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    1561 Us Hwy 60 Hwy Clovis, NM 88101

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    1561 Us Hwy 60 Hwy Clovis, NM 88101

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    • Land
    • 9.10 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1561 Us Hwy 60 Hwy

    Lot size
    9.10 lot acres
    Property type
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Curry
    State
    New Mexico
    Longitude
    -103.295
    Latitude
    34.4045

    Comparable in this City

    • Value Estimation by Request
      83.51 Acres

      2601 7Th St

      Land • 83.51 Acres
      2601 7Th St, Clovis, NM 88101
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      328 Nonpareil Ln

      Land
      328 Nonpareil Ln, Clovis, NM 88101
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      1503 Arbor Dr

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      1503 Arbor Dr, Clovis, NM 88101
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    • Value Estimation by Request
      18.39 Acres

      Tbd Wilhite Dr

      Land • 18.39 Acres
      0 Tbd Wilhite Dr, Clovis, NM 88101
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    • Value Estimation by Request
      20.21 Acres

      1070 Curry Rd

      Land • 20.21 Acres
      1070 Curry Rd, Clovis, NM 88101
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    • Value Estimation by Request
      2.15 Acres

      4420 Mabry Dr Dr

      Land • 2.15 Acres
      4420 Mabry Dr Dr, Clovis, NM 88101-4420
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    Similar Nearby for Sale

    • Contact for pricing

      Land Available For Sale

      Land available for sale at Prince St & Llano.
      Prince St & Llano Estacado Blvd, Clovis, NM 88101
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      Land North of Clovis, NM

      20+ acres with utilities available north of Clovis.
      1070 Curry Rd 16, Clovis, NM 88101
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    • Contact for pricing

      Land For Sale

      Land available for purchase in Clovis, New Mexico.
      3009 N Prince St, Clovis, NM 88101
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    • $1,750,000
      18.39 Acres

      18.39 Acres Land in Clovis

      18.39 acres of land for sale in Clovis, NM.
      Wilhite Dr, Clovis, NM 88101
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease

      Land available for lease, suitable for a single tenant.
      Clovis NM Nwq Prince St And Llano Estacado Blvd, Clovis, NM 88101
      View Details
    • Contact for pricing

      Turn-Key Drive Thru Restaurant

      Drive-thru restaurant space available in Clovis, New Mexico.
      3916 N Prince St, Clovis, NM 88101
      View Details
    • Contact for pricing

      Former Dealership with Shop Space

      Mixed-use property featuring showroom, offices, shop, and outdoor area.
      4400 Mabry Dr, Clovis, NM 88101
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    • $22 SF/Yr

      Retail Space in Wal-Mart Outparcel

      Retail space available in a busy Clovis shopping center.
      4024 N Prince St, Clovis, NM 88101
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    • Contact for pricing
      2,295 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center.
      4001-4017 N Prince St, Clovis, NM 88101
      View Details
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    1561 Us Hwy 60 Hwy
    Clovis, NM 88101
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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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