Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1X Road 1191 La Plata, NM 87418

    Property Lookup

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

    1X Road 1191 La Plata, NM 87418

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

    Current Use by Public Records

    • Land

    Property Details for 1X Road 1191

    Property type
    Land

    Description

    This exceptional 43,560 square foot land parcel presents a unique opportunity in La Plata, New Mexico. Located just 10 miles from Farmington and close to the Colorado border, this property boasts stunning views. Ideal for building a new home or placing a mobile home, the lot offers convenient access to utilities. A water line is currently being installed along the road, requiring only the installation of a personal meter. Electricity is readily available nearby, though a septic system will need to be installed. The western border of the property adjoins Bureau of Land Management (BLM) land. The seller is motivated and offers flexible financing options, including short-term financing or the possibility of a land/home package deal. Additional adjoining land is also available for purchase. This property is situated west of the La Plata Store. Don't miss this chance to own a piece of New Mexico's beautiful landscape. The property is listed under MLS # 24-899.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    La Plata
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.195
    Latitude
    36.9605

    Comparable in this City

    • Value Estimation by Request

      26 Rd

      Land
      26 Rd, La Plata, NM 87418
      View Details
    • Value Estimation by Request

      4X Road 1191

      Land
      4X Road 1191, La Plata, NM 87418
      View Details
    • Value Estimation by Request

      L11B2 Rd

      Land
      L11B2 Rd, La Plata, NM 87418
      View Details
    • Value Estimation by Request

      1500 Xxx Rd

      Land
      1500 Xxx Rd, La Plata, NM 87418
      View Details
    • Value Estimation by Request

      X2 Road 1191

      Land
      X2 Road 1191, La Plata, NM 87418
      View Details
    • Value Estimation by Request

      L10B2 Rd

      Land
      L10B2 Rd, La Plata, NM 87418
      View Details

    Similar Nearby for Sale

    • $325,000

      69 Acres in La Plata

      69 acres of land with development possibilities in La Plata.
      Tract S2 Rd 1330, La Plata, NM 87418
      View Details
    • $45,000
      1.75 Acres

      La Plata Land Parcel

      1.75 acre residential lot in La Plata, New Mexico.
      Xx 3 Rd 1191, La Plata, NM 87418
      View Details
    • $110,000
      4.75 Acres

      Land Parcel in La Plata

      4.75 acres of residential land for sale in La Plata.
      Xx 1 Rd 1191, La Plata, NM 87418
      View Details
    • $60,000
      28.95 Acres

      28.95 Acres in La Plata

      28.95 acre land parcel suitable for off-grid residential development.
      Xxx Rd 1500, La Plata, NM 87418
      View Details
    • $65,000
      10.30 Acres

      La Plata Residential Land

      10.3 acre residential lot with mountain views near town.
      16 Rd 1470, La Plata, NM 87418
      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.
    1X Road 1191
    La Plata, NM 87418
    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!