1229 1St St Las Vegas, NM 87701
This exceptional development opportunity encompasses two contiguous city lots totaling 14,810.4 square feet, ideally situated in Las Vegas, New Mexico. The property is located at 1229 1st Street Street, 87701, in San Miguel County, offering convenient proximity to Robertson High School. Currently, two older residences are present on the lots; however, these structures are considered uninhabitable and in very poor condition. The property is being sold "as is," presenting a blank canvas for developers and investors seeking to capitalize on this prime location. The combined lot size provides ample space for a variety of potential projects, making it an attractive investment for those with a vision for new construction or redevelopment. The advantageous location near a high school could be particularly appealing for projects targeting families or students. This is a rare chance to acquire a substantial land parcel in a desirable area, ripe for transformation. The asking price for this significant opportunity is $90,000. Detailed site plans and surveys are available upon request. Don't miss this chance to shape the future of this promising Las Vegas location.
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.