Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3075 Historic Hwy 66 Gallup, NM 87301-6813

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1013355
    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

    • Dollar General / Convenience Store / Discount Store

    Property Details for 3075 Historic Hwy 66

    Property type
    Commercial real estate
    APN
    2-110-086-167-537
    APU
    2110086167537

    Description

    This exceptional 40,000 square foot commercial land parcel presents a unique investment opportunity in Gallup, New Mexico. Located on the south side of West Highway 66, this property boasts excellent visibility and accessibility. The asking price is $120,000, translating to a competitive $3 per square foot land value. The property is zoned HC - HEAVY COMMERCIAL, allowing for a wide range of development possibilities. Its strategic location offers significant advantages, situated next to a General Dollar Store and immediately west of this location. The property also benefits from its proximity to a hotel and a Taco Bell, ensuring high foot traffic and brand recognition. Utilities are readily available, and convenient access to US Highway 66 is already established. This ready-to-develop site is priced to sell and represents a compelling opportunity for investors seeking a high-traffic location with significant potential for growth. Additional land to the west, also with utilities and highway access, is available for expansion. The property's APN numbers are R145319 and R145327. This is a rare chance to acquire a prime commercial lot in a thriving area.

    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
    -108.817
    Latitude
    35.5074
    CBSA code
    23700
    CBSA name
    GALLUP, 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
    $13,371
    $20,000
    $291,730
    $311,730
    -
    $60,000
    $875,189
    $935,189

    Comparable in this City

    • Value Estimation by Request
      6.69 Acres

      Second St

      Land • 6.69 Acres
      0 Second St, Gallup, NM 87301
      View Details
    • Value Estimation by Request

      923 Aztec St

      Distribution properties
      923 Aztec St, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      38.00 Acres

      000 Chee Dodge Blvd

      Land • 38.00 Acres
      000 Chee Dodge Blvd, Gallup, NM 87301
      View Details
    • Value Estimation by Request
      21,350 SF

      1903 Historic Highway 66

      Commercial real estate • 21,350 SF
      1903 Historic Highway 66, Gallup, NM 87301
      View Details
    • Value Estimation by Request

      105 Hl Ave

      COMMERCIAL (GENERAL)
      105 Hl Ave, Gallup, NM 87301-6217
      View Details
    • Value Estimation by Request

      106 Hl Ave

      COMMERCIAL (GENERAL)
      106 Hl Ave, Gallup, NM 87301-6218
      View Details

    Similar Nearby for Sale

    • $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
    • $1,200,000
      21,350 SF

      Historic Route 66 Motel Investment

      Gallup, NM Motel - 50 Rooms, 2.24 Acres
      1903 Historic Highway 66, Gallup, NM 87301
      View Details
    • $550,000
      38.00 Acres

      Prime Gallup Commercial Land

      38 Acres, $550,000 - Excellent Investment
      000 Chee Dodge Blvd, Gallup, NM 87301
      View Details
    • $582,500
      6.69 Acres

      Gallup Commercial Land - $582,500

      Prime Gallup commercial land, 6.686 acres.
      0 Second St, Gallup, NM 87301
      View Details
    • $1,065,001
      12.20 Acres

      Gallup, NM Mixed-Use Land

      12.2 Acres, Prime Development Opportunity
      0 Duplicate, Gallup, NM 87301
      View Details
    • $1,700,000
      20,000 SF

      Gallup, NM Restaurant/Bar for Sale

      Prime Location, 20,000 SF, Turn-Key
      107 Coal Ave, Gallup, NM 87301
      View Details

    Similar Nearby for Lease

    • $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
    • $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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3075 Historic Hwy 66
    Gallup, NM 87301-6813
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.