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

    1206 Aztec Ave Gallup, NM 87301

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1093240
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1206 Aztec Ave

    Year built
    1969
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 1206 E Aztec Avenue in Gallup, New Mexico, presents a unique investment opportunity. The property, encompassing a substantial 16,073.64 square foot lot, offers significant potential for a variety of commercial uses. Built in 1969, the existing structures provide a solid foundation for immediate occupancy or redevelopment. The property's zoning (not specified in provided information) should be verified with the appropriate McKinley County authorities to ensure compliance with intended use. Situated in Gallup, NM, zip code 87301, this location benefits from convenient access to major roadways and local amenities. The asking price for this substantial land and office building is $399,000. Given the size of the lot and the existing structures, this property offers considerable flexibility for expansion or modification to suit a wide range of commercial needs. Serious inquiries are encouraged to explore the possibilities this property presents. Further due diligence is recommended to fully assess the property's potential and suitability for your specific business requirements. The property's location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in the Gallup market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gallup
    County
    McKinley
    State
    New Mexico
    Longitude
    -108.7234138
    Latitude
    35.5286696

    Comparable in this City

    • $275,000
      2,600 SF

      Gallup Mixed-Use Property

      Prime Gallup location, 2600 sq ft, 1 acre lot.
      306 Mentmore Rd, Gallup, NM 87301
      View Details
    • $242,000

      Gallup Storefront: Prime Location

      Versatile Commercial Space, $242,000
      1208 Aztec Ave, Gallup, NM 87301
      View Details
    • $80,000
      3.72 Acres

      Gallup Land: 3.72 Acres

      Build Your Dream Home in Gallup, NM
      0 Tbd Plateau Dr, Gallup, NM 87301
      View Details
    • $600,000
      7.36 Acres

      Prime Gallup Commercial Land

      7.36 Acres, Heavy Commercial Zoning
      0 Patton Ave And Aztec Ave, Gallup, NM 87301
      View Details
    • $200,000

      Residential Land in Prime Location

      3.04 acres of land zoned for multi-family residential.
      750 Patton Dr, Gallup, NM 87301
      View Details
    • $49,500
      0.25 Acres

      Gallup, NM Vacant Lot

      Vacant lot overlooking Veteran's Park in Gallup, NM.
      E Morgan Ave, Gallup, NM 87301
      View Details

    Similar Nearby for Sale

    • $275,000
      2,600 SF

      Gallup Mixed-Use Property

      Prime Gallup location, 2600 sq ft, 1 acre lot.
      306 Mentmore Rd, Gallup, NM 87301
      View Details
    • $242,000

      Gallup Storefront: Prime Location

      Versatile Commercial Space, $242,000
      1208 Aztec Ave, Gallup, NM 87301
      View Details
    • $600,000
      7.36 Acres

      Prime Gallup Commercial Land

      7.36 Acres, Heavy Commercial Zoning
      0 Patton Ave And Aztec Ave, Gallup, NM 87301
      View Details
    • $80,000
      3.72 Acres

      Gallup Land: 3.72 Acres

      Build Your Dream Home in Gallup, NM
      0 Tbd Plateau Dr, Gallup, NM 87301
      View Details
    • $49,500
      0.25 Acres

      Gallup, NM Vacant Lot

      Vacant lot overlooking Veteran's Park in Gallup, NM.
      E Morgan Ave, Gallup, NM 87301
      View Details
    • $200,000

      Residential Land in Prime Location

      3.04 acres of land zoned for multi-family residential.
      750 Patton Dr, Gallup, NM 87301
      View Details

    Similar Nearby for Lease

    • $0.49 SF/Yr
      34,114 SF

      Gallup Warehouse: Prime Commercial Space

      Large warehouse, excellent location, ample parking.
      923 Aztec St, Gallup, NM 87301
      View Details
    • $14 SF/Yr
      110,593 SF

      Gallup Shopping Center Investment

      Albertson's-anchored retail center in Gallup, NM
      1600 Hwy 66, Gallup, NM 87301
      View Details
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    1206 Aztec Ave
    Gallup, NM 87301
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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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