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    1611 N Riverside Dr Espanola, NM 87532
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    1611 N Riverside Dr Espanola, NM 87532

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    • Commercial real estate
    • 0.82 lot acres
    For Lease
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    Espanola Valley Retail Land Opportunity For Lease
    Contact for pricing

    Espanola Valley Retail Land Opportunity

    Land for lease in a vibrant retail corridor.

    1611 N Riverside Dr, Espanola, NM
    View Listing
    Property ID
    US61-1120547
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1611 N Riverside Dr

    Lot size
    0.82 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.82-acre commercial land parcel presents a prime development opportunity in Española, New Mexico. Located at 1611 N Riverside Dr, this single-tenant site is zoned B-2, offering considerable flexibility for a variety of commercial uses. The property's convenient location in Rio Arriba County provides excellent visibility and accessibility, making it an ideal location for businesses seeking high traffic exposure. The expansive 0.82 acres provide ample space for new construction, allowing for significant building size and potential for substantial return on investment. Utilities are readily available, simplifying the development process and minimizing upfront costs. This property is perfect for entrepreneurs and developers looking to establish a strong presence in a growing market. The strategic location in Española offers access to a thriving community and a robust local economy. With its ideal zoning and ample space, this land parcel represents a rare opportunity to acquire a highly desirable commercial property in a prime location. Serious inquiries are encouraged to explore the full potential of this exceptional development site. The property address is clearly identified as 1611 N Riverside Dr, Española, NM 87532. This is a single-tenant property, offering a streamlined ownership experience.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Española
    County
    Rio Arriba
    State
    New Mexico
    Longitude
    -106.063877
    Latitude
    36.015565

    Comparable in this City

    • 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
    • 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

      Drive-Thru Restaurant Space Available

      Modern 1,200 SF fast food space with drive-thru.
      601 Silky Way, Espanola, NM 87532
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space strategically located near Walmart and Lowe’s.
      1321 N Riverside Dr, Espanola, NM 87532
      View Details
    • $17 SF/Yr
      14,235 SF

      Espanola Retail Center Opportunity

      Prime retail spaces in high-traffic Espanola location.
      402 Carr Ln, Espanola, NM 87532
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Espanola Commercial Land For Sale

      Commercial land available for sale or ground lease in Espanola.
      N Riverside Dr, Espanola, NM 87532
      View Details
    • $47,500
      Pending

      Residential Lot in Espanola, NM

      Residential lot with surface water rights and community water available.
      225 La Puebla Rd, Espanola, NM 87532
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    • $315,000
      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
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    • $225,000
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      Espanola Land For Sale

      3.21 acres of land available in Espanola, New Mexico.
      84/285 Hennigan Rd, Espanola, NM 87532
      View Details
    • $225,000
      500,678 SF

      Land Available in Espanola, NM

      Land for sale in Espanola, New Mexico.
      84/285 Hennigan Rd, Espanola, NM 87532
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    • $45,000
      0.53 Acres

      Land Parcel in Espanola, NM

      0.531-acre parcel within Espanola city limits, suitable for gardening.
      Calle Juan Jose Vigil, Espanola, NM 87532
      View Details

    Similar Nearby for Lease

    • 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
    • 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

      Drive-Thru Restaurant Space Available

      Modern 1,200 SF fast food space with drive-thru.
      601 Silky Way, Espanola, NM 87532
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space strategically located near Walmart and Lowe’s.
      1321 N Riverside Dr, Espanola, NM 87532
      View Details
    • $17 SF/Yr
      14,235 SF

      Espanola Retail Center Opportunity

      Prime retail spaces in high-traffic Espanola location.
      402 Carr Ln, Espanola, NM 87532
      View Details
    View Listing
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    Espanola, NM 87532
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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.

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