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    1802 Main St Los Lunas, NM 87031
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    1802 Main St, Los Lunas, NM 87031

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    • Retail properties & Spaces
    • 43,560 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1802 Main St

    Lot size
    1.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 1.1-acre commercial pad site, located at 1802 Main St NE, Los Lunas, NM 87031, presents a unique investment opportunity. Situated at the intersection of Main St NE and Edeal Rd, this property boasts a high-visibility location within the thriving Village of Los Lunas. Zoned C-1, it offers versatility for a range of commercial uses, including bank, QSR/fast food, office, and retail developments. The site encompasses 43,560 square feet of land, priced at $13.20 per square foot, or $585,000 per acre, with an asking price of $575,000. All utilities are available, making this a turnkey opportunity for developers and investors. The property is part of a growing area, with plans for additional businesses, including The Coffee Bean, further enhancing its appeal and potential for future growth. This ground lease property is owned by an LLC and is available for purchase. The property's riverfront location adds significant value and desirability. This is an ideal investment for those seeking a high-impact commercial venture in a dynamic and up-and-coming location. The information provided is believed to be reliable but should be independently verified.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Lunas
    County
    Valencia
    State
    New Mexico
    Longitude
    -106.714
    Latitude
    34.8035

    Comparable in this City

    • Value Estimation by Request
      18.12 Acres

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      12.39 Acres

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      9.96 Acres

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      2510 Main St

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      2510 Main St, Los Lunas, NM 87031
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      18,100 SF

      Nm-263

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      0 Nm-263, Los Lunas, NM 87031
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    • Value Estimation by Request
      8.48 Acres

      Seq Main St & Los Lentes Rd

      Land
      0 Seq Main St & Los Lentes Rd, Los Lunas, NM 87031
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Land for Lease

      Land available for single tenant retail development.
      Sec Main St & Hunning Rnch Loop, Los Lunas, NM 87031
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      Retail Land for Lease

      12-acre commercial land available for single tenant retail.
      Sec Of I-25 & Hwy 6, Los Lunas, NM 87031
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      Land For Rent

      Land available for single tenant in Los Lunas.
      2301 Main St NE, Los Lunas, NM 87031
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      Land Available For Lease

      Land available for single tenant lease.
      Nwq I-25 & Nm Hwy 6, Los Lunas, NM 87031
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      Los Lunas Retail Center Space

      Retail space available in a busy Los Lunas shopping center.
      2510 Main St NE, Los Lunas, NM 87031
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      Retail Suites in Los Lunas

      Retail suites available for lease in a vibrant shopping center.
      1400 Main St NW, Los Lunas, NM 87031
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    1802 Main St
    Los Lunas, NM 87031
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    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
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    1802 Main St, Los Lunas, NM, 87031
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