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    820 Bullard St Silver City, NM 88061

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    820 Bullard St Silver City, NM 88061

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    • Retail properties & Spaces
    • 9,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Silver Artifact / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store

    Property Details for 820 Bullard St

    Property size
    9,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional commercial investment opportunity presents a prime storefront in the heart of historic Silver City, New Mexico. Located at 820 N Bullard St, 88061, this property boasts a highly visible corner location within a thriving retail district, benefiting from heavy pedestrian traffic, particularly on weekends. The space offers 9,000 to 11,000 square feet of versatile retail space, ideal for a variety of businesses. Its strategic position in the historic district, adjacent to popular bike shops, restaurants, and art galleries, ensures high visibility and accessibility. While parking is limited in the immediate area, the mixed-use nature of the surrounding buildings caters to a diverse clientele. The property features a mix of established, long-term retail tenants, providing a stable income stream. Importantly, there are at least two vacant spaces available, presenting an excellent opportunity for owner-occupancy or leasing to additional tenants. This landmark property in a popular western tourism and gallery destination represents a compelling investment opportunity in a vibrant and growing community. The asking price is $425,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Silver City
    County
    Grant
    State
    New Mexico
    Longitude
    -108.276
    Latitude
    32.7742

    Comparable in this City

    • Value Estimation by Request
      160 SF

      2535 Hwy 180th Eus

      STORE, RETAIL OUTLET • 160 SF
      2535 Hwy 180th Eus, Silver City, NM 88061-7791
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    • Value Estimation by Request
      0.13 Acres

      1505 Hwy 180th Eus

      RETAIL STORES (PERSONAL SERVICES) • 0.13 Acres
      1505 Hwy 180th Eus, Silver City, NM 88061-7822
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    • Value Estimation by Request
      1,628 SF

      417 Silver Hts Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,628 SF
      417 Silver Hts Blvd, Silver City, NM 88061-6503
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    • Value Estimation by Request
      5,000 SF

      102 Texas St

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      102 Texas St, Silver City, NM 88061-5337
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    • Value Estimation by Request
      4,761 SF

      1445 Hwy 180th Eus

      RETAIL STORES (PERSONAL SERVICES) • 4,761 SF
      1445 Hwy 180th Eus, Silver City, NM 88061-7804
      View Details
    • Value Estimation by Request
      3,124 SF

      110 11th St

      RETAIL STORES (PERSONAL SERVICES) • 3,124 SF
      110 11th St, Silver City, NM 88061-5510
      View Details

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    820 Bullard St
    Silver City, NM 88061
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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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