Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    607 8 St Jal, NM 88252

    • Land
    For Sale
    View listing
    $50,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 607 8 St

    Property type
    Land

    Description

    This exceptional 12,480 square foot lot, located at 607 S 8th Street in Jal, New Mexico, presents a fantastic opportunity for building a new home. The property boasts generous dimensions, measuring 96 feet by 130 feet, providing ample space for a substantial residence and landscaping. Situated in Lea County, with the zip code 88252, this land offers a desirable location within the community. The asking price for this property is $50,000. This is a remarkable chance to acquire a sizable building lot in a convenient location. Note that two additional adjacent lots of the same size and price are also available for purchase, presenting a unique opportunity to acquire a larger contiguous parcel if desired. The property is classified as land and is ready for development. Coordinates for the property are 32.1063447 latitude and -103.1994512 longitude. Don't miss this chance to secure your ideal building site in Jal, NM.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jal
    County
    Lea
    State
    New Mexico
    Longitude
    -103.199
    Latitude
    32.1063

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      10 Cooper Cemetery Rd

      Land • 5.00 Acres
      10 Cooper Cemetery Rd, Jal, NM 88252
      View Details
    • Value Estimation by Request
      1.84 Acres

      Tbd Utah

      Land • 1.84 Acres
      0 Tbd Utah, Jal, NM 88252
      View Details
    • Value Estimation by Request

      612 Commerce St

      Office Properties & Spaces
      612 Commerce St, Jal, NM 88252
      View Details
    • Value Estimation by Request

      Utah Ave Ave

      Land
      0 Utah Ave Ave, Jal, NM 88252
      View Details
    • Value Estimation by Request
      2.06 Acres

      207 Kansas Ave

      Land • 2.06 Acres
      207 Kansas Ave, Jal, NM 88252
      View Details
    • Value Estimation by Request
      7.00 Acres

      Tbd Mesquite St

      Land • 7.00 Acres
      0 Tbd Mesquite St, Jal, NM 88252
      View Details

    Similar Nearby for Sale

    • $130,000
      1.01 Acres

      Prime Jal, NM Land Parcel

      1.01 Acres Ready to Develop
      0 Tbd Hwy 128 St, Jal, NM 88252
      View Details
    • $50,000

      Prime Jal, NM Land - Build Your Dream Home

      Large lot, ideal for new construction. Excellent location.
      607 8 St, Jal, NM 88252
      View Details
    • $399,900
      2.06 Acres

      Prime Jal, NM Commercial Land

      2.06 Acres, $399,900 - High Traffic Area
      207 Kansas Ave, Jal, NM 88252
      View Details
    • $50,000
      0.29 Acres

      Residential Land in Jal, NM

      Large lot suitable for building a new home in Jal.
      607 S 8 St, Jal, NM 88252
      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.
    607 8 St
    Jal, NM 88252
    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.