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

    1508 Riverside Dr Espanola, NM 87532-2064

    • Individual retail properties
    • 22,000 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1003792
    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

    • Individual retail properties

    Property Details for 1508 Riverside Dr

    Lot size
    0.90 lot acres
    Property size
    22,000 SF
    Property type
    Individual retail properties
    APN
    1 047 121 235 449
    APU
    1047121235449

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $958,000
      Market price range: $529k - $958k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $630,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Espanola
    County
    Rio Arriba
    State
    New Mexico
    Longitude
    -106.065
    Latitude
    36.0143
    CBSA code
    21580
    CBSA name
    ESPANOLA, NM MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,051
    $143,311
    $410,063
    $553,374
    -
    $429,932
    $1,230,188
    $1,660,120

    Comparable in this City

    • Value Estimation
      $295,000
      336 SF

      County Rd 127

      APPLIANCE STORE • 336 SF
      County Rd 127, La Mesilla, NM 87532
      View Details
    • Value Estimation
      $875,000
      32,802 SF

      415 Lowder Milk Rd

      APPLIANCE STORE • 32,802 SF
      415 Lowder Milk Rd, Espanola, NM 87532-6768
      View Details
    • Value Estimation
      $990,000
      38,480 SF

      1813 Mtn Vw St

      APPLIANCE STORE • 38,480 SF
      1813 Mtn Vw St, Espanola, NM 87532-9663
      View Details
    • Value Estimation
      $550,000
      19,332 SF

      1616 Riverside Dr

      APPLIANCE STORE • 19,332 SF
      1616 Riverside Dr, Espanola, NM 87532
      View Details
    • Value Estimation
      $270,000
      9,258 SF

      912 Riverside Dr

      APPLIANCE STORE • 9,258 SF
      912 Riverside Dr, Espanola, NM 87532-2958
      View Details
    • Value Estimation
      $465,000
      20,000 SF

      Espanola, NM 87532

      APPLIANCE STORE • 20,000 SF
      Espanola, NM 87532
      View Details

    Similar Nearby for Sale

    • $270,000
      1,820 SF

      Espanola Commercial Building For Sale

      Versatile building with office space and service garage on 0.47-acre lot.
      711 Paseo De Onate, Espanola, NM 87532
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    • $640,000
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      Standalone QSR in Espanola, NM

      High-Yield QSR with Drive-Thru
      601 Silkey Way, Española, NM 87532
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    • $447,000
      2,730 SF

      Espanola Restaurant and Bar on Plaza

      Turnkey restaurant and bar on the Plaza in Espanola, NM.
      100 Los Alamos Hwy, Espanola, NM 87532
      View Details
    • Contact for pricing
      1.00 Acre

      NorthBridge Plaza: Prime Commercial Land

      Española, NM commercial land, build-to-suit options.
      0 Riverside Dr, Española, NM 87532
      View Details
    • $472,500
      3,000 SF

      Prime Española Auto Shop

      Turn-key auto repair shop, high visibility.
      2 Sueno De Vigil Rd, Española, NM 87532
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    • $320,000
      0.61 Acres

      Spacious Fenced Lot in Espanola

      0.62-acre lot with utilities, mobile home, near High Road.
      1814 State Road 76, Espanola, NM 87532
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      14,235 SF

      Espanola Retail Center For Lease

      Prime retail spaces in high-traffic Espanola retail hub.
      402 Carr Ln, Espanola, NM 87532
      View Details
    • Contact for pricing
      1,200 SF

      Española QSR with Drive-Thru

      Prime Fast Food Location, Drive-Thru, FF&E Included
      601 Silky Way, Española, NM 87532
      View Details
    • $12 SF/Yr
      7,000 SF

      Española Office/Retail Space

      Prime location, flexible suites available.
      1227 Railroad Ave, Española, NM 87532
      View Details
    • Contact for pricing
      2,400 SF

      Española Drive-Thru Retail Space

      Turn-key, 2400 sq ft, high traffic
      1321 Riverside Dr, Española, NM 87532
      View Details
    • Contact for pricing
      2,400 SF

      Espanola Retail Space with Drive-Thru

      Turn-key drive-thru restaurant space in a high-traffic retail area.
      1321 N Riverside Dr, Espanola, NM 87532
      View Details
    • Contact for pricing

      Espanola Valley Retail Land Opportunity

      Land for lease in a vibrant retail corridor.
      1611 N Riverside Dr, Espanola, NM 87532
      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      1.0k
    • Avg Time on site
      14 min
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    1508 Riverside Dr
    Espanola, NM 87532-2064
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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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