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

    1941 Southern SE Blvd Rio Rancho, NM 87124-3510

    • Drug stores
    • 15,848 SF
    • 1.58 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2020
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1373811
    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

    • Drug stores

    Property Details for 1941 Southern SE Blvd

    Year built
    1997
    Lot size
    1.58 lot acres
    Property size
    15,848 SF
    Property type
    Drug stores
    APN
    1-011-068-344-374
    APU
    1011068344374

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,096,000
      Market price range: $586k - $1.10M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $770,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,040,000
      Change: +36% Conversion: Difficult
      MEDICAL BUILDING
      $845,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rio Rancho
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.697
    Latitude
    35.2421
    CBSA code
    10740
    CBSA name
    ALBUQUERQUE, NM METROPOLITAN 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
    $46,512
    $116,743
    $1,000,257
    $1,117,000
    -
    $350,229
    $3,000,771
    $3,351,000

    Comparable in this City

    • Value Estimation by Request
      14,213 SF

      1001 Nm-528

      Individual retail properties • 14,213 SF
      1001 Nm-528, Rio Rancho, NM 87124
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    • Value Estimation
      $820,000
      15,029 SF

      4051 Southern SE Blvd

      DRUG STORE, PHARMACY • 15,029 SF
      4051 Southern SE Blvd, Rio Rancho, NM 87124-2069
      View Details
    • Value Estimation
      $870,000
      16,275 SF

      1001 Rio Rancho SE Blvd

      DRUG STORE, PHARMACY • 16,275 SF
      1001 Rio Rancho SE Blvd, Rio Rancho, NM 87124-1057
      View Details
    • Value Estimation by Request
      676 SF

      428 Unser SE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 676 SF
      428 Unser SE Blvd, Rio Rancho, NM 87124-2474
      View Details
    • Value Estimation
      $2,600,000
      75,911 SF

      1000 Rio Rancho SE Blvd

      GROCERY, SUPERMARKET • 75,911 SF
      1000 Rio Rancho SE Blvd, Rio Rancho, NM 87124-1051
      View Details
    • Value Estimation by Request
      3,600 SF

      4021 Barbara SE Loop

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      4021 Barbara SE Loop, Rio Rancho, NM 87124-1022
      View Details

    Similar Nearby for Sale

    • $1,200,000
      664 SF

      Retail Building on Southern Blvd

      Stand-alone retail building constructed in 2023 with high traffic exposure.
      2200 Southern Blvd SE, Rio Rancho, NM 87124
      View Details
    • $5,260,126
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      Country Club Center: Rio Rancho Retail Investment

      High-yield shopping center, prime Rio Rancho location.
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      Prime Rio Rancho QSR Opportunity

      Turn-key QSR, high traffic, 2023 build.
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    • New
      Contact for pricing
      0.50 Acres

      Land in Rio Rancho, NM

      Land available for sale in Rio Rancho, New Mexico.
      27th 27Th Ave NW, Rio Rancho, NM 87124
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    • $2,500,000
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      Rio Rancho Retail Land Opportunity

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    • $348,480
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    Similar Nearby for Lease

    • $38 SF/Yr
      1,500 SF

      Retail/Office/Restaurant Space Available

      Shell space ideal for retail, restaurant, office, or medical uses.
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    • $30 SF/Yr
      1,200 SF

      Retail Space Near Walmart

      Retail space available across from Walmart Supercenter & Chick-Fil-A.
      1121 Unser Blvd SW, Rio Rancho, NM 87124
      View Details
    • $30 SF/Yr
      1,440 SF

      Retail Space Near Walmart

      Retail space with high visibility near a busy intersection.
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    • $499,000
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      Remodeled Retail Space For Rent

      Remodeled retail space with flexible layout and on-site parking.
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    • Contact for pricing
      10,000 SF

      Prime Retail Space Rio Rancho

      Retail property at a busy intersection near major retailers.
      4100 Southern Blvd SE Buildng 2, Rio Rancho, NM 87124
      View Details
    • $24 SF/Yr
      1,496 SF

      Renovated Retail/Office Space Available

      Modern, renovated retail or office space with high-visibility signage.
      2418 Southern Blvd SE, Rio Rancho, NM 87124
      View Details
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    Rio Rancho, NM 87124-3510
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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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