established business sits on a 2.256-acre lot and includes all necessary equipment for immediate operation. The sale encompasses a comprehensive array of meat processing equipment, including a meat saw, grinders, tenderizers, slicer, and a smoker room. Two meat storage freezers maintain optimal product preservation. Efficient handling is ensured with an indoor hanging weight scale and a hydraulic lift for carcasses. Livestock weighing is facilitated by an on-site scale and accompanying pens. A convenient laundry area, equipped with a washer and dryer, caters to the cleaning of meat jackets and aprons. The property also features an office space, recently remodeled approximately four years ago. This turnkey operation is ready for a new owner to step in and continue its successful history within the Artesia community. Please note that a yellow truck and a singlewide mobile home located on the property are not included in the sale and will be removed prior to closing. This is a rare chance to acquire a well-established, profitable business with all equipment included.

    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
    Artesia
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.405
    Latitude
    32.8578

    Comparable in this City

    • Value Estimation by Request
      1.50 Acres

      11357 Lovington Hwy

      Land • 6,000 SF
      11357 Lovington Hwy, Artesia, NM 88210
      View Details
    • Value Estimation by Request
      2.11 Acres

      1302 Hermosa Dr St

      Land • 22,922 SF
      1302 Hermosa Dr St, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      702 Main St

      Land
      702 Main St, Artesia, NM 88210-2131
      View Details
    • Value Estimation by Request

      801 Texas Ave

      Office properties & Spaces
      801 Texas Ave, Artesia, NM 88210
      View Details
    • Value Estimation by Request

      Artesia, NM 88210

      COMMERCIAL (GENERAL)
      Artesia, NM 88210
      View Details
    • Value Estimation by Request

      Artesia, NM 88210

      COMMERCIAL (GENERAL)
      Artesia, NM 88210
      View Details

    Similar Nearby for Sale

    • $938,340
      14,500 SF

      Artesia Industrial Property Sale-Leaseback Opportunity

      Industrial property in Artesia, NM, with a sale-leaseback opportunity.
      11351 Lovington Hwy, Artesia, NM 88210
      View Details
    • $1,200,000
      10,188 SF

      Downtown Artesia Inn & Commercial Spaces

      Historic Artesia B&B with Commercial Leases
      209 Main St, Artesia, NM 88210
      View Details
    • $399,900
      4,699 SF

      Artesia Commercial Building & Business

      Prime Downtown Artesia Investment Opportunity
      412 Main St, Artesia, NM 88210
      View Details
    • Contact for pricing

      Commercial Property with Two Office Spaces

      Commercial property featuring two separate office spaces on Main Street.
      702 W Main St, Artesia, NM 88210
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Artesia Commercial Land for Lease

      Commercial land available for lease in Artesia, New Mexico.
      416 N 26Th St, Artesia, NM 88210
      View Details
    • $1,150 /Mo
      1,500 SF

      Artesia, NM Commercial Building

      Commercial building for rent in a visible location.
      813 S 1St St, Artesia, NM 88210
      View Details
    • $3,000 /Mo
      2,050 SF

      Commercial Building with Acreage

      Commercial building with shop, office, and fenced acreage for rent.
      4122 W Main St, Artesia, NM 88210
      View Details
    • Contact for pricing

      Historic Office Space for Rent

      Remodeled historic office space near Main Street.
      801 W Texas Ave, Artesia, NM 88210
      View Details
    • New
      $550 /Mo
      600 SF

      Artesia Retail or Office Space

      Commercial space suitable for retail or office use in Artesia.
      509 S 13Th St, Artesia, NM 88210
      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.
    704 Richey Ave
    Artesia, NM 88210
    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!