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    370 Ottawa Rd Hagerman, NM 88232

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    370 Ottawa Rd Hagerman, NM 88232

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    • Commercial real estate
    • 5.61 lot acres
    Off-Market
    Property ID
    US61-0862601
    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 370 Ottawa Rd

    Lot size
    5.61 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 5.61-acre lot presents a unique opportunity to build your dream home in the peaceful Hagerman, New Mexico area. Located at 370 E Ottawa Road, Chaves County, NM 88232 (33.095078, -104.374252), this expansive property offers the perfect blend of tranquility and convenience. The land is ready for immediate development, boasting a recently installed well and readily available electricity, eliminating significant upfront infrastructure costs. Escape the hustle and bustle of city life while still enjoying easy access to local amenities. This property is ideal for those seeking a spacious, private setting to construct their custom home. The 5.61 acres provide ample space for a large home, landscaping, and potential outbuildings. The asking price for this remarkable property is $79,900. Don't miss this chance to own a piece of New Mexico and begin building your future. This is a rare opportunity to acquire a move-in ready lot with essential utilities already in place. Contact us today to learn more and schedule a viewing.

    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
    Hagerman
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.374252
    Latitude
    33.095078

    Comparable in this City

    • Contact for pricing
      0.15 Acres

      Residential Lots in Hagerman, NM

      Land for sale in Norte Vista Subdivision, Hagerman. Utilities available.
      14 Norte Vis Loop, Hagerman, NM 88232
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    • $36,000
      0.20 Acres

      Residential Lots in Hagerman, NM

      Residential lots available in Norte Vista Subdivision, Hagerman.
      22 Norte Vis Loop, Hagerman, NM 88232
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    • $30,000
      0.17 Acres

      Residential Lots in Hagerman, NM

      Land for sale in Norte Vista Subdivision, Hagerman. Utilities available.
      12 Norte Vis Loop, Hagerman, NM 88232
      View Details
    • $85,000
      5.62 Acres

      Land Parcel in Hagerman, NM

      5.617-acre parcel with water well, suitable for custom build.
      462 Palomino St, Hagerman, NM 88232
      View Details
    • $35,900
      19.55 Acres

      Hagerman, NM Land Available

      Land with wide open spaces in Hagerman, New Mexico.
      Jicarilla Rd, Hagerman, NM 88232
      View Details
    • Contact for pricing
      0.17 Acres

      Residential Lots in Norte Vista

      Land for sale in Hagerman's Norte Vista Subdivision.
      23 Norte Vis Loop, Hagerman, NM 88232
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.15 Acres

      Residential Lots in Hagerman, NM

      Land for sale in Norte Vista Subdivision, Hagerman. Utilities available.
      14 Norte Vis Loop, Hagerman, NM 88232
      View Details
    • $30,000
      0.17 Acres

      Residential Lots in Hagerman, NM

      Land for sale in Norte Vista Subdivision, Hagerman. Utilities available.
      12 Norte Vis Loop, Hagerman, NM 88232
      View Details
    • $36,000
      0.20 Acres

      Residential Lots in Hagerman, NM

      Residential lots available in Norte Vista Subdivision, Hagerman.
      22 Norte Vis Loop, Hagerman, NM 88232
      View Details
    • $85,000
      5.62 Acres

      Land Parcel in Hagerman, NM

      5.617-acre parcel with water well, suitable for custom build.
      462 Palomino St, Hagerman, NM 88232
      View Details
    • Contact for pricing
      0.17 Acres

      Residential Lots in Norte Vista

      Land for sale in Hagerman's Norte Vista Subdivision.
      23 Norte Vis Loop, Hagerman, NM 88232
      View Details
    • $35,900
      19.55 Acres

      Hagerman, NM Land Available

      Land with wide open spaces in Hagerman, New Mexico.
      Jicarilla Rd, Hagerman, NM 88232
      View Details
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    370 Ottawa Rd
    Hagerman, NM 88232
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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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