1133 Grand Ave Las Vegas, NM 87701
For Sale
1 / 50
Once part of the historic La Loma Hotel, this 0.82-acre commercial property offers three distinct buildings and a spacious walled courtyard ideal for events, outdoor dining, or private gatherings. Two of the buildings have new roofs, and the 1,888 sf two-story caretaker’s quarters - formerly the motel office and owner's residence - includes 2 bedrooms, 2 baths, mini-split HVAC, a stone fireplace, recent improvements, and many artistic finishes—perfect for live/work. A 2,167 sf former restaurant building with partial electric offers potential for restoration, while a third, 770 sf space, once used as motel rooms, needs utilities and lots of work but offers endless creative potential. With +10 parking spaces, C-3 zoning, and a prime location just off I-25—only an hour from Santa Fe —this unique property needs restoration but is brimming with opportunity - Entrepreneurs, Creative Investors, Contractors, take a look! Being sold in as-is condition.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
